Correct as at 1 December 2017
Interest is paid ‘gross’. This means that we do not deduct tax from the interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest. There are more details on our website at danskebank.co.uk/savingsrates.
AER stands for ‘Annual Equivalent Rate’ and illustrates what the interest rate would be if interest was paid and compounded (paid on the total balance including previous interest) once each year.
As every advertisement for a savings product that pays interest will quote an AER, you will be able to compare more easily what return you can expect from your savings over time.
We set the credit interest rate which is variable (this may be subject to change in the future). We will give you two months' written notice of any reductions to the credit interest rate. If we increase the credit interest rate on your account we will make the change immediately.
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