Cash ISA Account Interest Rates
For account information please call our Customer Services Staff on: 0845 845 0829.
Current Interest Rates
| Balance Tier | AER/tax free including bonus* | AER/tax free without bonus | |||
|---|---|---|---|---|---|
| £50,000 and over | 2.10% | 0.60% | |||
| £25,000 to £49,999 | 2.05% | 0.55% | |||
| £10 to £24,999 | 2.00% | 0.50% | |||
| *The above rate includes a 1.50% interest rate bonus for the first 12 months. | |||||
Previous Interest Rates
As a comparison the following table shows rates previously available (including introductory bonus) from Scottish Widows Bank on the same account from 1 March 2009 to 1 April 2009.
| Balance Tier | AER/tax free including bonus* | AER/tax free without bonus | |||
|---|---|---|---|---|---|
| £50,000 and over | 2.60% | 1.10% | |||
| £25,000 to £49,999 | 2.55% | 1.05% | |||
| £10 to £24,999 | 2.50% | 1.00% | |||
| *The above rate includes a 1.50% interest rate bonus for the first 12 months. | |||||
Interest Payment Periods
Interest is paid six monthly on 1 April and 1 October.
Definitions
On the interest rate table you may see some terms you are unfamiliar with. These are:
Tax Free — This is the contractual rate of interest payable where interest is exempt from income tax.
AER — Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. (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).
The AER advertised is based on interest paid gross and capitalised to the account once a year - please note that the actual interest rate on your account will be lower as you have interest applied more frequently, but when compounded this will equal the AER.
