(1) Interest is calculated on the last day of each month and is paid on the first day of the next month.
(2) You can get the 5% rate on more than one FlexDirect account as long as you haven’t opened accounts in that name or those joint names before. For example, you could earn the 5% rate on both an account in just your name, and on a joint account in your and your partner’s names. If you open new accounts in the same name or jointnames as previous accounts, they'll earn the standard 1% AER rate, even if you’ve closed the first accounts in those names.
* Overdrafts are only available to customers aged 18 or over and are subject to approval.