• The Jargon

    We'd rather not use it, but just so you know, here's what some of the worst offenders actually mean.

     

    Gross Rate

    Gross interest is the annual rate of interest you'll earn from a savings account before tax is taken off.

    Tax-Free

    Tax-free means you are exempt from UK Income Tax. Tax treatment is dependent on the personal circumstances of each customer and may be subject to change in the future. 

    Best Rate Guarantee

    This means that on variable rate products, we promise you’ll always receive the same rate as new customers on like-for-like products. And on our fixed rate products, you’ll receive the interest rate shown at the time you apply or if we increase our product rate before you make your initial deposit, you’ll receive the higher interest rate. 

    AER

    AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year. 

    Term Breakage Charge

    This is a charge or loss of interest applied if you make a withdrawal from a Fixed ISA product. 

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