You will need to refer to your scheme invitation brochure.
The number of shares you can buy depends on the amount you agree to save each month under your Sharesave contract.
The calculation for working out your shares under option is: (your total savings and bonus at maturity) divided by (the option price).
Once you have joined you cannot change the amount you save each month. However, you can stop saving at any time and get your money back. If you do this you will not be able to buy your shares under option.
This means the number of shares that you can buy at the end of your savings period. It is calculated by dividing the total amount you will have saved (plus any bonus applicable) by the option price.
This means that you are choosing to buy shares under option at the option price.
You can withdraw your savings plus any applicable interest at any time and this money can be sent to you. If you choose to do this your savings account will be closed and you will not be able to buy your shares under option. You will need to notify your payroll to stop making any further deductions from your pay. Payment will be sent to you shortly after your account has been closed.
Just prior to the maturity date you will receive further information about what your choices are and the timescales. You can choose to buy the shares under option or have your money returned. If you have a 5 year scheme you can keep your savings account open for a further 2 years. However, you will need to buy your shares under option within 6 months from the maturity date or the option will lapse.
Yes. Where your Sharesave savings are held in an account with Lloyds Bank plc, they will be protected under the Financial Services Compensation Scheme arrangements. Further details are available on request from the scheme. Call their Helpline on 0207 741 4100 or 0800 678 1100, log onto their website at Financial Services Compensation Scheme or write to the Financial Services Compensation Scheme, 10th Floor, Beaufort House
15 St Botolph Street, London EC3A 7QU. Alternatively, log onto www.lloydsbank.com for further information about the compensation scheme.