These interest rates are correct as at 31/03/2014.
The contractual rate of interest payable before deduction of income tax at the rate specified by law.
The rate of interest which would be payable after allowing for the deduction of income tax at the rate specified by law.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER you can compare more easily what return you can expect from your savings over time.
EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.
Interest is normally paid at the net rate unless the account falls within an exempt category or the account holder qualifies to receive interest gross. Interest rates may vary from time to time. All rates are per annum except where stated.
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