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Interest Rates and Charges: Savings

Rates and charges for our savings accounts

Rates of interest are subject to change but are correct as at 1st September 2014.

Signature Savings Account
Instant Savings
Savings Account Plus
Jumpstart Savers Account
Headstart Savers Account
Child Savings Bond
40 Day Notice Account
Regular Home Saver Account
Cash ISA - Instant Access
Cash ISA - 40 Day Notice
Cash ISA - Fixed Rate Bond
Offsale Accounts

 

Personal Savings Products Current Gross*
Rate
(%)
Current
AER+(%)
Net**
Rate
(%)
Signature Savings Account
£100,000 and over
0.75
0.75
0.60
£50,000 - £99,999
0.55
0.55
0.44
£25,000 - £49,999
0.35
0.35
0.28
£0 - £24,999
0.25
0.25
0.20
Instant Savings
£100,000 and over
0.10
0.10
0.08
£50,000 - £99,999
0.10
0.10
0.08
£25,000 - £49,999
0.10
0.10
0.08
£10,000 - £24,999
0.10
0.10
0.08
£5,000 - £9,999
0.10
0.10
0.08
£250 - £4,999
0.10
0.10
0.08
£0 - £249
0.10
0.10
0.08
Savings Account Plus
£1 and over
0.10
0.10
0.08
Jumpstart Savers Account
£1,000 and over 0.55 0.55 0.44
£500 - £999 0.50 0.50 0.40
£250 - £499 0.25 0.25 0.20
£1 - £249 0.10 0.10 0.08
Headstart Savers Account (95 day notice account)
£1 and over 1.50 1.51 1.20
The gross interest rate payable is 1% above the Bank of England base rate, which is currently 0.50%
Child Savings Bond (only available for maturing customers)
£50 - £250,000
2.50
2.50
2.00
40 Day Notice Account
£1,000,000 and over
0.85
0.85
0.68
£100,000 - £999,999
0.60
0.60
0.48
£0 - £99,999
0.25
0.25
0.20
Regular Home Saver Account
£1 and over
0.50
0.50
0.40
The gross interest rate payable is linked to the Bank of England base rate. The rates will be changed on the first business day following any Bank of England base rate change.

 

Personal Savings
Products
Current
Tax Free
Rate++(%p.a)
Current
AER%+
Cash ISA - Instant Access
£24,000 and over
1.10
1.10
£9,000 - £23,999
0.90
0.90
£0 - £8,999
0.70
0.70
Cash ISA - 40 Day Notice
£24,000 and over
2.00
2.00
£9,000 - £23,999
1.50
1.50
£0 - £8,999
1.00
1.00
Cash ISA - Fixed Rate Bond (Issue 25) - Maturing 31st October 2017
£2,000 and over
2.45
2.45
Cash ISA - Fixed Rate Bond (Issue 26) - Maturing 30th October 2015
£2,000 and over
1.60
1.60

Offsale Accounts

Personal Savings Products Current Gross
Rate*
(%)
Current
AER+(%)
Current Net
Rate**
(%)
Passbook Account
£25,000 and over
0.35
0.35
0.28
£10,000 - £24,999
0.10
0.10
0.08
£5,000 - £9,999
0.10
0.10
0.08
£2,500 - £4,999
0.10
0.10
0.08
£500 - £2,499
0.10
0.10
0.08
£250 - £499
0.10
0.10
0.08
£50 - £249
0.10
0.10
0.08
£1 - £49
0.00
0.00
0.00
Cybersave
£1,000 and over 0.50 0.50 0.40
£500 - £999 0.45 0.45 0.36
£250 - £499 0.20 0.20 0.16
£100 - £249 0.15 0.15 0.12
£1 - £99 0.10 0.10 0.08

 

  Tax Free Rate++(%p.a.) AER%+
Cash ISA Fixed Rate Bond
Issue 3 (Maturity date 31st March 2015) 5.00 5.00
Issue 6 (Maturity date 30th November 2015) 4.25 4.25
Issue 9 (Maturity date 29th April 2016) 4.25 4.25
Issue 11 (Maturity date 29th April 2016) 4.50 4.50
Issue 14 (Maturity date 29th January 2016) 4.40 4.40
Issue 16 (Maturity date 31st May 2017) 4.25 4.25
Issue 20 (Maturity date 27th May 2016) 2.20 2.20
Issue 21 (Maturity date 30th October 2015) 1.75 1.75
Issue 22 (Maturity date 31st October 2014) 1.60 1.60
Issue 23 (Maturity date 30th April 2015) 1.60 1.60
Issue 24 (Maturity date 31st May 2016) 2.00 2.00

Definitions

*Gross Rate. Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (currently 20%).

**Net Rate. Net Rate is the Gross Rate less income tax at the basic rate (currently 20%). Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from HM Revenue and Customs. Higher rate taxpayers may be liable to additional taxation according to their individual circumstances.

+AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

++Tax Free - is the rate payable when income is exempt from Income Tax.

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