Interest rates

The Bank of England Base Rate effective from 6th March 2009 is 0.5%.

Personal savings accounts

 Balance Gross interest rate/AER including bonus*Gross interest rate/AER without bonusNote
Direct Transfer Account £100 and over 2.80% (variable) 1.91% (variable) *The rate includes a bonus of 0.89% for the first 12 months.
 Balance AER/tax free 
E- Cash ISA £10 and over 2.50% (variable)  
 Balance  Gross/AER 
3 Year Fixed Term Deposit £10,000 – £5,000,000 3.50% (fixed)
5 Year Fixed Term Deposit Account £10,000 – £5,000,000  4.00% (fixed)
 

Non-Personal savings accounts

Non-personal saving accountBalanceGross Interest Rate/AER
1 Year Fixed Term Deposit Account (Non-Personal) £10,000 – £5,000,000 1.75% (fixed)
3 Year Fixed Term Deposit Account (Non-Personal) £10,000 – £5,000,000 3.50% (fixed)
5 Year Fixed Term Deposit Account (Non-Personal) £10,000 – £5,000,000 4.00% (fixed)
Cash Investment Account Instant Transfer option £50,000 and above 1.50% (variable)
£500 to £49,999 1.25% (variable)
Cash Investment Account 7-Day Notice option £50,000 and above 1.85% (variable)
£500 to £49,999 1.60% (variable)
Charity Deposit Account Instant Transfer option £50,000 and above 1.50% (variable)
£500 to £49,999 1.25% (variable)
Charity Deposit Account 7-Day Notice option £50,000 and above 1.85% (variable)
£500 to £49,999 1.60% (variable)
Club and Association Deposit Account Instant Transfer option £50,000 and above 1.50% (variable)
£500 to £49,999 1.25% (variable)
Club and Association Deposit Account 7-Day Notice £50,000 and above 1.85% (variable)
£500 to £49,999 1.60% (variable)
Trust Fund Deposit Account Instant Transfer £50,000 and above 1.50% (variable)
£500 to £49,999 1.25% (variable)
Trust Fund Deposit Account 7-Day Notice £50,000 and above 1.85% (variable)
£500 to £49,999 1.60% (variable)


Pension fund accounts

Pension fund accountsBalance Gross Interest Rate/AER
Pension Fund Deposit Account £50,000 and above 2.00% (variable)
£500 to £49,999 1.75% (variable)
3 Year Fixed Term Pension Fund Deposit Account £10,000 – £5,000,000 3.50% (fixed)
5 Year Fixed Term Pension Fund Deposit Account £10,000 – £5,000,000  4.00% (fixed)

 

Definitions

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).

Gross - This is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).

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

The AER advertised is based on interest paid gross and capitalised to the account once a year – please note that other interest payment periods may be available and the actual interest rate on your account will be lower if you have interest applied more frequently, but when compounded will equal the AER.

As part of the Lloyds Banking Group, Scottish Widows is proud to be an Official Provider of the London 2012 Olympic and Paralympic Games.

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Scottish Widows plc, registered in Scotland number 199549. Registered office in the United Kingdom at 69 Morrison Street, Edinburgh EH3 8YF. Telephone: 0131 655 6000. Scottish Widows plc is authorised and regulated by the Financial Services Authority. Our FSA register number is 191517.

Scottish Widows Unit Trust Managers Limited, registered in England and Wales number 1629925. Registered office in the United Kingdom at Charlton Place, Andover, Hampshire SP10 1RE. Telephone: 0845 300 2244. Scottish Widows Unit Trust Managers Limited is authorised and regulated by the Financial Services Authority. Our FSA register number is 122129.

Clerical Medical Investment Group Limited, registered in England and Wales number 3196171. Registered office in the United Kingdom at 33 Old Broad Street, London EC2N 1HZ. Authorised and regulated by the Financial Services Authority. Our FSA register number is 181655.

CMI Insurance Company Limited. Scottish Widows is a trading name of CMI Insurance Company Limited. CMI Insurance Company Limited, registered in Isle of Man number 33520. Registered office in the Isle of Man at Clerical Medical House, Victoria Road, Douglas, Isle of Man, IM99 1LT.

HBOS Investment Fund Managers Limited, registered in England number 941082. Registered office in the United Kingdom at Trinity Road, Halifax, West Yorkshire HX1 2RG. HBOS Investment Fund Managers Limited is authorised and regulated by the Financial Services Authority.

St Andrews Life Assurance plc, registered in England and Wales number 3104670. Registered office in the United Kingdom at 33 Old Broad Street, London EC2N 1HZ. Authorised and regulated by the Financial Services Authority. Our FSA register number is 189101.

Scottish Widows Bank plc, registered in Scotland no. 154554. Registered office in the United Kingdom at PO Box 12757, 67 Morrison Street, Edinburgh EH3 8YJ. Scottish Widows Bank plc is authorised and regulated by the Financial Services Authority. Our FSA register number is 201601. The main business of Scottish Widows Bank is arranging, entering into and administering mortgages and accepting deposits.

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