We regularly monitor and compare our interest rates to ensure our product offering is both in line with market activity and sustainable for the long-term future of your member-owned bank. As a result, the interest rates on the Bonus Saver (including Student Money Saver and Future Start) and Pension Plus accounts will be reduced.
These changes will be effective from Friday, 25 September 2020. To make these rate changes easier to understand, we've created the below table.
Savings & Transaction Deposit Account Interest Rates
|Balance from||Balance less than||New Interest Rate (%)||Previous Interest Rate (%)|
|Bonus Saver, Student Money Saver and Future Start||$1||And over||1.00||1.20|
|This 1.00% interest rate comprises of 0.01% (0.01%) base rate and 0.99% (1.19%) bonus rate. Interest is calculated on daily balances on a tiered basis. Interest is paid monthly.
|Interest is calculated on daily balances on a stepped basis. Interest is paid monthly.|