Interest Rates

Please refer to the Product Special Conditions and Savings General Terms and Conditions for full product details. All interest rates are variable except where indicated.

If you have a fixed rate account, the interest rates are not included here. Please refer to your original terms and conditions for the interest rate payable as this will not change before the maturity date.

Please click here for the Current interest rates for our Variable Rate Savings Accounts

Please click here for the Previous interest rates for our Variable Rate Savings Accounts

  • All interest will be paid gross without tax taken off.
  • You may still be required to pay tax if your savings interest is above your Personal Savings Allowance (PSA). It is your responsibility to advise the appropriate tax authorities of any interest recovered.
  • Please refer to the GOV.UK website and search for Personal Savings Allowance for details on the different tax thresholds and what action may be required by you.
  • We can deduct any tax from the rate of interest where we’re allowed to do so by law.
  • If you are responsible for tax in a country other than the UK, or in addition to any UK tax responsibility you may have, we may provide details of your Account to the tax authorities of these other countries if we’re required to do so by law.

Important Information - New Personal Savings Allowance

In a radical reform to the savings tax system, HM Revenue and Customs (HMRC) are creating a new Personal Savings Allowance which will be effective from April 2016, exempting the first £1,000 of savings income from any tax for basic rate taxpayers and the first £500 for higher rate taxpayers, saving up to £200 off an annual tax bill. This will not apply to additional rate taxpayers.

The changes mean that interest will be paid gross and tax won’t be deducted. You don’t need to do anything following 6th April 2016, the changes will happen automatically.

Further information on these changes is also available from HMRC by visiting: https://www.gov.uk/government/publications/personal-savings-allowance-factsheet