Current Savings Rates from 6 April 2016 (all rates are variable). Please contact the Savings Team for further information. With effect from 21 June 2016, we are suspending Cash ISA transfers in from other providers as this is now oversubscribed. We are still accepting New Cash ISA applications for this tax year.
We offer a range of straightforward savings products to suit your needs
|Junior Cash ISA||*Gross Rate / *AER|
|Monthly Savings Account||*Gross Rate / *AER|
|£10+||Excluding 0.80% bonus||0.60%|
|Including 0.80% bonus||1.40%**|
|Young Savers Account||*Gross Rate / *AER|
|£1 - £25,000***||1.50%|
|Cash ISA Monthly Interest Available||*Gross Rate / *AER|
|Postal Account Monthly Interest Available||*Gross Rate / *AER|
|30 Day Notice Account Monthly Interest Available||*Gross Rate / *AER|
|Postal Business Account | Business On Line Account||*Gross Rate / *AER|
|Instant Access Account Monthly Interest Availible||*Gross Rate / *AER|
From 6 April 2016, interest is paid gross on all accounts. A Tax Free Personal Savings Allowance applies to all savings income paid
- The first £1000 of savings interest that basic rate tax payers earn (£500 for higher rate tax payers) will be free from income tax
- The new allowance means that most people will no longer pay tax on their savings interest
- From 6 April 2016, you will need to make arrangements to pay any tax you may owe directly to HM Revenue and Customs
For more information, please click here
*AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
*Gross Rate - the contractual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.
The tax treatment or the rate of interest payable depends on individual circumstances and may be subject to change in the future.
From 6 April 2015, spouses and civil partners of ISA holders who have died since 3 December 2014 are able to inherit an additional ISA allowance. Click here for more details
Interest credited or paid annually.
** Monthly Savings Plan includes a 0.80% bonus if all monthly subscriptions are received during the year
^Monthly interest is available on balances over £5000 on certain accounts as indicated above
***Any balance that exceeds £25000 will attract the lowest rate from the Instant Access Account
Rates of interest for closed issues, deposits and monthly income schemes are available on request.