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Instant Transfer Account

Instant Transfer Account Interest Rates

This account is no longer available to new business. For account information please call our customer service team on 0345 845 0829.

Summary Box
Key Product Information for our Savings Account(s)
Account Name Instant Transfer Account
Interest Rates
Please see below for full information.
Interest rates are variable.
Tax Status Interest will be paid gross and you will be responsible for paying any tax due to HMRC.
Conditions for Bonus Payment No bonus payment applies to this account.
Withdrawal Arrangements No notice period or charges for withdrawals.
Access Internet/Phone/Post

Current Interest Rates

Effective from 10th August 2020
Balances Gross Interest Rate/AER (variable)
£100 and over 0.01%

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, six monthly or annually is available for Instant Transfer 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 HMRC.

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.