Interest is paid on each whole pound 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.
- Tax-free is the contractual rate of interest payable where interest is exempt
from income tax.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.
The interest rate and information in this summary box are effective from 1 May 2018.