Savings & Investments
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Interest rates: Advantage 50+ Saver - Issue 1

No longer avaliable

Current interest rates

Effective 29 March 2009

Balance £ Interest Type Tracking Rate %
above/below
BoE Base Rate
Gross Rate P.A. %
(variable)
Net Rate P.A. %
(variable)
AER %
(variable)
£100,000 and above  Annual Interest +0.25 0.75% 0.60% 0.75%
£50,000 to £99,999  Annual Interest +0.05 0.55% 0.44% 0.55%
£25,000 to £49,999  Annual Interest -0.10 0.40% 0.32% 0.40%
£5,000 to £24,999  Annual Interest -0.35 0.15% 0.12% 0.15%

Interest rate guaranteed to track the Bank of England base rate (0.50%)

Balance £ Interest Type Gross Rate P.A. %
(variable
Net Rate P.A. %
(variable)
AER %
(variable)
£100,000 and above Monthly Interest 0.74%

0.59%

0.75%
£50,000 to £99,999 Monthly Interest 0.54% 0.43% 0.55%
£25,000 to £49,999 Monthly Interest 0.39% 0.31% 0.40%
£5,000 to £24,999 Monthly Interest

0.14%

0.11% 0.15%

Previous interest rates

Effective 22 February 2009

Balance £ Interest Type Tracking Rate %
above/below
BoE Base Rate
Gross Rate P.A. %
(variable)
Net Rate P.A. %
(variable)
AER %
(variable)
£100,000 and above  Annual Interest +0.25 1.25% 1.00% 1.25%
£50,000 to £99,999  Annual Interest +0.05 1.05% 0.84% 1.05%
£25,000 to £49,999  Annual Interest -0.10 0.90% 0.72% 0.90%
£5,000 to £24,999  Annual Interest -0.35 0.65% 0.52% 0.65%

Interest rate guaranteed to track the Bank of England base rate (1.00%)

Balance £ Interest Type Gross Rate P.A. %
(variable
Net Rate P.A. %
(variable)
AER %
(variable)
£100,000 and above Monthly Interest 1.24%

0.99%

1.25%
£50,000 to £99,999 Monthly Interest 1.04% 0.83% 1.05%
£25,000 to £49,999 Monthly Interest 0.89% 0.71% 0.90%
£5,000 to £24,999 Monthly Interest

0.64%

0.51% 0.65%

AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.


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