Correct as at 1st August 2019
SaverPlus - We will give account holders two months’ written notice of any reductions to the variable credit interest rate(s) applicable on the account.
|Danske Midas Notice
The Danske Midas Notice Account product rate will reduce to 0.85% Gross / AER from 1 June 2020.
Danske Midas Notice Account - Where the balance in the Danske Midas Notice Account is £100 or more, we will give account holders 109 calendar days' notice of any reduction in the credit interest rate paid on the account where the balance in your Danske Midas Notice Account is £100 or more. This is equivalent to 14 days plus the 95 day notice period required for withdrawals from the account. You will also receive a reminder 14 days before the decrease takes effect. Where we hold an email address for you, we will send this information by email.
Interest is calculated daily and applied annually in October.
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 shows what the yearly rate of interest would be, after considering how often interest is added to the account, and assuming no withdrawals are made. 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.