Savings explained

If you're saving for something in the long term - university fees or house deposit, for example - and you're sure you won't need access to your savings in the near future, you may want to consider a fixed term savings product.

You may wish to consider our:

Fixed term savings products can offer higher rates of interest than accounts that give you instant access to your money, but you'll be putting your money away for a set period of time - usually something between 3 months and 3 years.

If you think you'll need to dip into your savings from time to time, you may want to consider an Instant access savings account that allows you to withdraw money without a penalty or loss of interest.

In addition, our Online Bonus Saver account offers bonus interest for every month that you don’t make a withdrawal. 

You may wish to consider our:

We offer a savings account designed especially for children between 7 and 17 called MySavings.

Depending on your risk preferences, you may like to consider an investment in one of our ready-made portfolios.

If you choose to invest through our financial planning service, we’ll help you decide on an investment strategy and we’ll recommend portfolios that reflect the level of risk you’re comfortable with.

Investments are available from £25,000 lump sum or £500 per month. 

Please remember that the value of investments, and any income received from them, can fall as well as rise, is not guaranteed and you may not get back the amount you invested. This could also happen as a result of changes in currency exchange rates, particularly where overseas securities are held or where investments are converted from one currency to another. We always recommend that any Investments held should be viewed as a medium to long-term investment, at least five years.

AER

This stands for Annual Equivalent Rate. It shows what the interest rate would be before any tax deductions if interest was paid and compounded each year.

Gross 

Is the rate of interest if interest were paid and not compounded each year.

Notice Period

With some accounts you have to let the bank know in advance if you want to take your money out, and pay a penalty or lose interest payments if you withdraw money immediately. It's wise to check the notice period required before you open a savings account.