Island Instant Access Account

Current Interest Rates

Interest rates are correct as at 02 January 2009

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.05 0.05
£1,000+ 0.05 0.05
£5,000+ 0.10 0.10
£10,000+ 0.10 0.10
£25,000+ 0.20 0.20

Previous Interest Rates

Interest rates from 01 December 2008

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.10 0.10
£1,000+ 0.15 0.15
£5,000+ 0.20 0.20
£10,000+ 0.30 0.30
£25,000+ 0.40 0.40

*GROSS RATE: The contractual rate of interest payable before deduction of income tax at the rate specified by law.

**AER - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER - Annual Equivalent Rate - you can compare more easily what return you can expect from your savings over time.