Variable Rate Accounts

Our variable rate accounts offer competitive rates of interest. Access to your money is subject to the withdrawal restrictions set out below.

In the event that the balance falls below the minimum operating balance as stated within the relevant product details below, the basic savings rate of interest, which is currently 0.05% Gross p.a/ AER (variable) for non-ISA accounts and 0.05% Tax-Free§ p.a. / AER (variable) for Cash ISA accounts, shall apply. The Cash ISA accounts are not Flexible Cash ISAs meaning any amount withdrawn cannot be replaced and will count towards your yearly ISA limit.

 

  • Limited Issue Online Access ISA (Issue 7)

    1.38%

    Tax-free§ p.a./AER† (variable)

    Please note, if you opened this product between 04 October 2018 and 14 October 2018 inclusive, your interest rate will increase from 1.36% to 1.38% with effect from 15 October 2018. Any interest accrued from this date will be calculated in line with the new rate.

    • Interest paid: On maturity (01 December 2019).
    • Minimum investment & operating balance: £1,000
    • Maximum investment: Deposit up to £20,000 in the 2018/2019 tax year. The maximum balance is £250,000 including 2018/2019 ISA funds, previous year ISA funds and accrued interest.
    • Withdrawals: Unlimited withdrawals can be made to your Nominated Accounts (as defined in the General Conditions) without notice or loss of interest, subject to the minimum balance of £1000 being maintained. Cash and cheque withdrawals are not permitted.
    • Important information about our Limited Issue Online Access ISA (Issue 7):

      When money is paid into your account, provided the payment is received by us between 7am and 7pm, you will be able to withdraw the funds that day.

      The Society’s online savings service will be unavailable each day for 1 hour between 12 midnight and 1am while our systems update.

    This account is limited issue. This account may be closed for further deposits upon a minimum of 30 days' written notice after which you will not be able to deposit further funds.

    Full details
  • Smart Saver

    For balances between £5,000 and £24,999.99:

    0.90% Gross p.a./AER(variable)

    For balances between £25,000 and £49,999.99:

    1.00% Gross p.a./AER(variable)

    For balances between £50,000 and £250,000:

    1.10% Gross p.a./AER(variable)

    The maximum balance is £250,000 (joint accounts also) including accrued interest. If the balance exceeds £250,000 the interest rate that shall apply to the whole balance will be 0.50% Grossp.a/AER (variable).

    • Interest paid: Annually on 30 September (commencing 30 September 2019).
    • Minimum operating balance: £5,000
    • Maximum balance: £250,000 (also for joint accounts)
    • Withdrawals: Access is limited to 5 withdrawals per calendar year (including account closure) without notice or loss of interest, subject to the minimum balance of £5,000 being maintained. If you exceed this number of withdrawals, the account will be subject to 30 days' loss of interest or an equivalent amount on the amount withdrawn.

    This account may be closed to further deposits upon a minimum of 30 days’ written notice after which you will not be able to invest further funds.

    Full details
  • Rainy Day ISA

    For balances between £10,000 and £24,999.99:

    0.75% Tax-free§ p.a./AER(variable)

    For balances between £25,000 and £49,999.99:

    0.80% Tax-free§ p.a./AER(variable)

    For balances between £50,000 and £250,000:

    0.85% Tax-free§ p.a./AER(variable)

    If the balance exceeds £250,000 (including accrued interest) the interest rate that will apply to the whole balance will be 0.50% Tax-free§p.a/AER (variable).

    • Interest paid: Annually on 30 September (commencing 30 September 2018).
    • Minimum operating balance: £10,000
    • Maximum balance: Deposit up to £20,000 in the 2018/2019 tax year. The maximum balance is £250,000 including 2018/2019 ISA funds, previous year ISA funds and accrued interest.
    • Withdrawals: Access is limited to 6 withdrawals per calendar year without notice or loss of interest, subject to the minimum balance of £10,000 being maintained. If you exceed this number of withdrawals (including closure of the account), the account will be subject to 30 days' loss of interest on an amount equivalent to that withdrawn.

    The account may be closed for further investment upon a minimum of 30 days written notice after which you will not be able to invest further funds.

    Full details
  • E-Saver

    Interest rate:

    0.60% Gross p.a./AER (variable)

    • Interest paid: Annually on 31 October (commencing 31 October 2018)
    • Minimum operating balance: £100
    • Maximum balance: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest to the account
    • Withdrawals: Unlimited withdrawals can be made to your Nominated Accounts (as defined in the General Conditions) subject to the minimum balance of £100 being maintained. Cash and cheque transactions are not permitted (except for your initial deposit, which may be made by cheque).

    The account may be closed for further deposits upon a minimum of 30 days written notice after which you will not be able to deposit further funds.

    Full details
  • Access Saver

    Interest Rate:

    0.50% Gross p.a./AER (variable)

    • Interest paid: Annually on 31 May (commencing 31 May 2019)
    • Minimum operating balance: £1
    • Maximum balance: £1,000,000 (£2,000,000 for joint accounts) plus accrued interest to the account
    • Withdrawals: Unlimited subject to the minimum balance of £1 being maintained

    This account may be closed for further deposits upon a minimum of 30 days' written notice after which you will not be able to invest further funds.

    Full details
  • ISA Saver

    0.50% Tax-free§ p.a./AER† (variable)

    • Interest paid: Annually on 05 April (commencing 05 April 2019).
    • Minimum operating balance: £1
    • Maximum balance: Deposit up to £20,000 in the 2018/2019 tax year
    • Withdrawals: Unlimited withdrawals can be made without notice or loss of interest.

    The account may be closed for deposits upon a minimum of 30 days’ written notice after which you will not be able to deposit further funds.

    Full details