Current interest rates


Useful Information

Interest rate page updated 04/09/09. 

AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Direct Saver (Annual Interest)
£50,000 +1.501.501.20
£25,000 - £49,9991.201.200.96
£10,000 - £24,9991.101.100.88
£1 - £9,9991.001.000.80

Interest is paid annually to the account.

Last updated on: 02 March 2009


AmountGross Rate % p.a. *AER% (variable)Net Rate % p.a. *
Bonus 30 Account (Annual Interest excluding bonus) *
£100,000 +0.300.300.24
£1 - £99,9990.200.200.16
Bonus 30 Account (Annual Interest including bonus) *
£100,000 +1.301.301.04
£1 - £99,9991.201.200.96

*A bonus of 1.00% gross per annum is paid annually on the last business day of March (where you have made no more than 4 withdrawals during the annual period) and is calculated on the daily cleared credit balance for that annual period (starting on the last business day of March).

Last updated on 24 July 2009


AmountGross Rate % p.a. *AER% (variable)Net Rate % p.a. *
Private Banking Deposit Account (Monthly Interest)
£1,000,000 +1.001.000.80
£100,000 - £999,9990.550.550.44
£50,000 - £99,9990.300.300.24
£25,000 - £49,9990.200.200.16
£10,000 - £24,9990.200.200.16
£1 - £9,9990.200.200.16
Last updated on 1 April 2009

AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Instant Access Savings Account (Annual Interest)
£1 +0.100.100.08

Last updated on 02 January 2009

Offset Instant Access Savings Account (Monthly Interest)
£1 +0.100.100.08

Last updated on 02 January 2009


AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Savings Accelerator Savings Account (quarterly interest)
£1 +0.200.200.16

Last updated on 18 May 2009


AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Telephone Saver
£50,000 +0.650.650.52
£10,000 - £49,9990.300.300.24
£1 - £9,9990.100.100.08

Last updated on 01 April 2009


AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.Tracking Rate -% below Bank of England Base Rate^
Instant Savings Tracker (Annual Interest) Excluding Conditional Bonus
£50,000 +0.500.500.401.25
£25,000 - £49,9990.500.500.401.50
£10,000 - £24,9990.250.250.201.75
£5,000 - £9,9990.250.250.202.35
£500 - £4,9990.100.100.082.60
£1 - £4990.100.100.08n/a
We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the last business day of March. The tracking rate only applies to interest on balances of £500 or more until 3 August 2009. You may make 3 withdrawals without separate charge during each 3 month period that you have your account (the first of which will commence on the date on which the account was opened). We will charge you £1.50 when you make each further withdrawal.
Instant Savings Tracker (Annual Interest) Including 1.50% Conditional Bonus
£50,000 +2.001.251.601.25
£25,000 - £49,9992.001.251.601.50
£10,000 - £24,9991.751.001.401.75
£5,000 - £9,9991.751.001.402.35
£500 - £4,9991.600.851.282.60
£1 - £4990.100.100.08n/a

A bonus equivalent to 1.50% gross p.a. is payable for the first six months from account opening on accounts opened from 18 December 2008 until 21 February 2009. The bonus is only applicable on minimum balances of £500 or more and will be paid in two instalments at the end of March 2009 and March 2010, along with the standard interest payment. AERs including conditional bonus have been calculated from the start date of the bonus.

^Our Tracking Rates apply to all accounts with balances of £500 or more until the level of Bank of England Base Rate is such that no credit interest would be payable. In these circumstances the rates as outlined in column 1 (Gross Rate p.a./AER %) will be applied. You may make 3 withdrawals without separate charge during each 3 month period that you have your account (the first of which will commence on the date on which the account was opened). We will charge you £1.50 when you make each further withdrawal.

Last updated on 02 January 2009


AmountAER%Gross Rate % p.a.Net Rate % p.a.
1 Year Fixed Rate Bond Issue 210 (Annual Interest)
£5,000+2.002.001.60

Start Date: 24 May 2010 Maturity Date: 24 May 2011

Any deposits made before 24 May 2010 (i.e. before the start date of the Bond) will attract a rate equivalent to Bank of England Base Rate p.a. until 24 May 2010.


AmountAER%Gross Rate % p.a.Net Rate % p.a.
2 Year Fixed Rate Bond Issue 211 (Annual Interest)
£50,000+3.503.502.80
£25,000+3.003.002.40
£5,000+2.752.752.20

Start Date: 24 May 2010 Maturity Date: 24 May 2012

Any deposits made before 24 May 2010 (i.e. before the start date of the Bond) will attract a rate equivalent to Bank of England Base Rate p.a. until 24 May 2010.


AmountAER%Gross Rate % p.a.Net Rate % p.a.
3 Year Fixed Rate Bond Issue 212 (Annual Interest)
£50,000+4.004.003.20
£25,000+3.503.502.80
£5,000+3.253.252.60

Start Date: 24 May 2010 Maturity Date: 24 May 2013

Any deposits made before 24 May 2010 (i.e. before the start date of the Bond) will attract a rate equivalent to Bank of England Base Rate p.a. until 24 May 2010.


AmountAER%Gross Rate % p.a.Net Rate % p.a.
3 Year Fixed Rate Bond Issue 212 (Monthly Interest)
£50,000+4.003.933.14
£25,000+3.503.452.76
£5,000+3.253.202.56

Start Date: 24 May 2010 Maturity Date: 24 May 2013

Any deposits made before 24 May 2010 (i.e. before the start date of the Bond) will attract a rate equivalent to Bank of England Base Rate p.a. until 24 May 2010.


AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.Tracking Rate -% below Bank of England Base Rate^
First Home Saver (Annual Interest) Excluding Conditional Bonus
£50,000 +0.500.500.401.25
£25,000 - £49,9990.500.500.401.50
£10,000 - £24,9990.250.250.201.75
£5,000 - £9,9990.250.250.202.35
£500 - £4,9990.100.100.082.60
£1 - £4990.100.100.08n/a
We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the last business day of March. The tracking rate only applies to interest on balances of £500 or more until 3 August 2009. You may make 3 withdrawals without separate charge during each 3 month period that you have your account (the first of which will commence on the date on which the account was opened). We will charge you £1.50 when you make each further withdrawal.
First Home Saver (Annual Interest) Including 1.50% Conditional Bonus
£50,000 +2.001.251.601.25
£25,000 - £49,9992.001.251.601.50
£10,000 - £24,9991.751.001.401.75
£5,000 - £9,9991.751.001.402.35
£500 - £4,9991.600.851.282.60
£1 - £4990.100.100.08n/a

A bonus equivalent to 1.50% gross p.a. is payable for the first six months from account opening on accounts opened from 18 December 2008 until 21 February 2009. The bonus is only applicable on minimum balances of £500 or more and will be paid in two instalments at the end of March 2009 and March 2010, along with the standard interest payment. AERs including conditional bonus have been calculated from the start date of the bonus.

^Our Tracking Rates apply to all accounts with balances of £500 or more until the level of Bank of England Base Rate is such that no credit interest would be payable. In these circumstances the rates as outlined in column 1 (Gross Rate p.a./AER %) will be applied. You may make 3 withdrawals without separate charge during each 3 month period that you have your account (the first of which will commence on the date on which the account was opened). We will charge you £1.50 when you make each further withdrawal.

Last updated on 02 January 2009


AmountCashback
First Home Saver Tax-free Cashback
Over £50,000£5,000
Up to £50,000£2,500
Up to £25,000£1,000
Up to £10,000£500
£500 to £5,000£100
Cash back is paid provided the Terms and Conditions (PDF, 286KB) of the First Home Saver Account are met. The amount of cashback is based on the lowest savings balance in the 6 months before the mortgage is drawn down. It is exempt from tax as it falls within HM Revenue & Customs Statement of Practice SP4/97.

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AmountGross Rate % AER% (variable)Net Rate%
Rainbow Savings account (Annual Interest)
£1 +0.500.500.40

Last updated on 01 April 2009


AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Instant Access Cash ISA (Annual Interest)
£50,000 +2.002.00n/a
£27,000 - £49,9991.901.90n/a
£22,000 - £26,9991.751.75n/a
£15,000 - £21,9990.950.95n/a
£9,000 - £14,9990.750.75n/a
£1 - £8,9990.550.55n/a
Instant Access Cash ISA (Annual Interest with 1% bonus)
£50,000 +3.003.00n/a
£27,000 - £49,9992.902.90n/a
£22,000 - £26,9992.752.75n/a
£15,000 - £21,9991.951.95n/a
£9,000 - £14,9991.751.75n/a
£1 - £8,9991.551.55n/a
For customers who apply to transfer in funds between 09 February 2009 until 25 April 2009.

Instant Access Cash ISA (Annual Interest with 0.5% bonus)
£50,000 +2.502.50n/a
£27,000 - £49,9992.402.40n/a
£22,000 - £26,9992.252.25n/a
£15,000 - £21,9991.451.45n/a
£9,000 - £14,9991.251.25n/a
£1 - £8,9991.051.05n/a
For customers who apply to transfer in funds between 01 February 2010 to 30 April 2010 OR for customers who save their full 2010/2011 cash ISA allowance by 30 April 2010).

Instant Access Cash ISA (Annual Interest with 0.75% bonus)
£50,000 +2.752.75n/a
£27,000 - £49,9992.652.65n/a
£22,000 - £26,9992.502.50n/a
£15,000 - £21,9991.701.70n/a
£9,000 - £14,9991.501.50n/a
£1 - £8,9991.301.30n/a
For customers who applied to transfer from 18 September 2008 until 09 November 2008 and accepted Replace and Extend Offer from November 2009 until 31 January 2011.

How it's calculated - we apply the bonus from the date we receive your Cash ISA transfer form. However, the 12 month period starts when we receive the funds from your old Cash ISA provider. So you could get our market-leading rate for longer than 12 months.

Paying your interest and bonus - we pay the interest annually to the account, or another account at the same branch. The bonus will be paid annually on 31 March along with the standard interest payment. Interest is paid tax-free which means it is exempt from UK income tax

Eligible transfers - the bonus is for customers transferring in ISA funds from another provider. This excludes transfers within the RBS Group (including NatWest).

Last updated on 02 February 2010

AmountGross Rate % AER% (variable)Net Rate%
Royalties Saver Account (Annual Interest) excluding any Conditional Bonus
£100,000 +1.201.200.96
£50,000 - £99,9990.900.900.72
£25,000 - £49,9990.700.700.56
£2,000 - £24,9990.400.400.32
£1 - £1,9990.100.100.08

We calculate interest on a daily basis. We add this interest to your account (or to another account held at the same branch) annually at the end of March. This account is only available to Royalties Gold, and Royalties Private account holders.

Last updated on 01 April 2009

Royalties Saver Account (Annual Interest) including 1% Conditional Bonus (on accounts opened between 20 April 2009 and 1 August 2009)
£100,000 +2.201.951.76
£50,000 - £99,9991.901.651.52
£25,000 - £49,9991.701.451.36
£2,000 - £24,9991.401.151.12
£1 - £1,9990.100.100.08

A bonus equivalent to 1.00% Gross p.a is payable for the first nine months from account opening on accounts opened between 20 April 2009 and 1 August 2009. The bonus is only payable if a minimum balance of £2,000 is maintained for the first nine months after the account is opened. For accounts opened between 20 April 2009 and 30 June 2009, bonus interest will be paid at the end of March 2010, along with the standard interest payment. For accounts opened between 1 July 2009 and 1 August 2009, bonus interest will be paid in two instalments at the end of March 2010 and March 2011, along with the standard interest payment.

Last updated on 24 July 2009

Royalties Saver Account (Annual Interest) including 2% Conditional Bonus (on accounts opened between 18 December 2008 and 21 February 2009)
£100,000 +3.202.202.56
£50,000 - £99,9992.901.902.32
£25,000 - £49,9992.701.702.16
£2,000 - £24,9992.401.401.92
£1 - £1,9990.100.100.08

A bonus equivalent to 2.00% Gross p.a. is payable for the first six months from account opening on accounts opened between 18 December 2008 and 21 February 2009. The bonus is only payable if a minimum balance of £2,000 is maintained for the first six months after the account is opened and will be paid in two instalments at the end of March 2009 and March 2010, along with the standard interest payment.

Last updated on 24 July 2009


AmountGross Rate % AER% (variable)Net Rate%
Combi Saver 'Multi Index' (Issue 6) instant access element** - limited offer account
On balances up to the same amount invested in the Fixed Term Deposit in the first six months3.45%3.50%2.76%
On balances over the amount invested in the Fixed Term Deposit in the first six months and all deposits after the first six months0.50%0.50%0.40%

Fixed term commencing 21 December 2009

**This is the instant access element opened alongside a 3.5 year Fixed Term Deposit as part of the Combi Saver ‘Multi Index’ Issue 6 product. Combi Saver 'Multi Index' is only available periodically to Private Banking customers and those we invite to open the account.

Last updated on 16 November 2009


Gross rate

'Gross rate' means the interest rate you are paid before the deduction of income tax.

Annual Equivalent Rate (AER)

This is the notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus payable) would be if paid and compounded on an annual basis.

Net Rate

This is the interest rate you are paid after the deduction of income tax.