Savings Account

Interest is calculated daily and credited monthly.

Yes, we can change the interest rate on this account in line with the account's Terms and Conditions.

The estimated balance after 12 months would be as follows:

initial deposit of £1,000 For the purpose of this calculation it is assumed:-
 

• no additional deposits
• no withdrawals
• the interest rate remains the same during the 12 months.

Projection provided for illustrative purposes only and does not take into account individual circumstances.

Eligibility:

• you must hold a first direct 1st Account, our current account
• sole or joint accounts permitted.

How to open the account:

• apply by phone.

Minimum/Maximum Balance:

• a minimum of £1 must be deposited to open an account
• there is no maximum balance.

How to manage the account:

• once opened you can manage your account using Online Banking, by phone or by post.

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like.

A 14 day cancellation period applies to this account.

We do not deduct tax from any interest paid to you.

Tax benefits depend on individual circumstances and could change in the future.

Definitions

* AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.

* Gross is the rate of interest if interest were paid and not compounded each year.

Rates correct as of 1 December 2022