Interest Rates and charges

Savings

For current products

Effective from 31st August 2018.

Personal savings accounts

Account name Balance Gross interest rate/AER Charges
Direct Transfer Account 2 £100 and over 0.60% (variable) Withdrawals by CHAPS transfer to another UK account - £25
We may charge for duplicate statements - £5
1 Year Fixed Term Deposit Account £10,000 to £5,000,000 0.65% (fixed) Withdrawals by CHAPS transfer to another UK account - £25 
We may charge for duplicate statements - £5
3 Year Fixed Term Deposit Account £10,000 to £5,000,000 0.80% (fixed) Withdrawals by CHAPS transfer to another UK account - £25 
We may charge for duplicate statements - £5
Account name Balance AER/tax free Charges
E-Cash ISA 3 £10 and over 0.60% (variable) Withdrawals by CHAPS transfer to another UK account - £25
We may charge for duplicate statements - £5

Non-Personal savings accounts

Account name Balance Gross interest rate/AER Charges
Charity Deposit Account £500 and above 0.10% (variable) Withdrawals by CHAPS transfer to another UK account - £25
We may charge for duplicate statements - £5
Club and Association Deposit Account £500 and above 0.01% (variable) Withdrawals by CHAPS transfer to another UK account - £25 
We may charge for duplicate statements - £5

Pension Fund Accounts

Account name Balance Gross interest rate/AER Charges
Pension Fund Deposit Account 2 £500 and above 0.01% (variable) Withdrawals by CHAPS transfer to another UK account - £25 
We may charge for duplicate statements - £5
  • Personal

    Account name Balance Gross interest rate/AER
    Direct Transfer Account £100 and over 0.60% (variable)
    E-cash ISA £10 and over 1.05% (variable, tax free)
    E-cash ISA 2 £10 and over 0.75% (variable, tax free)

    Non personal

    Account name Balance Gross interest rate/AER
    Pensions Fund Deposit Account £500 and above 0.01% (variable)
    Business Deposit Account £500 and above 0.01% (variable)
    Trust Fund Deposit Account £500 and above 0.01% (variable)

    For previous interest rate information for any other account please call our customer service team on 0345 845 0829

Definitions

AER – Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. (As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time).

Gross – Gross rate means that we will not deduct tax automatically from interest payments.  The account holder is responsible for paying any tax due to HMRC.

Tax Free – This is the contractual rate of interest payable where interest is exempt from income tax.

The AER advertised is based on interest paid gross and capitalised to the account once a year – please note that other interest payment periods may be available and the actual interest rate on your account will be lower if you have interest applied more frequently, but when compounded will equal the AER.

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