When applying online or when you provide an email address; our main way of communicating with you about your account will be by email, unless a letter is required.
Interest is calculated daily on each penny in the 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.
The treatment of your account for tax purposes will depend on your individual circumstances and 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.gov.uk
The tax information provided is based on our understanding of current law and HMRC practice, both of which may change
The interest rates and information in this summary box are effective from 1 May 2019.