Interest rate changes on our savings accounts

After careful consideration and to balance the needs of our borrowers and savers, we'll be reducing the rate on a number of our savings accounts from the 5th October 2016.

The changes are detailed in the table below.

Rates correct as of 5 September 2016

Account nameInterest rate at 24th August 2016New Rate from 5th October 2016
90 Day Notice Account 1.75% Gross1 p.a./AER2 0.75% Gross1 p.a./AER2
90 Day Notice Account (Issue 2) 1.75% Gross1 p.a./AER2 0.75% Gross1 p.a./AER2
Freedom 30 1.50% Gross1 p.a./AER2 0.65% Gross1 p.a./AER2
Freedom 30 (Issue 2) 1.50% Gross1 p.a./AER2 0.65% Gross1 p.a./AER2
Freedom 30 (Issue 3) 1.00% Gross1 p.a./AER2 0.65% Gross1 p.a./AER2
Maturity Access Account 0.75% Gross1 p.a./AER2 0.50% Gross1 p.a./AER2

 

1 Gross means the rate of interest payable before the deduction of income tax, at the rate specified by law.

2 AER stands for Annual Equivalent Rate. It illustrates what the interest rate would be if interest was paid and added each year.