Interest is calculated on each whole pound in the account.
When you reach 23 years old, your FlexOne Regular Saver account will be closed and any balance transferred to an instant access savings account.
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 HM Revenue & Customs' (HMRC) website hmrc.co.uk
The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.
The interest rate and information in this summary box are effective from 25 May 2018.