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 |
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.
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 |
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 |
Savings Plus
Effective from 11th March 2009
| Gross% | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1+ | 0.50 | 0.50 | 0.40 | Yearly |
Linked Savings
Effective from 11th March 2009
| Gross% | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1+ | 0.25 | 0.25 | 0.20 | Yearly |
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
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 | - |
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 | - |
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 | |
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 |
High Interest Tracker
Effective from 11th March 2009
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| Standard rate (£1) | 0.25 | 0.25 | 0.20 | Yearly |
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 |
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 |
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 |
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 |
Tessa Deposit
Effective from 11th March 2009
| Gross % | AER% | Net% | Interest Credited | |
|---|---|---|---|---|
| £1+ | 0.06 | 0.06 | 0.05 | - |
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 |
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.
