|Balance||Interest Paid Annually|
|Tax Free % / AER with 12 months bonus||Tax Free % / AER % without 12 month bonus|
* Accounts opened will receive a fixed introductory bonus of 0.50% for 12 months from the date of account opening. At the end of the bonus period, variable rates without bonus will apply. Interest is paid annually on 31 March. We issue statements annually.
If you would like to move other cash ISAs to us, once we have your completed cash ISA transfer authority form, we’ll ask your existing provider to transfer the money to us. We’ll pay interest at your new ISA rate from the day your money leaves your existing account, ensuring you earn interest everyday of the transfer process. The transfer process should take no more than 15 working days, but if it takes longer, we’ll pay you interest at your new ISA rate from the 16th working day, as long as your money was able to be transferred when we first made the transfer request. We will keep you updated on our progress.
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.