Glossary of terms

AER Stands for Annual Equivalent Rate, and shows you what the rate would be if interest was paid and added to your account each year (excluding any bonus interest payable).

Capital Your investment, not including any interest earned.

Fixed rate The interest rate is guaranteed not to change during a fixed term.

Gross rate The rate of interest paid before deduction of income tax.

Instant access An account where you can access your money straight away.

ISA Individual Savings Account. A type of account launched by the Government in April 1999 to enable UK savers to keep all that you earn from that investment and not pay any tax on it.

Minimum investment The minimum amount of money required to open an account.

Maximum investment The maximum amount of money which can be held in this account.

Net rate The rate of interest paid after the deduction of income tax, currently 20%.

Notice period The amount of time you have to give before you can withdraw funds from a savings account without incurring any penalties. For example, the Cashbuild 60 Account requires 60 days' notice.

R85 form This can be completed by UK residents only, if you are eligible to receive interest without paying income tax.

Variable rate The rate of interest paid can change according to market conditions and/or changes to the Bank of England Base Rate.