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Savings

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Savings Interest Rates
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On Thursday 1 August, the Bank of England decreased the base rate by 0.25% from 5.25% to 5.00%. As a result we’ve reduced the rates on our variable rate savings accounts.

We’ll write to our existing members to confirm our new interest rates which will take effect from 20 September.
Rates for existing accounts
Saver Plus - Issue 3
Face to Face or by Post
Interest Rate
4.61%
Gross/AER Variable
Key Information
  • The account can be opened face to face in our Relationship Centres or by post
  • Open an account with as little as £100, up to £1,000,000
  • Designed for those who can withdraw 4 times or fewer per year
  • Passbook based savings account
Withdrawals Permitted Yes
Opening Balance £100 minimum
Interest Rate
4.61%
Gross/AER Variable
More Information
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Less
Member Savings Bond 182
Face to Face or by Post
Interest Rate
4.25%
Gross/AER Fixed
Key Information
  • 4.25% Gross/AER fixed until 28 October 2026
  • You can invest from £500 up to £1,000,000 in each bond
  • Typically offers a higher interest rate than our Savings Bonds
  • Accounts can be opened in our Relationship Centres or by post by existing members who have held a product with us for at least 12 consecutive months prior to the date of application
Withdrawals Permitted No
Opening Balance £500 minimum
Interest Rate
4.25%
Gross/AER Fixed
More Information
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Less
Member Savings Bond 181
Face to Face or by Post
Interest Rate
4.41%
Gross/AER Fixed
Key Information
  • 4.41% Gross/AER fixed until 24 September 2025
  • You can invest from £500 up to £1,000,000 in each bond
  • Typically offers a higher interest rate than our Savings Bonds
  • Accounts can be opened in our Relationship Centres or by post by existing members who have held a product with us for at least 12 consecutive months prior to the date of application
Withdrawals Permitted No
Opening Balance £500 minimum
Interest Rate
4.41%
Gross/AER Fixed
More Information
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Savings Bond 184
Face to Face or by Post
Interest Rate
4.15%
Gross/AER Fixed
Key Information
  • 4.15% Gross/AER fixed until 28 October 2026
  • You can invest from £500 up to £1,000,000 in each bond
  • Ideal for lump sum deposits
  • The account can be opened face to face in our Relationship Centres or by post
Withdrawals Permitted No
Opening Balance £500 minimum
Interest Rate
4.15%
Gross/AER Fixed
More Information
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Less
Savings Bond 183
Face to Face or by Post
Interest Rate
4.31%
Gross/AER Fixed
Key Information
  • 4.31% Gross/AER fixed until 24 September 2025
  • You can invest from £500 up to £1,000,000 in each bond
  • Ideal for lump sum deposits
  • The account can be opened face to face in our Relationship Centres or by post
Withdrawals Permitted No
Opening Balance £500 minimum
Interest Rate
4.31%
Gross/AER Fixed
More Information
More
Less
2 Year Members Fixed Rate ISA - Issue 52
Face to Face or by Post
Interest Rate
4.25%
Tax-Free/AER Fixed
Key Information
  • 4.25% Tax-Free/AER fixed until 21 October 2026
  • You can invest from £500 up to £1,000,000 in each account
  • Typically offers a higher interest rate than our Fixed Rate ISAs
  • Accounts can be opened in our Relationship Centres or by post by existing members who have held a product with us for at least 12 consecutive months prior to the date of application
Withdrawals Permitted Yes, but will incur a penalty of 180 days interest on the amount withdrawn.
Opening Balance £500 minimum
Interest Rate
4.25%
Tax-Free/AER Fixed
More Information
More
Less
1 Year Members Fixed Rate ISA - Issue 51
Face to Face or by Post
Interest Rate
4.41%
Tax-Free/AER Fixed
Key Information
  • 4.41% Tax-Free/AER fixed until 17 September 2025
  • You can invest from £500 up to £1,000,000 in each account
  • Typically offers a higher interest rate than our Fixed Rate ISAs
  • Accounts can be opened in our Relationship Centres or by post by existing members who have held a product with us for at least 12 consecutive months prior to the date of application
Withdrawals Permitted Yes, but will incur a penalty of 90 days interest on the amount withdrawn.
Opening Balance £500 minimum
Interest Rate
4.41%
Tax-Free/AER Fixed
More Information
More
Less
2 Year Fixed Rate ISA - Issue 54
Face to Face or by Post
Interest Rate
4.15%
Tax-Free/AER Fixed
Key Information
  • 4.15% Tax-free/AER fixed until 21 October 2026
  • Guaranteed interest rate for the term of the account
  • Typically offers a higher interest rate than our Cash ISA
  • Open with a deposit of between £500 and £20,000
Withdrawals Permitted Yes, but will incur a penalty of 180 days interest on the amount withdrawn
Opening Balance £500 minimum
Interest Rate
4.15%
Tax-Free/AER Fixed
More Information
More
Less
1 Year Fixed Rate ISA - Issue 53
Face to Face or by Post
Interest Rate
4.31%
Tax-Free/AER Fixed
Key Information
  • 4.31% Tax-free/AER fixed until 17 September 2025
  • Guaranteed interest rate for the term of the account
  • Typically offers a higher interest rate than our Cash ISA
  • Open with a deposit of between £500 and £20,000
Withdrawals Permitted Yes, but will incur a penalty of 90 days interest on the amount withdrawn.
Opening Balance £500 minimum
Interest Rate
4.31%
Tax-Free/AER Fixed
More Information
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Less
Cash ISA
Face to Face or by Post
Interest Rate
3.75%
Tax-Free/AER Variable
Key Information
  • Tax-free returns to help your savings grow
  • Instant access to your money
  • Deposits can be made at any time during the tax year, subject to your annual ISA allowance
  • Open with £100 and save up to £20,000 each tax year
Withdrawals Permitted Yes
Opening Balance £100 minimum
Interest Rate
3.75%
Tax-Free/AER Variable
More Information
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Less
30 Day Notice
Face to Face or by Post
Interest Rate
3.75%
Gross/AER Variable
Key Information
  • Higher interest rate than Instant Access Saver
  • 30 days' notice required for withdrawals
  • Open an account with as little as £1, up to £1,000,000
  • The account can be opened face to face in our Relationship Centres or by post
Withdrawals Permitted Yes. 30 days' notice is needed
Opening Balance £1 minimum
Interest Rate
3.75%
Gross/AER Variable
More Information
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Less
Instant Access Saver
Face to Face or by Post
Interest Rate
3.60%
Gross/AER Variable
Key Information
  • The account can be opened face to face in our Relationship Centres or by post
  • Open an account with as little as £1, up to £1,000,000
  • Instant access to your money
  • Passbook based savings account
Withdrawals Permitted Yes
Opening Balance £1 minimum
Interest Rate
3.60%
Gross/AER Variable
More Information
More
Less

You can see the current interest rates for all our savings accounts here

Savings Interest Rates
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