Monthly Saver rates

Amount Invested	Annual Interest
	AER %	Gross %
£1+	2.00	2.00

These interest rates are correct for new accounts opened on or after 30/06/2016. Interest is paid on maturity.

Interest rates are fixed for the term of the account, which is 12 months from the date of account opening - View Monthly Saver account information.

Explanation of terms

AER
Annual Equivalent Rate - 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
Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

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