OUR VARIABLE RATE SAVINGS ACCOUNTS WILL BE DECREASING
The majority of our variable rate savings products will be decreasing from 6 January 2025 – you can find full details below. We will shortly be notifying those customers affected by email or by letter.
Easy Access
| Account | Minimum Balance | Current Rate Gross | Current Rate Gross AER# | New Rate Gross | New Rate Gross AER# |
| Bond Saver 1st, 2nd, 3rd, 4th and 5th Issue | |||||
| Annual interest | £1,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | |||||
| Branch Saver 1st, 2nd, 3rd, 4th and 5th Issue | |||||
| Annual interest | £500 | 3.30% | 3.30% | 3.15% | 3.15% |
| (Rate effective from 6 January 2025) | £1+ | 3.20% | 3.20% | 3.05% | 3.05% |
| Deposit Branch Saver 1st and 2nd Issue | |||||
| Annual interest | £1,000+ | 3.30% | 3.30% | 3.15% | 3.15% |
| (Rate effective from 6 January 2025) | |||||
| Deposit Branch Saver 1st Issue (Clubs, Societies etc) | |||||
| Annual interest | £500+ | 3.30% | 3.30% | 3.15% | 3.15% |
| (Rate effective from 6 January 2025) | £1+ | 3.20% | 3.20% | 3.05% | 3.05% |
| Direct Access Share 1st and 2nd Issue | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | £1+ | 3.15% | 3.15% | 3.00% | 3.00% |
| Direct Access Deposit Personal | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | £1+ | 3.15% | 3.15% | 3.00% | 3.00% |
| Direct Access Deposit - 1st Issue | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | £1,000+ | 3.15% | 3.15% | 3.00% | 3.00% |
| Direct Access Deposit - 2nd Issue | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | £1,000+ | 3.15% | 3.15% | 3.00% | 3.00% |
| Instant Access | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | £1+ | 3.15% | 3.15% | 3.00% | 3.00% |
| Matured Capital Bond | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| £1+ | 3.15% | 3.15% | 3.00% | 3.00% | |
| Matured Savings Bond | |||||
| Annual interest | £50,000+ | 3.25% | 3.25% | 3.10% | 3.10% |
| £1+ | 3.15% | 3.15% | 3.00% | 3.00% | |
| Monthly Saver Account | |||||
| Annual interest | £20+ | 3.15% | 3.15% | 3.00% | 3.00% |
| (Rate effective from 6 January 2025) | |||||
| Ordinary Share | |||||
| Half-yearly | £50,000+ | 3.22% | 3.25% | 3.07% | 3.09% |
| (Rate effective from 6 January 2025) | £1+ | 3.12% | 3.14% | 2.97% | 2.99% |
| Personal Deposits | |||||
| Half-yearly | £1+ | 3.12% | 3.14% | 2.97% | 2.99% |
| (Rate effective from 6 January 2025) | |||||
| Capital Saver 1st, 2nd, 3rd and 5th Issue* | |||||
| Annual interest | £20,000+ | 4.05% | 4.05% | 3.80% | 3.80% |
| (Rate effective from 6 January 2025) | |||||
| Capital Saver 4th Issue* | |||||
| Annual interest | £50,000+ | 4.05% | 4.05% | 3.80% | 3.80% |
| (Rate effective from 6 January 2025) | |||||
| Classic Saver 1st, 2nd and 3rd Issue* | |||||
| Annual interest | £20,000+ | 4.05% | 4.05% | 3.80% | 3.80% |
| (Rate effective from 6 January 2025) | |||||
| Classic Saver 4th Issue* | |||||
| Annual interest | £5,000+ | 4.05% | 4.05% | 3.80% | 3.80% |
| (Rate effective from 6 January 2025) | |||||
| Online Saver 1st, 2nd and 3rd Issue* | |||||
| Annual interest | £100 | 4.05% | 4.05% | 3.80% | 3.80% |
| (Rate effective from 6 January 2025) | |||||
ISAs
| Account | Minimum Balance | Current Rate Gross | Current Rate Tax-free^AER# | New Rate Gross | New Rate Tax-free^AER# |
| 1st and 2nd Issue Cash ISA | |||||
| Annual interest | £1+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | |||||
| Guaranteed Cash ISA | |||||
| Annual interest | £1+ | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | |||||
| Online Cash ISA 1st Issue | |||||
| Annual interest | £100 | 3.25% | 3.25% | 3.10% | 3.10% |
| (Rate effective from 6 January 2025) | |||||
Notice accounts
| Account | Minimum Balance | Current Rate Gross | Current Rate Gross AER# | New Rate Gross | New Rate Gross AER# |
| Monthly High Income | |||||
| Monthly interest | £50,000+ | 4.73% | 4.83% | 4.48% | 4.57% |
| (Rate effective from 6 April 2025) | £1+ | 4.64% | 4.74% | 4.39% | 4.48% |
| 1st Issue 90 Day | |||||
| Annual interest | £50,000+ | 4.85% | 4.85% | 4.60% | 4.60% |
| (Rate effective from 6 April 2025) | £1+ | 4.75% | 4.75% | 4.50% | 4.50% |
| 2nd Issue 90 Day | |||||
| Annual interest | £50,000+ | 4.85% | 4.85% | 4.60% | 4.60% |
| (Rate effective from 6 April 2025) | £1+ | 4.75% | 4.75% | 4.50% | 4.50% |
| Direct 90 Notice | |||||
| Annual interest | £50,000+ | 4.85% | 4.85% | 4.60% | 4.60% |
| (Rate effective from 6 April 2025) | £1+ | 4.75% | 4.75% | 4.50% | 4.50% |
| Monthly interest | £50,000 | 4.73% | 4.83% | 4.48% | 4.57% |
| (Rate effective from 6 April 2025) | £1+ | 4.64% | 4.74% | 4.39% | 4.48% |
| 1st Issue Capital 120 | |||||
| Annual interest | £20,000+ | 5.15% | 5.15% | 4.90% | 4.90% |
| (Rate effective from 6 January 2025) | |||||
| 1st Issue Capital 120 | |||||
| Annual interest | £20,000+ | 4.90% | 4.90% | 4.65% | 4.65% |
| (Rate effective from 6 May 2025) |
Children's Savings
| Account | Minimum Balance | Current Rate Gross | Current Rate Tax-free^AER# | New Rate Gross | New Rate Tax-free^AER# |
| 1st Issue Cash Junior ISA | |||||
| Annual interest | £3,000+ | 4.60% | 4.60% | 4.35% | 4.35% |
| (Rate effective from 20 February 2025) | £1+ | 4.35% | 4.35% | 4.10% | 4.10% |
Notes:
#AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.
^Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.
~A maximum withdrawal limit of £25,000 per day, per account applies.
*No additional funds can be paid into these account(s).