Easy access to your money with our simple savings account
Instant Saver 2 Account Interest Rates and Charges
Current Interest Rates and Charges
Effective from 10th August 2020
|Balance||Gross Interest Rate/AER (variable)||Charges|
|£100 and over||0.01%||Withdrawals by CHAPS transfer to another UK account - £25
We may charge for duplicate statements - £5
Previous Interest Rates
For previous interest rate information for your account please contact our customer service team on
0345 845 0829.
Interest Payment Periods
A choice of interest payment periods of either monthly*, quarterly or annually is available for Instant Saver 2 Accounts.
*On request for balances in excess of £10,000
On the interest rate table you may see some terms you are unfamiliar with. These are:
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 your interest. You are responsible for paying any tax due to HM Revenue and Customs.
The AER advertised is based on interest paid gross and capitalised to the account once a year - please note that other interest payment periods are 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.