Interest paid

The above rates apply to Sterling Deposits only. Currently, no interest is paid on foreign currency balances.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. The AER calculation does not take account of amounts which are retained in accordance with point 9.12 of our Terms and Conditions.

Payment terms

Interest, calculated on a daily basis, will be credited gross every six months, but sums of less than £20 will not be distributed. Where payment is made to you by BACS, interest on the sum concerned will be credited up to the date the payment is initiated. Similarly, where payment is made to you by cheque, interest will be credited up to the date of issuance of the cheque, irrespective of when either the cheque is presented or the funds reach the participant’s bank account.