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Balance grows by less than £50 a month: regular saving condition is not met
Balance grows by at least £50 a month: regular saving condition is met

Balance

£1+
£1 - £10,000
Over £10,000

AER/Gross p.a. (variable)

0.00%
0.25%
0.01%
Earn 0.25% interest on your first £10,000. And 0.01% on any amount over £10,000 in your account. To earn interest, make sure you grow your balance by £50 or more by the second last business day of each month. If you don’t manage this in a particular month, you won’t earn interest that month. We suggest any regular payments are received into the account by the 25th of each month to reduce any chance of not qualifying for interest. Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.

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Yes, we may change the rate up or down. There are a few reasons for this, such as a change in the Bank of England base rate. You can find a full list of reasons for an interest rate change in section 9.2 of the Savings Account Terms. We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise we’ll tell you before or shortly after the change. You can find more details about how we’d tell you about a change in section 9.2 of the Savings Account Terms.

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Why not let us do the saving for you? Tell us you’d like a regular payment or an instant transfer to your new savings account in your application, and we’ll do it automatically for you – that’s one less thing to think about. It’s a great habit to start.

Definitions

AER: stands for Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year. 

Gross: The interest rate you are paid without the deduction of UK income tax.

p.a.: per annum (per year).

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Yes, we may change the rate up or down. There are a few reasons for this, such as a change in the Bank of England base rate. You can find a full list of reasons for an interest rate change in section 9.2 of the Savings Account Terms. We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise we’ll tell you before or shortly after the change. You can find more details about how we’d tell you about a change in section 9.2 of the Savings Account Terms.