Escalator Bonus Account
ESCALATOR BONUS - Annual Interest (closed account)
| Including Bonus | Excluding Bonus | |||
|---|---|---|---|---|
| Account Balance | AER/Gross % | Net % | AER/Gross % | Net % |
| £100,000 & over | 1.00 | 0.80 | 0.50 | 0.40 |
| £50,000 - £99,999 | 1.00 | 0.80 | 0.50 | 0.40 |
| £25,000 - £49,999 | 0.60 | 0.48 | 0.10 | 0.08 |
| £10,000 - £24,999 | 0.60 | 0.48 | 0.10 | 0.08 |
| £5,000 - £9,999 | 0.60 | 0.48 | 0.10 | 0.08 |
| £1,000 - £4,999 | 0.60 | 0.48 | 0.10 | 0.08 |
Rates effective from 1st April 2009
ESCALATOR BONUS - Monthly Interest (closed account)
| Including Bonus | Excluding Bonus | |||
|---|---|---|---|---|
| Account Balance | AER/Gross % | Net % | AER/Gross % | Net % |
| £100,000 & over | 0.95 | 0.76 | 0.45 | 0.36 |
| £50,000 - £99,999 | 0.95 | 0.76 | 0.45 | 0.36 |
| £25,000 - £49,999 | 0.55 | 0.44 | 0.05 | 0.04 |
| £10,000 - £24,999 | 0.55 | 0.44 | 0.05 | 0.04 |
| £5,000 - £9,999 | 0.55 | 0.44 | 0.05 | 0.04 |
Rates effective from 1st April 2009
Important Information
- Interest rates are variable and calculated on a daily basis. Bonus rates are fixed (unless otherwise stated), calculated on a daily basis and paid annually in accordance with the account terms and conditions.
- 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. As every advert for a savings product will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
- The gross rate is the contractual rate of interest payable before the deduction of income tax at the specified rate.
- 'Net' means the rate of interest payable after income tax is deducted at the appropriate rate, currently 20%.
- Full terms and conditions are available on request.
