• Step Bond

    Online Step Bond 3 Year - Annual

  • Balance AER/Gross%
    Annual Interest Year 1
    £50,000+

    1.75

    £2,000-£49,999

    1.65

    Annual Interest Year 2
    £50,000+

    1.85

    £2,000-£49,999

    1.75

    Annual Interest Year 3
    £50,000+

    1.95

    £2,000-£49,999

    1.85

  • These interest rates are correct as at 10/12/2013.

    Online Step Bond 3 Year - Monthly

  • Balance AER% Gross%
    Monthly Interest Year 1
    £50,000+

    1.75

    1.74
    £2,000-£49,999

    1.65

    1.64
    Monthly Interest Year 2
    £50,000+

    1.85

    1.83
    £2,000-£49,999

    1.75

    1.74
    Monthly Interest Year 3
    £50,000+

    1.95

    1.93
    £2,000-£49,999

    1.85

    1.84
  • These interest rates are correct as at 10/12/2013.

    Explanation of terms

    AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

    Gross rate means that credit interest is paid without income tax being deducted. You can receive your interest paid gross if you are a non-tax payer and have completed an HMRC R85 form.

    Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

    Net rate is the rate of interest the account pays after lower rate tax has been deducted. If you are a non-taxpayer, you can reclaim the tax by completing an HMRC R85 form. As the rate of tax may vary, the net rate is given for illustration only and is rounded to two decimal places.

    Previous rates

    Step Bond 3 Year - Annual

    Balance Annual Interest Year 1 Annual Interest Year 2 Annual Interest Year 3
    AER/Gross% Net% AER/Gross% Net% AER/Gross% Net%
    £50,000+ 2.10 1.68 2.20 1.76 2.30 1.84
    £2,000-£49,999 2.00 1.60 2.10 1.68 2.20 1.76

    These interest rates were correct from 12/11/2013 to 09/12/2013.

    Step Bond 3 Year - Monthly

    Balance Monthly Interest Year 1 Monthly Interest Year 2 Monthly Interest Year 3
    AER% Gross% Net%  AER% Gross% Net% AER% Gross% Net%
    £50,000+ 2.10 2.08 1.66 2.20 2.18 1.74 2.30 2.28 1.82
    £2,000-£49,999 2.00 1.98 1.58 2.10 2.08 1.66 2.20 2.18 1.74

    These interest rates were correct from 08/10/2013 to 12/11/2013.

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