Interest rates

Listed below are the current interest rates for our on sale and off sale bank accounts and savings products. All of our accounts, excluding Fixed Term Deposits, are subject to variable rates of interest.

Please note that the interest rates on some of our accounts are changing. You can find information on what the rates will be changing to and on what date in the interest rate tables relevant to each account.

Term Deposit Account [Off Sale] - £ pounds

Term Balance Gross % p.a. AER % p.a.
3 months £50,000+ 0.30% 0.30%
6 months £50,000+ 0.40% 0.40%
9 months £50,000+ 0.50% 0.50%
12 months £50,000+ 0.70% 0.70%
24 months £50,000+ 0.80% 0.80%
36 months £50,000+ 1.00% 1.00%

Rates may vary and are correct as at 2 April 2020

Please note that this product is no longer on sale.

  • No withdrawals/closures or additional deposits are permitted during the fixed term. However, should there be extenuating circumstances, early withdrawal/closure will be considered, at the complete discretion of Cater Allen Limited. In these instances your account will only be credited with the capital. In the event of the death of the holder of the account, the capital will be repaid with interest earned to date
  • Interest rates are fixed on the day of deposit for the entire term of the deposit
  • Interest rates will be calculated daily and will be credited on maturity (some exemptions apply)
  • For terms of three years, interest can be paid annually by request
  • At maturity, if instructions are not provided we will open a Term Maturity Account and transfer your Term Deposit funds into it.

The gross rate is the interest rate we pay where no income tax has been deducted.

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