HelpBudgeting, overdrafts and savingsHow does interest work on a Savings Pot?

How does interest work on a Savings Pot?

Deposits start earning interest the next working day, and you’ll earn 1.0% AER / gross interest per year.

The interest is calculated daily, but gets paid monthly on the first working day.

We can’t tell you exactly how much you’ll earn, but if you deposit £1000, you’ll probably earn approximately £10 after 12 months.

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