Current interest rates
The following higher interest rate is paid when no withdrawals have been made out of the Reward Saver since the account was opened, in the case of the first month, or since interest was last paid into the account.
Rates effective from |
Balance |
Gross rate per year % |
AER % |
|---|---|---|---|
|
18 March 2024 |
£1+ |
2.72 |
2.75 |
The following lower interest rate is paid when withdrawals have been made out of the Reward Saver since the account was opened, in the case of the first month, or since interest was last paid into the account.
Balance |
Gross rate per year % |
AER% |
|---|---|---|
|
£1+ |
1.00 |
1.00 |
Further information
Mortgage offset |
Yes. Remember, if you offset your savings account against your mortgage, you won’t earn any interest on your savings account. |
|---|---|
Interest rate |
Rates are variable. Interest is calculated daily using your statement balance and is paid on the first working day of each month. |
Gross |
The rate of interest payable without tax taken off. |
Tax |
Interest is paid gross. If you’re a UK taxpayer, you may have to pay tax on interest earned in excess of your Personal Savings Allowance. For further information and guidance, please refer to HMRC’s website Please note, it’s your responsibility to ensure that any tax due on interest payments received is paid to the appropriate tax authority. |
AER |
Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded once each year. |
For additional information, download our Reward Saver terms and conditions [PDF, 108KB]. They are in addition to the general conditions of your Customer Agreement with us.
Read important information about our interest rates, the Financial Services Compensation Scheme, and your cancellation rights.