Interest Rates
| Effective from | Rate guaranteed for 12 months from account opening gross P.A. | Reverting to our variable Cash ISA gross p.a rate | AER | |||||
| 19-08-2011 | 2.96% | 1.00% | 3.00% |
- Upon opening a 2011/12 Cash ISA customers will receive 3.00% AER (2.96% gross p.a) tax free, guaranteed for 12 months from account opening and then reverting to our standard variable Cash ISA rate currently 1.00% AER. (1.00% gross p.a,)
- The interest is calculated daily and paid monthly.
- The tax year runs from 6 April to 5 April the following year.
- A Cash ISA allows you to save from £1 to up to the maximum subscription limit each tax year and you can keep it open for as long as you like.
- Please note that current tax year transfers in to your 2011/12 Cash ISA are not permitted. To find out how you can transfer your previous years Cash ISA to us click here
- Please remember you have a maximum Cash ISA allowance of £5,340. This means that you cannot deposit more than £5,340 in this tax year, even if you make a withdrawal. For example if you save £5,340, then take out £500 you cannot make another deposit until the next tax year.
- AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
- Gross per annum is the annualised rate before deduction of tax at standard rate
- Full details of historical base rates are available from the Bank of England Website