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Watch your savings grow and earn fixed interest for one year.
5.50% AER/gross on balances of £1 or more for 12 months from account opening.
Your interest is paid 12 months after you open the account.
No. This account has a fixed rate of interest so the rate won’t change during the term.
For example, if you make regular deposits of £250.00 every month, the balance after 12 months will be £3082.50.
This assumes:
You can open and manage this account:
Bear in mind:
No. You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months.
We'll open an Everyday Saver account as part of this application. After 12 months, any money you’ve saved in your Regular Saver plus interest will transfer into your Everyday Saver account. You can make as many withdrawals as you like from this account and there are no charges for doing so.
Gross rate means we won’t take off tax from the interest we pay on money in your account. You'll need to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account that shows an interest rate, you’ll see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
1.30% AER/gross on balances from £1 - £9,999.
1.35% AER/gross on balances from £10,000 - £49,999.
1.80% AER/gross on balances of £50,000 or more.
The interest rate is variable. Interest is paid 12 months after you open the account. The rate applies to the full balance.
Yes. As this account pays a variable rate of interest, it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.
For example, if you deposit £1000.00 when you open the account, the balance after 12 months will be £1013.00.
If you deposit £10000.00 when you open the account, the balance after 12 months will be £10135.00.
If you deposit £50000.00 when you open the account, the balance after 12 months will be £50900.00.
This assumes:
You can open and manage this account:
Bear in mind:
Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.
After 12 months the account will change to an Instant Saver. We'll contact you first to explain your options and next steps.
Gross rate means we won’t take off tax from the interest we pay on money in your account. You will need to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account that shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
If you’d prefer to speak to someone, give us a call or pop into your nearest branch.