Interest Rates
|
|
| Current Interest Rates |
| Account |
Gross
% |
Gross AER
% |
Net
% |
| Four Month Notice (variable rate) Deposit Account |
3.95 |
4.01 |
3.16 |
| Six Month Notice (variable rate) Deposit Account |
4.70 |
4.78 |
3.76 |
| Twelve Month Notice (variable rate) Deposit Account |
5.00 |
5.00 |
4.00 |
| AER - Annual Equivalent Rate which illustrates what the interest rate would be if interest was paid and compounded annually. |
|
Historic Interest Rates
We pride ourselves in offering competitive rates on our savings products. If you wish to see the historic rates paid on our Six and Twelve Month Notice deposit accounts please click here.
Payment of interest
Interest accrues daily and is credited to the various savings products as follows:
|
|
| Product |
Period |
| Four Month Notice |
Quarterly (end March/June/Sept/Dec) |
| Six Month Notice |
Quarterly (end March/June/Sept/Dec) |
| Twelve Month Notice |
Annually (30 November) |
Variation of Interest Rates
Interest on the Four, Six and Twelve Month Notice deposit accounts is variable on 7 days notice.
Deduction of tax
Tax is normally deducted from interest credited to depositors. Interest on Fixed Rate Savings Bonds of £50,000 or more is paid without the deduction of tax. Interest can otherwise be paid without the deduction of tax upon receipt of a duly completed H M Revenue & Customs documentation. The appropriate forms are available on request.
A tax deduction certificate is available at the end of each tax year
on request.
|
