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Interest rates

Interest rates

See below for current, future and historical rates for Saga Savings Accounts provided and administrated by Birmingham Midshires that are now closed to new customers.

Following the Bank of England’s decision on 5 May 2022 to increase the Bank Rate to 1.00%, we have increased some of our interest rates. 

Please click the links above to see which interest rates were increased on 14 June 2022.

AER stands for Annual Equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Tax free is the rate of interest payable to you where your interest is exempt from income tax.