Our current savings rates are:
| Savings Account | Gross (% p.a.) | Net (% p.a.) | AER (% p.a.) |
|---|---|---|---|
| £1+ | 0.035 | 0.028 | 0.035 |
| 90 Day notice (Premium) Account | Gross (% p.a.) | Net (% p.a.) | AER (% p.a.) |
|---|---|---|---|
| £1000 - £4,999 | 0.100 | 0.080 | 0.100 |
| £5,000 - £9,999 | 0.150 | 0.120 | 0.150 |
| £10,000 - £19,999 | 0.200 | 0.160 | 0.200 |
| £20,000+ | 0.300 | 0.240 | 0.300 |
Interest is calculated on the cleared balance on a daily basis and is applied to the account on the last business day of April and October each year, with the exception of the Fixed Term Deposit Accounts when interest is applied on maturity of the account.
| Cash ISA | Gross (% p.a.) | - | AER (% p.a.) |
|---|---|---|---|
| £1+ | 0.75 | - | 0.75 |
Interest is calculated on the cleared balance on a daily basis and is applied to the account annually on 31st October.
Net Interest Rate
The rate of interest paid after the deduction of lower rate tax.
Gross Interest Rate
The rate of interest paid without deduction of tax.
Annual Equivalent Rate (AER)
The Annual Equivalent Rate (AER) represents the annual rate effectively received by the customer if interest at the gross rate applied during a year remained in the account and itself earned interest. As every advert for savings products, where a rate is displayed, will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
| Anchor Accounts | Gross (% p.a.) | Net (% p.a.) | AER (% p.a.) |
|---|---|---|---|
| 30-day notice | 0.250 | 0.200 | 0.250 |
| 90-day notice | 0.300 | 0.240 | 0.300 |
| 1-year fixed term | 0.400 | 0.320 | 0.400 |
Interest is calculated on the cleared balance on a daily basis and is applied to the account on the last business day of April and October each year, with the exception of the Fixed Term Deposit Accounts when interest is applied on maturity of the account.
Net Interest Rate The rate of interest paid after the deduction of lower rate tax.
Gross Interest Rate The rate of interest paid without deduction of tax.
Annual Equivalent Rate (AER) The Annual Equivalent Rate (AER) represents the annual rate effectively received by the customer if interest at the gross rate applied during a year remained in the account and itself earned interest. As every advert for savings products, where a rate is displayed, will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
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