Savvy Saver

Savvy Saver 

The interest rate paid on this account is as below:

Rate effective from 28 January 2026.

Monthly interest is calculated each day on the available money in your account and is paid on the last day every month.

The interest rate for this account is variable. This means we can change it at any time. You can find full details in our Savings Terms and Conditions.

If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER variable*.

This is based on no further money being paid in or taken out of the account and no change to the interest rate.

Projection based on monthly interest being paid into your account

Projection of average monthly interest if being paid away to your nominated bank account or another account with us

Monthly interest payment will change depending on the number of days in the month.

Your projected balance will be £5,000 in 12 months if your interest is paid away each month.

• You must be 16 or over and a UK resident to have this account.
• You can open your account in branch, by post.
• You need to pay money into your account within 30 days of opening it. If you don't we'll close the account.
• You'll need to keep a minimum balance of £5,000.00 in your account to get the interest rate.
• The maximum amount you can pay into this account is £2,000,000.00.
• You can manage the account in branch, by post, by phone, on webchat.
• Interest can be transferred monthly to your nominated bank account or another account with us - interest withdrawals do not count towards your four-withdrawal restriction

Yes, you can take money out of this account at anytime, but restricted to four times per anniversary year.

Anniversary year starts on the day you opened the account.

The number of withdrawals limit is reset on the account Annual Anniversary date each year.

You can close this account at any time but closure counts as a withdrawal.

Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.

If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk. 

* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.

New fraud rules from 7 October 2024 mean that with this product, you're eligibility to claim for fraud has changed. For more information please click here.