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 name||Interest rate at 24th August 2016||New 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.