Treasury Tracker Account Interest Rates
Account no longer available to new business. For account information, please call our Customer Services Staff 0845 845 0829.
Treasury Tracker Account (60 Day Notice)
| Minimum Balance | £500 | |||
| Minimum Withdrawal | £100 | |||
| Interest Rate (annual rate) | Fixed margin below Bank of England Base Rate | |||
| Bank of England Base Rate | Currently 0.50% | |||
| Previous Base Rate to 5 March 2009 | 1.00% | |||
Current Interest Rates
| Balance | Gross Interest Rate/AER |
|---|---|
| £500 and over | 0.25% per annum below base rate, giving a current rate of 0.25%. |
Previous Interest Rates
As a comparison the following table shows rates previously available from Scottish Widows Bank on the same account from 6 February 2009 to 5 March 2009.
| Balance | Gross Interest Rate/AER | £500 and over | 0.25% per annum below base rate, giving a current rate of 0.75%. |
|---|
Treasury Tracker Account (Call Account)
| Minimum Balance | £500 | |||
| Minimum Withdrawal | £100 | |||
| Interest Rate (annual rate) | Fixed margin below Bank of England Base Rate | |||
| Bank of England Base Rate | Currently 0.50% | |||
| Previous Base Rate to 5 March 2009 | 1.00% | |||
Current Interest Rates
| Balance | Gross Interest Rate/AER |
|---|---|
| £250,000 and above | 0.30% per annum below base rate, giving a current rate of 0.20%. |
| £99,999 to £249,999 | 0.40% per annum below base rate, giving a current rate of 0.10%. | £500 to £99,999 | 0.50% per annum below base rate, giving a current rate of 0.00%. |
Previous Interest Rates
As a comparison the following table shows rates previously available from Scottish Widows Bank on the same account from 6 February 2009 to 5 March 2009.
| Balance | Gross Interest Rate/AER |
|---|---|
| £250,000 and over | 0.30% per annum below base rate, giving a current rate of 0.70%. |
| £500 to £99,999 | 0.40% per annum below base rate, giving a current rate of 0.60%. | £1 and over | 0.50% per annum below base rate, giving a current rate of 0.50%. |
Interest Payment Options
Interest will be paid quarterly on the first business day of January, April, July and October.
Definitions
On the interest rate table you may see some terms you are unfamiliar with. These are:
AER — Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. (As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time).
Gross — This is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).
The AER advertised is based on interest paid gross and capitalised to the account once a year - please note that the actual interest rate on your account will be lower as you have interest applied more frequently, but when compounded this will equal the AER.
