Privilege Premier Savings rates
Your Privilege current account is linked to a Privilege Savings account, which we open automatically, so there’s no need for you to do anything. It allows you to transfer money easily and earn interest while you save.
Rates correct as at 11th March 2009
| Balance £ | Gross%* | AER%** | Net%*** |
|---|---|---|---|
| £1–£99,999 | 1.00 | 0.80 | 0.80 |
| £100,000+ | 1.03 | 1.03 | 0.82 |
Only available to Privilege Premier current account customers.
Interest rates guaranteed to track 0.1%† below the Bank of England Base Rate for balances below £100,000
Interest rates guaranteed to track the Bank of England Base Rate for balances over £100,000
Current Bank of England Base Rate 0.5% (as at 03/09).
Please read the following documentation before applying for a Privilege current account. (These will open as PDFs in new windows).
- Linked savings rates (PDF - 0.1Mb)
† The credit interest rates on your Privilege Premier Savings account was designed to track the Bank of England base rate. However, following the reductions which have taken the base rate to its lowest ever level, we have not reduced the rates on this savings account by the full percentages at this time.
*Gross means the contracted rate of interest payable before the deduction of income tax at the rate specified by law, it remains the customer’s responsibility to declare interest earned to their relevant tax authority.
**AER = Annual Equivalent Rate - a notional rate calculated as if the contractual gross rate were paid and compounded on an annual basis.
***Net = The rate of interest payable after deduction of income tax at the rate specified by law.
Interest rates may vary and are payable annually. Withdrawals by cheque from your Privilege Savings Account will be subject to a £5 charge (per cheque).
