A higher rate of interest that’s worth waiting for
60 Day Notice Account Interest Rates
The 60 Day Notice Account offers an impressive rate of return. And the interest rate is tiered — the more you have in your account the higher the interest rate.
Full details of our interest rates can also be obtained 24 hours a day, on our Interest Information Line — 0870 845 0829.
This account is an ideal deposit facility for people who do not need ready access to their funds and who want a premier interest rate. Minimum balance is £100.
| Effective from 1st May 2008 | ||||
| Balances | Gross Interest Rate* | Annual Equivalent Rate* including bonus | Annual Equivalent Rate | |
|---|---|---|---|---|
| £50,000 and over | 5.49% | 5.12% | 4.74% | |
| £25,000 to £49,999 | 5.44% | 5.07% | 4.69% | |
| £10,000 to £24,999 | 5.34% | 4.97% | 4.59% | |
| £100 to £9,999 | 5.29% | 4.92% | 4.54% | |
*The above rate includes a 0.75% interest rate bonus for new customers in the first 6 months.
As a comparison the following table shows rates previously available (including introductory bonus) from Scottish Widows Bank on the same account from 1st March 2008 to 30th April 2008.
| Balances | Gross Interest Rate* | Annual Equivalent Rate* including bonus | Annual Equivalent Rate |
|---|---|---|---|
| £50,000 and over | 5.74% | 5.37% | 4.99% |
| £25,000 to £49,999 | 5.69% | 5.32% | 4.94% |
| £10,000 to £24,999 | 5.59% | 5.22% | 4.84% |
| £100 to £9,999 | 5.54% | 5.17% | 4.79% |
*The above rate includes a 0.75% interest rate bonus for new customers in the first 6 months on the first account you open.
Interest Payment Periods
A choice of interest payment periods of either 1,3,6 or 12 months is available for Instant Transfer and 60 Day Notice accounts.
Rates are variable. We can pay interest gross to non-tax payers, subject to the required certification. Otherwise income tax is deducted at the lower rate tax, currently 20%.
Definitions
On the interest rate table you may see some terms you are unfamiliar with. These are:
Gross — This is the contractual rate of interest payable not taking account of the deduction of income tax at the lower rate.
AER — Stands for Annual Equivalent Rate, and illustrates what the interest rate would be if interest was paid and compounded once each year.
The AER advertised is based on interest paid and capitalised to the account once a year — please note that the actual interest rate on your account will be lower if you choose to have interest applied more frequently.
