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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.

Common definitions

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

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

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.

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).

Interest rates for savings accounts

Interest rates for savings accounts no longer available to new customers

Instant saver

Balance Gross
Rate
AER (variable)
1+ 0.25% 0.25%

Interest paid monthly
Last updated on: 31/10/2016

First Saver

Balance Gross Rate AER (variable)
0+ 0.75% 0.75%

Interest paid quarterly
Last updated on: 01/12/2017

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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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Cash Management Account

Currency Gross Rate AER
Sterling 0.00% 0.00%
US Dollar 0.00% 0.00%
Euro 0.00% 0.00%
All other currencies 0.00% 0.00%

Last updated on: 03/01/17

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30 Day Bonus Reserve

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%
2,000 - 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 on the first working day of April 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%
2,000 - 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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First Reserve

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

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Island Reserve

Including all interest rewards

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

Interest paid quarterly

Last updated on: 24/07/09

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