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Savings & investments

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Savings rates

This page provides a summary of the rates that apply to our savings accounts.

Full copies of the fees and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions page.

30 Day Bonus

Including bonus

Balance Gross
Rate
AER (variable)
100,000 + 0.90% 0.90%
50,000 - 99,999 0.75% 0.75%
25,000 - 49,999 0.75% 0.75%
2000 - 24,999 0.75% 0.75%
0 - 1,999 0.10% 0.10%

A conditional interest bonus of 0.50% gross per annum
Account Interest is paid annually at the end of March and is calculated on the daily cleared credit balance, provided that no more than four withdrawals are made per year.

Excluding bonus

Balance Gross
Rate
AER (variable)
100,000 + 0.40% 0.40%
50,000 - 99,999 0.25% 0.25%
25,000 - 49,999 0.25% 0.25%
2000 - 24,999 0.25% 0.25%
0 - 1,999 0.10% 0.10%

Interest paid annually
Note: withdrawals require 30 day notice
Last updated on: 24/07/09

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Reward Reserve

Including all interest rewards

Balance Gross Rate AER (variable)
50,000 + 0.80% 0.80%
25,000 - 49,999 0.75% 0.75%
2000 - 24,999 0.70% 0.70%
0 - 1,999 0.10% 0.10%

Quarterly reward amount - 0.25% (gross per annum)
Quarterly interest rewards are payable provided the account balance does not fall below 2,000 for more than four days per quarter and no more than one withdrawal is made per quarter.

Annual reward amount - 0.25% (gross per annum)
Annual interest rewards are only payable (on a pro-rata basis) providing no more than three withdrawals are made in any one year. Should you close your account during a quarter or annual period, you would not receive any quarterly or annual reward for that period.

Excluding all interest rewards

Balance Gross Rate AER (variable)
50,000 + 0.30% 0.30%
25,000 - 49,999 0.25% 0.25%
2000 - 24,999 0.20% 0.20%
0 - 1,999 0.10% 0.10%

Interest paid quarterly and annually
Last updated on: 24/07/09

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First Reserve

Balance Gross Rate AER (variable)
0 + 0.10% 0.10%

First Saver (previously Young Saver)

Balance Gross Rate AER (variable)
25,000 + 0.50% 0.50%
0 - 25,000 1.00% 1.00%

Interest paid quarterly
Last updated on: 20/12/13

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Cash Management

These rates change on a daily basis. For further information please contact your local branch.

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Fixed Term Deposits

These rates change on a daily basis. For further information please contact your local branch.

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Common definitions

Throughout this page, you'll see various terms being used. Here's what they mean:

Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts, which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.

Effective Annual Rate of Interest (EAR) - This is the real annual cost of an overdraft, stated as an annual rate, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, must be shown separately from the EAR.

Gross Rate - This means the interest rate you are paid before the deduction of income tax.

Nominal Rate - The rate charged excluding compounding of interest and other charges associated with a borrowing, e.g. arrangement and security fees.

p.a. - per annum (per year).

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