Savings accounts
Interest rates
Rates correct as at 17th November 2008 - base rate 3.00% but are subject to variation unless otherwise stated.
The following sum shows how interest is calculated:
Daily Cleared Balance x Gross Annual Rate / 36500 = Daily Gross Interest
Previous interest rates can be found in the Previous Interest Rates page.
Cash ISA
Effective from 9th October 2008
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £2,999 | 4.25 | 4.25 | - | Interest paid annually on 5th April Maximum investment for cash ISA: £3600 |
| £3,000 - £5,999 | 4.25 | 4.25 | - | |
| £6,000 - £8,999 |
4.25 | 4.25 | - | |
| £9,000 - £14,999 |
4.25 | 4.25 | - | |
| £15,000+ |
4.25 | 4.25 | - |
Cash Saver
Effective from 9th October 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £4,999 | 0.09 | 0.09 | 0.07 | Interest paid on full balance twice a year |
| £5,000 - £9,999 | 0.21 | 0.21 | 0.17 | |
| £10,000 - £49,999 |
0.43 | 0.43 | 0.35 | |
| £50,000+ |
0.96 | 0.97 | 0.77 |
Deposit
Effective from 9th October 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £4,999 | 0.03 | 0.03 | 0.02 | Interest paid on full balance twice a year |
| £5,000 - £9,999 | 0.25 | 0.25 | 0.20 | |
| £10,000 - £49,999 |
0.53 | 0.53 | 0.42 | |
| £50,000+ |
1.00 | 1.00 | 0.80 |
Fixed Term Deposits
Effective from 17th November 2008
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| 1 year (on maturity) | 4.25 | 4.25 | 3.40 | Interest paid monthly / Interest paid on maturity |
| 2 year (on maturity) | 4.50 | 4.50 | 3.60 | |
| 3 year (on maturity) | 4.75 | 4.75 | 3.80 | |
| 1 year (monthly) | 4.15 | 4.23 | 3.32 | |
| 2 year (monthly) | 4.40 | 4.49 | 3.52 | |
| 3 year (monthly) | 4.65 | 4.75 | 3.72 |
High Interest Tracker
Effective from 6th November 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| Standard rate (£1) | 2.75 | 2.75 | 2.20 | Yearly |
Investment 90
Effective from 9th October 2008
Unavailable to new customers from 9th April 1996
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £4,999 | 0.18 | 0.18 | 0.15 | Half yearly (or monthly) |
| £5,000 - £9,999 | 0.43 | 0.43 | 0.35 | |
| £10,000 - £24,999 | 0.93 | 0.93 | 0.75 | |
| £25,000 - £49,999 | 1.43 | 1.44 | 1.15 | |
| £50,000+ | 1.93 | 1.94 | 1.55 |
Pathfinder
Effective from 9th October 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £2,499 | 0.03 | 0.03 | 0.02 | Monthly |
| £2,500 - £4,999 | 0.03 | 0.03 | 0.02 | |
| £5,000 - £14,999 | 0.18 | 0.18 | 0.15 | |
| £15,000 - £49,999 | 0.25 | 0.25 | 0.20 | |
| £50,000 - £99,999 | 0.81 | 0.81 | 0.65 | |
| £100,000+ | 1.56 | 1.57 | 1.25 |
Pathfinder Worldwide
Effective from 9th October 2008
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £2,499 | 0.03 | 0.03 | - | Interest is calculated daily and paid Gross monthly |
| £2,500 - £4,999 | 0.03 | 0.03 | - | |
| £5,000 - £14,999 | 0.21 | 0.21 | - | |
| £15,000 - £49,999 | 0.31 | 0.31 | - | |
| £50,000 - £99,999 | 0.90 | 0.91 | - | |
| £100,000+ | 1.65 | 1.66 | - |
Save Direct
Effective from 9th October 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £250 - £4,999 | 0.18 | 0.18 | 0.15 | Yearly |
| £5,000 - £14,999 | 0.93 | 0.93 | 0.75 | |
| £15,000 - £24,999 | 1.62 | 1.62 | 1.30 | |
| £25,000 - £49,999 | 1.87 | 1.87 | 1.50 | |
| £50,000 - £99,999 | 2.43 | 2.43 | 1.95 | |
| £100,000 - £500,000 | 3.12 | 3.12 | 2.50 |
Save Direct Worldwide
Effective from 9th October 2008
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £250 - £4,999 | 0.46 | 0.46 | - | Interest is paid Gross annually |
| £5,000 - £14,999 | 1.21 | 1.21 | - | |
| £15,000 - £24,999 | 2.00 | 2.00 | - | |
| £25,000 - £49,999 | 2.40 | 2.40 | - | |
| £50,000 - £99,999 | 2.90 | 2.90 | - | |
| £100,000 - £500,000 | 3.59 | 3.59 | - |
Save Wise
Effective from 9th October 2008
Unavailable to new customers
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1 - £4,999 | 0.03 | 0.03 | 0.02 | Interest paid on full balance twice a year |
| £5,000 - £9,999 | 0.25 | 0.25 | 0.20 | |
| £10,000 - £49,999 | 0.53 | 0.53 | 0.42 | |
| £50,000+ | 1.00 | 1.00 | 0.80 |
Smart Saver
Effective from 9th October 2008
| Gross% | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| Smart Saver £1+ | 3.68 | 3.68 | 2.95 | Yearly |
Privilege Premier Savings
Effective from 6th November 2008
| Gross% | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1-£99,999 | 2.90 | 2.90 | 2.32 | Yearly |
| £100,000+ | 3.00 | 3.00 | 2.40 | Yearly |
If you convert your Account to either a Privilege or Current Account, a lower rate of interest will be paid on the Privilege Savings Account (see table below):
Privilege Savings
| Gross% | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1+ | 2.70 | 2.70 | 2.16 | Yearly |
Gross rate means the contractual rate of interest paid before deduction of income tax at the rate specified by law.
Net is the rate of interest that would be payable after allowing for the deduction of income tax at the rate specified by law.
AER means the Annual Equivalent Rate and illustrates the contractual rate of interest as if paid and compounded each year.
Interest is calculated daily on all accounts.
