|
Yearly Interest |
Monthly Interest |
| Term |
Access |
Save from |
Balance |
Gross /
AER% |
Net% |
|
Gross /
AER% |
Net% |
|
3 years |
Postal |
£1 |
£1-£9,999.99
|
2.25 |
1.80 |
Apply
for Yearly interest |
2.23/2.25 |
1.78 |
Apply
for Monthly interest |
£10,000 -
£24,999.99 |
2.35 |
1.88 |
2.32/2.34 |
1.86 |
£25,000 -
£49,999.99 |
2.45 |
1.96 |
2.42/2.45 |
1.94 |
£50,000+
|
2.55 |
2.04 |
2.52/2.55 |
2.02 |
Rates correct as at 13 March 2013.
Net rates are illustrative only, allowing for the deduction of income tax at 20%. If you are a higher rate tax payer, you may have a further amount to pay. If more tax is deducted than you have to pay this can be reclaimed from HMRC.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.