Closed issue accounts - Monthly income
Monthly income account
The Monthly income account lets you use the interest on your savings as a regular source of income. Interest is paid monthly into your bank or building society account. Further information.
Current rates
| Account balance | Gross* | Net** | AER*** |
|---|---|---|---|
| Current rates effective from 24/04/08. Tiered rates of interest - the more you save, the more you could earn. The interest rates that we pay on this account may go up and down from time to time. While the balance is below the minimum investment (£1,000), the interest rate payable will be the same as that payable for our Investment Share account (excluding bonus interest rates) as varied from time to time (please call 0845 300 2511 for details). We also reserve the right to close the account if the minimum investment is not maintained. | |||
| £100,000 and over (excluding conditional 0.5% bonus) | 2.95% | 2.36% | 2.99% |
| £100,000 and over (including conditional 0.5% bonus) | 3.45% | 2.76% | 3.51% |
| £50,000 - £99,999 (excluding conditional 0.5% bonus) | 2.45% | 1.96% | 2.48% |
| £50,000 - £99,999 (including conditional 0.5% bonus) | 2.95% | 2.36% | 2.99% |
| £25,000 - £49,999 (excluding conditional 0.5% bonus) | 2.20% | 1.76% | 2.22% |
| £25,000 - £49,999 (including conditional 0.5% bonus) | 2.70% | 2.16% | 2.73% |
| £10,000 - £24,999 (excluding conditional 0.5% bonus) | 2.10% | 1.68% | 2.12% |
| £10,000 - £24,999 (including conditional 0.5% bonus) | 2.60% | 2.08% | 2.63% |
| £1,000 - £9,999 (excluding conditional 0.5% bonus) | 2.00% | 1.60% | 2.02% |
| £1,000 - £9,999 (including conditional 0.5% bonus) | 2.50% | 2.00% | 2.53% |
Previous rates
| Account balance | Gross* | Net** | AER*** |
|---|---|---|---|
| Previous rates effective from 21/02/08. Tiered rates of interest - the more you save, the more you could earn. The interest rates that we pay on this account may go up and down from time to time. While the balance is below the minimum investment (£1,000) the interest rate payable will be the same as that payable for our Investment Share account (excluding bonus interest rates) as varied from time to time (please call 0845 300 2511 for details). We also reserve the right to close the account if the minimum investment is not maintained. | |||
| £100,000 and over (excluding conditional 0.5% bonus) | 3.30% | 2.64% | 3.35% |
| £100,000 and over (including conditional 0.5% bonus) | 3.80% | 3.04% | 3.87% |
| £50,000 - £99,999 (excluding conditional 0.5% bonus) | 2.80% | 2.24% | 2.84% |
| £50,000 - £99,999 (including conditional 0.5% bonus) | 3.30% | 2.64% | 3.35% |
| £25,000 - £49,999 (excluding conditional 0.5% bonus) | 2.55% | 2.04% | 2.58% |
| £25,000 - £49,999 (including conditional 0.5% bonus) | 3.05% | 2.44% | 3.09% |
| £10,000 - £24,999 (excluding conditional 0.5% bonus) | 2.35% | 1.88% | 2.38% |
| £10,000 - £24,999 (including conditional 0.5% bonus) | 2.85% | 2.28% | 2.89% |
| £1,000 - £9,999 (excluding conditional 0.5% bonus) | 2.25% | 1.80% | 2.27% |
| £1,000 - £9,999 (including conditional 0.5% bonus) | 2.75% | 2.20% | 2.27% |
Definitions
* Interest will be paid gross (that is before the deduction of income tax) to non-taxpayers subject to eligibility and the required registration. Otherwise interest will be paid after deduction of income tax at the appropriate rate. Please note that gross interest can only be paid to customers aged 16 or over if they are the named account holder.
** Net rates (that is after the deduction of income tax) shown are for illustrative purposes only. The interest you earn on this account will currently be taxed at the rate of 20%.
*** AER means Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.