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Savings accounts

Interest rates

Rates correct as at 19th February 2010 but are subject to variation (current Bank of England Base rate is 0.50%)

The following sum shows how interest is calculated:
   Daily Cleared Balance x Gross Annual Rate / 36500 = Daily Gross Interest

Existing savings accounts

Smart Saver
Cash ISA
Fixed Term Deposit
Privilege & Privilege Premier Savings
Savings Plus
Linked Savings
Youth accounts
Pathfinder Worldwide
Save Direct Worldwide

Savings accounts closed to new customers

Cashsaver
Deposit
High Interest Tracker
Investment 90
Pathfinder
Save Direct
Savewise
TESSA deposit
Personal Special Deposit & ID

Previous interest rates can be found in the Previous Interest Rates page.

Smart Saver

Effective from 11th March 2009

  Gross% AER% Net% Interest Credited
Smart Saver £1+ 0.25 0.25 0.20 Yearly

Previous Rates

Cash ISA

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1+ 0.50 0.50 - Interest paid annually on 5th April Maximum investment for cash ISA: £3600^

^ If you were born on or before 5th April 1960, increased ISA limits apply from 6th October 2009. You can invest up to £5,100 each tax year in a Cash ISA and your overall annual ISA investment allowance is £10,200. These higher limits will apply to all eligible ISA investors with effect from 6th April 2010.

Previous Rates

Fixed Term Deposits

Effective from 19th February 2010

  Gross % AER% Net% Interest Credited
1 year (monthly) 2.96 3.00 2.37 Interest paid monthly / Interest paid on maturity
2 year (monthly) 3.43 3.48 2.75
3 year (monthly) 4.15 4.23 3.32
1 year (on maturity) 3.00 3.00 2.40
2 year (on maturity) 3.50 3.50 2.80
3 year (on maturity) 4.25 4.25 3.40

Previous Rates

Privilege Premier Savings

Effective from 11th March 2009

  Gross% AER% Net% Interest Credited
£1-£99,999 1.00 1.00 0.80 Yearly
£100,000+ 1.03 1.03 0.82 Yearly
         

If you convert your account to a Privilege 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+ 0.75 0.75 0.60 Yearly

Previous Rates

Savings Plus

Effective from 11th March 2009

  Gross% AER% Net% Interest Credited
£1+ 0.50 0.50 0.40 Yearly

Previous Rates

Linked Savings

Effective from 11th March 2009

  Gross% AER% Net% Interest Credited
£1+ 0.25 0.25 0.20 Yearly

Previous Rates

Accounts for children (Bonus account and Future Fund)

Effective from 18th January 2010

  Gross% AER% Net% Interest Credited
£1-£999 0.25 0.25 - Interest paid Gross yearly*
£1,000-£4,999 0.25 0.25 -
£5,000+ 0.25 0.25 -

* provided account holder is eligible and R85 form is completed

Previous Rates

Pathfinder Worldwide

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £2,499 0.06 0.06 - Interest is calculated daily and paid Gross monthly
£2,500 - £4,999 0.09 0.09 -
£5,000 - £14,999 0.12 0.12 -
£15,000 - £49,999 0.15 0.15 -
£50,000 - £99,999 0.18 0.18 -
£100,000+ 0.21 0.21 -

Previous Rates

Save Direct Worldwide

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £249 0.06 0.06 - Interest is paid Gross annually
£250 - £4,999 0.06 0.06 -
£5,000 - £14,999 0.09 0.09 -
£15,000 - £24,999 0.12 0.12 -
£25,000 - £49,999 0.15 0.15 -
£50,000 - £99,999 0.18 0.18 -
£100,000+ 0.21 0.21 -

Previous Rates

Cash Saver

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £4,999 0.06 0.06 0.05 Interest paid on full balance twice a year
£5,000 - £9,999 0.09 0.09 0.07
£10,000 - £49,999
0.12 0.12 0.10
£50,000+
0.15 0.15 0.12
         

Previous Rates

Deposit

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £4,999 0.06 0.06 0.05 Interest paid on full balance twice a year
£5,000 - £9,999 0.09 0.09 0.07
£10,000 - £49,999
0.12 0.12 0.10
£50,000+
0.15 0.15 0.12

Previous Rates

High Interest Tracker

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
Standard rate (£1) 0.25 0.25 0.20 Yearly

Previous Rates

Investment 90

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £4,999 0.06 0.06 0.05 Half yearly (or monthly)
£5,000 - £9,999 0.09 0.09 0.07
£10,000 - £24,999 0.12 0.12 0.10
£25,000 - £49,999 0.15 0.15 0.12
£50,000+ 0.18 0.18 0.15

Previous Rates

Pathfinder

Effective from 11th March 2009

 
  Gross % AER% Net% Interest Credited
£1 - £2,499 0.06 0.06 0.05 Monthly
£2,500 - £4,999 0.09 0.09 0.07
£5,000 - £14,999 0.12 0.12 0.10
£15,000 - £49,999 0.15 0.15 0.12
£50,000 - £99,999 0.18 0.18 0.15
£100,000+ 0.21 0.21 0.17

Previous Rates

Save Direct

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1 - £249 0.06 0.06 0.05 Yearly
£250 - £4,999 0.06 0.06 0.05
£5,000 - £14,999 0.09 0.09 0.07
£15,000 - £24,999 0.12 0.12 0.10
£25,000 - £49,999 0.15 0.15 0.12
£50,000 - £99,999 0.18 0.18 0.15
£100,000+ 0.21 0.21 0.17

Previous Rates

Save Wise

Effective from 11th March 2008

  Gross % AER% Net% Interest Credited
£1 - £4,999 0.06 0.06 0.05 Interest paid on full balance twice a year
£5,000 - £9,999 0.09 0.09 0.07
£10,000 - £49,999 0.12 0.12 0.10
£50,000+ 0.15 0.15 0.12

Previous Rates

Tessa Deposit

Effective from 11th March 2009

  Gross % AER% Net% Interest Credited
£1+ 0.06 0.06 0.05 -

Previous Rates

Personal Special Deposit & ID

Effective from 3rd April 2009

  Gross % AER % Net % Interest Credited
£1 - £4,999 0.06 0.06 0.05 Interest paid on full balance twice a year
£5,000 - £9,999 0.09 0.09 0.07
£10,000 - £49,999 0.53 0.53 0.42
£50,000 + 1.28 1.28 1.02

Previous Rates

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.

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