These were the interest rates we paid on balances that were in credit.
|
Date |
Account |
Balance |
AER |
Gross (before tax each year) |
Net (after tax each year) |
|---|---|---|---|---|---|
DatePrior to 06 Dec 2009 |
Account |
BalanceThe first £2,500 |
AER2.50% |
Gross (before tax each year)2.47% |
Net (after tax each year)1.98% |
DatePrior to 06 Dec 2009 |
Account |
BalanceAny amount over £2,500 |
AER0.10% |
Gross (before tax each year)0.10% |
Net (after tax each year)0.08% |
DatePrior to 06 Dec 2009 |
Account |
BalanceAny amount |
AER0.10% |
Gross (before tax each year)0.10% |
Net (after tax each year)0.08% |
DatePrior to 20 Feb 2009 |
Account |
BalanceAny amount |
AER2.02% |
Gross (before tax each year)2.00% |
Net (after tax each year)1.60% |
DatePrior to 24 Sept 2018 |
AccountCardcash^ |
BalanceAny amount |
AER1.51% |
Gross (before tax each year)1.50% |
Net (after tax each year)1.20% |
DatePrior to 24 Sept 2018 |
Account |
BalanceAny amount |
AER1.51% |
Gross (before tax each year)1.50% |
Net (after tax each year)1.20% |
The annual equivalent rate (AER) shows what the interest rate would be if we paid interest on the full balance once a year.
Please note interest paid before 6th April 2016 will have been paid net (unless you registered the account with us to receive gross interest). Net is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).
From 6th April 2016 interest is paid Gross, meaning we will not deduct tax on your behalf. Dependent on your personal circumstances, tax may be due on your interest and it is your responsibility to disclose and pay any tax due directly to HMRC.
^Please note that we don't pay interest on balances that are in credit in Cardcash accounts held by customers over 18.