Interest rates

Current interest rates

The Bank of England Base Rate effective from 3rd November 2017 is 0.50%

Personal savings accounts
 BalanceGross interest rate/AER

Direct Transfer Account 2

£100 and over 0.35% (variable)

1 Year Fixed Term Deposit Account

£10,000 to £5,000,000

0.50% (fixed)

3 Year Fixed Term Deposit Account £10,000 to £5,000,000 0.80% (fixed)
 BalanceAER/tax free
E-Cash ISA 3 £10 and over 0.35% (variable)
Non-Personal savings accounts
Account nameBalanceGross Interest Rate/AER
Charity Deposit Account £500 and above 0.01% (variable)
Club and Association Deposit Account £500 and above 0.01% (variable)
Pension fund accounts
Account nameBalanceGross Interest Rate/AER
Pension Fund Deposit Account 2 £500 and above 0.01% (variable)

Accounts no longer available

Personal
Account nameBalanceGross Interest Rate/AER
Direct Transfer Account £100 and over 0.35% (variable)
E-cash ISA £10 and over 1.05% (variable, tax free)
E-cash ISA 2 £10 and over 0.75% (variable, tax free)

 

Non personal
Account nameBalanceGross Interest Rate/AER
Pensions Fund Deposit Account £500 and above 0.01% (variable)
Business Deposit Account £500 and above 0.01% (variable)
Trust Fund Deposit Account £500 and above 0.01% (variable)
1 Year Fixed Term Deposit Account (Non-Personal) £10,000–£5,000,000 0.50% (fixed)
3 Year Fixed Term Deposit Account (Non-Personal) £10,000 to £5,000,000 0.80% (fixed)

 

Pension Fund Accounts
Account nameBalanceGross Interest Rate/AER
3 Year Fixed Term Pension Fund Deposit Account £10,000 to £5,000,000 0.80% (fixed)

 

For previous interest rate information for any other account please call our customer service team on 0345 845 0829.

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 – Gross rate means that we will not deduct tax automatically from interest payments.  The account holder is responsible for paying any tax due to HMRC.

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.

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Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

Scottish Widows Unit Trust Managers Limited. Registered in England and Wales No. 1629925. Registered Office in the United Kingdom at Charlton Place, Andover, Hampshire SP10 1RE. Tel: 0345 300 2244. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 122129.

HBOS Investment Fund Managers Limited, registered in England number 941082. Registered office in the United Kingdom at Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 119223.

Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.

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