Our Savings Rates
Our Savings products at a glance
Current savings rates from 17 June 2020. We regularly review our savings accounts to ensure they remain competitive.
Important note – we currently have some restrictions in place for new customers applying for a savings account. The accounts available for new customers are our: Instant Access Business Online, Business Postal, Monthly Saver, Postal, Junior ISA (JISA) and Young Saver accounts. If you are an existing customer (as of no later than March 2020), these restrictions are not applicable and you can open additional accounts across our range. Please also note that the interest rates on our Cash ISA and 30 Day Notice accounts are due to decrease with effect from 30 September 2020. From that date, the annual rates on our Cash ISA will be 0.30% on balances below £35,000 and 0.40% over £35,000. Our 30 Day Notice account annual interest rate will change to 0.50%.
| Account | Minimum Deposit | Notes | Gross Rate / AER | |
|---|---|---|---|---|
| Junior Cash ISA | £1 | Subscription Limit 2020/21 £9,000**** | 1.75% Variable | More |
| Monthly Savings Account | £10 £10 | Excluding 0.60% 2020 conditional bonus Including 0.60% 2020 conditional bonus | 0.10% Variable 0.70%** Variable | More |
| Young Savers Account | £1 - £25,000*** | N/A | 1.00% Variable | More |
| Cash ISA | £1 £35,000 | Subscription Limit 2020/21 £20,000**** Subscription Limit 2020/21 £20,000**** | 0.50*% Variable 0.60%* Variable | More |
| Postal Account | £1,000 £75,000 | N/A N/A | 0.35%* Variable 0.50%* Variable | More |
| 30 Day Notice Account | £1,000 | N/A | 0.70%* Variable | More |
| Postal Business Account | £1,000 | N/A | 0.25% Variable | More |
| Business Online Account | £1,000 | N/A | 0.25% Variable | More |
| Instant Access Account | £1 | N/A | 0.25%* Variable | More |
| Fixed Rate Bond | N/A | N/A | Fixed | More |
Gross Rate - the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability.
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
The tax treatment or the rate of interest payable depends on individual circumstances and may be subject to change in the future.
*Monthly Interest is available on balances over £5,000 on certain accounts as indicated above at a reduced rate.
** Monthly Savings Account Monthly Savings Account includes a 0.60% bonus if all monthly subscriptions are received by December each year and the account remains open at 31 December.
***Young Savers Account Any balance that exceeds £25,000 will attract the lowest rate from the Instant Access Account
****Cash ISA/Junior Cash ISA Interest credited or paid annually at close of business on 5 April.