(This offer is now closed to new applications)
Interest Rates
Interest received |
Gross AER* |
Gross p.a. |
Net of tax** p.a. |
| Monthly | 4.35% | 4.27% | 3.42% |
| Annually | 4.35% | 4.35% | 3.48% |
| All at maturity | 4.35% | 4.57% | 3.66% |
Interest will be paid into your nominated UK bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Interest will be fixed for the term of the deposit and will not be compounded.
** "Net of tax" shows the interest rate payable after deduction of UK lower rate income tax (currently 20%).
Interest payment
Monthly interest is paid on the sixth day of each month and annual interest is paid on 6th July. If the interest payment date is not a business day, the payment will be made on the next business day. Interest payable all at maturity will be paid on 6 October 2014. Interest will be paid by BACS transfer and normally takes 3-4 business days to clear into your nominated UK bank account, depending on your bank.
Tax status
- Interest payments on deposits of less than £50,000 will be made net of (i.e. after deducting) UK lower rate tax (unless you have submitted a R85 form).
- Interest payments on deposits equal to or greater than £50,000 will be made gross of (i.e. without deducting) UK lower rate tax.
- The tax treatment of a deposit depends on your individual circumstances and may be subject to change in the future and to HMRC requirements.
Access
Withdrawals from and additions to the deposit are not permitted. Accordingly, you cannot terminate the deposit before the maturity date of 6 October 2014.
Other restrictions
- Changes to your details can only be made in writing, signed by the account holder(s).