Interest rate definitions explained:
- AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
- Gross p.a. is the interest rate without tax deducted.
You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please visit HMRC’s website hmrc.gov.uk
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
The rates and information in this summary box are correct as at 1 December 2016.