Interest rates

To view the current interest rates applying to your savings please click on the account type below.

Current Savings Accounts (rates effective from 6 April 2009 unless otherwise stated)

Second Issue Cash ISA
1st Issue 45 Day Notice Cash ISA (rates effective from 1 March 2010)
4th Issue Fixed Rate Cash ISA 2 and 3 year term (rates effective from 16 November 2009)
Direct Access Share (updated 1 November 2009)
Monthly Saver
Notice Saver (rates effective from 16 August 2010)
Branch Saver (rate effective from 2 November 2009)
Bond Saver (rate effective from 1 May 2010)
40th Issue Savings Bond - fixed rate for 1 year (rate effective from 21 May 2010)
40th Issue Savings Bond - fixed rate for 2 years (rate effective from 21 May 2010)
40th Issue Savings Bond - fixed rate for 3 years (rate effective from 21 May 2010)

Savings Accounts no longer available (rates effective from 6 April 2009 unless otherwise stated)

Guaranteed Cash ISA 2009/10 (rate effective 6 April 2010)
Guaranteed Cash ISA 2005/06, 2006/07, 2007/08 & 2008/09
First Issue Cash ISA
1st Issue Index Linked Cash ISA (rate effective 1 October 2008)
2nd Issue Index Linked Cash ISA (rates effective 16 August 2010)
Monthly High Income
90 Day 1st Issue
90 Day 2nd Issue
Direct 90 Notice
Ordinary Share
Instant Access/Direct Access Deposit (updated 1 November 2009)
Personal Deposit

Current Savings Accounts
(Rates effective from 6 April 2009 unless otherwise stated)

PRODUCTS	Balance	Gross	Net	Gross AER
Second Issue Cash ISA Annual Interest	£1+	1.81%	Tax-free	1.81%	back to top
1st Issue 45 Day Notice Cash ISA (rate effective 1 March 2010)	£35,000+	3.10%	Tax-free	3.10%	back to top
	£20,000+	2.80%	Tax-free	2.80%
	£15,000+	2.70%	Tax-free	2.70%
	£10,000+	2.60%	Tax-free	2.60%
	£5,000+	2.50%	Tax-free	2.50%
	£3,000+	2.00%	Tax-free	2.00%
4th Issue Fixed Rate Cash ISA (rate effective 16 November 2009) 2 year term Annual Interest	£1,000+	3.00%	Tax-free	3.00%	back to top
4th Issue Fixed Rate Cash ISA (rate effective 16 November 2009) 3 year term Annual Interest	£1,000+	3.25%	Tax-free	3.25%
Direct Access Share Annual Interest	£50,000+	1.50%	1.20%	1.50%	back to top
	£500+	1.26%	1.01%	1.26%
(rate effective 1 November 2009)	£1+	0.40%	0.32%	0.40%
Monthly Saver Annual Interest	£20+	1.50%	1.20%	1.50%	back to top
Notice Saver (rates effective from 16 August 2010) Annual Interest	£100,000+	2.70%	2.16%	2.70%	back to top
	£50,000+	2.40%	1.92%	2.40%
	£10,000+	2.20%	1.76%	2.20%
	£1,000+	2.00%	1.60%	2.00%
Monthly Interest	£100,000+	2.67%	2.14%	2.70%	back to top
	£50,000+	2.37%	1.90%	2.40%
	£10,000+	2.18%	1.74%	2.20%
	£1,000+	1.98%	1.58%	2.00%
Branch Saver (rate effective from 2 November 2009) Annual Interest	£500+	2.11%	1.69%	2.11%	back to top
	£1+	0.80%	0.64%	0.80%
Bond Saver (rate effective from 1 May 2010) Annual Interest	£1,000+	2.35%	1.88%	2.35%	back to top
40th Issue Savings Bond - fixed rate for 1 year (rate effective from 21 May 2010)
Annual Interest	£1,000+	2.70%	2.16%	2.70%	back to top
Monthly Interest	£5,000+	2.67%	2.14%	2.70%
40th Issue Savings Bond - fixed rate for 2 years (rate effective from 21 May 2010)
Annual Interest	£1,000+	3.25%	2.60%	3.25%	back to top
Monthly Interest	£5,000+	3.20%	2.56%	3.25%
40th Issue Savings Bond - fixed rate for 3 years (rate effective from 21 May 2010)
Annual Interest	£1,000+	3.76%	3.01%	3.76%	back to top
Monthly Interest	£5,000+	3.70%	2.96%	3.76%

What were the previous interest rates?

Savings Accounts no longer available
(Rates effective from 6 April 2009 unless otherwise stated)

PRODUCTS	Balance	Gross	Net	Gross AER
Guaranteed Cash ISA 2009/10 (rate effective from 6 April 2010) Annual Interest	£1+	1.81%	Tax-free	1.81%	back to top
Guaranteed Cash ISA 2005/06, 2006/07, 2007/08 & 2008/09 Annual Interest	£1+	1.81%	Tax-free	1.81%	back to top
First Issue ISA Annual Interest	£1+	1.81%	Tax-free	1.81%	back to top
1st Issue Index Linked Cash ISA Annual Interest *Plus variable RPI Indexation interest on maturity	£5,100+	2.60%*	Tax-free	2.60%*	back to top

2nd Issue Index Linked Cash ISA (rates effective 16 August 2010) fixed until 30 September 2015. Annual Interest *Plus variable RPI Indexation interest on maturity	£5,100+	1.00%*	Tax-free	1.00%*	back to top
Instant/Direct Access Deposit Annual Interest	£50,000+	1.50%	1.20%	1.50%	back to top
	£500+	1.26%	1.01%	1.26%
(rate effective 1 November 2009)	£1+	0.40%	0.32%	0.40%
Ordinary Share Half Yearly	£50,000+	1.50%	1.20%	1.51%	back to top
	£1+	1.26%	1.01%	1.26%
Personal Deposit Half Yearly	£1+	1.16%	0.93%	1.16%	back to top
Monthly High Income Monthly Interest	£50,000+	1.35%	1.08%	1.36%	back to top
	£5,000+	1.25%	1.00%	1.26%
90 Day 1st Issue Annual Interest	£10,000+	1.60%	1.28%	1.60%	back to top
90 Day 2nd Issue Annual Interest	£50,000+	1.60%	1.28%	1.60%	back to top
	£1,000+	1.41%	1.13%	1.41%
Direct 90 Notice Annual Interest	£50,000+	1.60%	1.28%	1.60%	back to top
	£5,000+	1.41%	1.13%	1.41%
Monthly Interest	£50,000+	1.35%	1.08%	1.36%
	£5,000	1.25%	1.00%	1.26%
What were the previous interest rates? AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded. Gross interest is the rate payable before the deduction of income tax at the rate specified by law (currently 20%) and can only be paid or credited gross subject to the required certification. Net interest is the rate payable after the deduction of income tax at the rate specified by law (currently 20%). Where the tax deducted exceeds an individual's tax liability (if any) a claim may be made to HM Revenue & Customs for repayment of tax. Individuals whose income falls within the basic rate band will have no more tax to pay on their interest. Individuals who are higher rate tax payers will have to pay the extra tax due on their interest (the difference between tax deducted at 20% and the higher rate of 40%). Tax Free - interest is paid tax free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.