Savings Rate Calculator | Savings | YBS
Savings rate calculator
We've introduced tiered interest rates on variable rate savings products. Changing how we apply interest means we can increase rates on lower balances, helping more members.
The balance and interest rate are calculated presuming:
- There will be no withdrawals made within the 12 months
- There are no changes to the current interest rate
- All interest earned is added to the account
- Where a savings product has a fixed rate term of over 12 months, interest will be added at the end of the fixed term
How tiered interest works
Products with two interest rate tiers
Balance up to £20,000 | £20,000.01 and above |
---|---|
3.95% | 3.85% |
For example, the balance of £30,000 earns interest across two different rates; the first £20,000 earns 3.95% interest and the additional £10,000 earns 3.85%. After 12 months, your estimated balance would be £31,175.00 using a blended interest rate of 3.91% based on the rates in both tiers.
Saving balance of £30k
