a minimum of £1 must be deposited to open the account.

apply by chat in Online Banking and through the App.

this account can only be opened in sole names.

you must hold a first direct 1st Account, our current account.

Projection provided for illustrative purposes only and does not take into account individual circumstances.

the without bonus calculation assumes a withdrawal is made in each of the 12 months.

the with bonus calculation assumes no withdrawals are made in any of the 12 months.

the interest rate remains the same during the 12 months.

The estimated balance after 12 months would be as follows:Ĥ.00% AER (3.93% gross) on first £50,000 then 2.30% AER (2.28% gross) on any balance above £50,000.Ģ.00% AER (1.98% gross) on the whole balance.įor the purpose of these calculations it is assumed: What would the estimated balance be after 12 months based on a range of deposits? Yes, we can change the interest rate on this account in line with the account's Terms and Conditions. Only the part of the balance above £50,000 will earn the lower rate of interest.Ĭan first direct change the interest rate? Interest is calculated daily and credited monthly.īonus interest is not paid in any calendar month where a withdrawal is made or the account is closed.īonus interest is paid in any month where a withdrawal is not made or the account not closed.īalances up to £50,000 will earn the higher rate of interest. Gross is the rate of interest if interest were paid and not compounded each year. This shows you what the rate would be if interest were paid and compounded each year.

sole accounts only and one account per person.ĪER stands for Annual Equivalent Rate.

earn the higher interest rate on balances up to £50,000.

instant access if you need it by an internal transfer to your first direct Current Account.

bonus rate applies for every calendar month you don't make a withdrawal.

Knowing this should be just enough to curb the temptation. Don't worry - you can still get at your money if you need to, but for that month the interest will only be 2.00% AER (1.98% gross). Every month you don't make a withdrawal, we'll give you a bonus rate of 4.00% AER (3.93% gross) variable on balances up to £50,000. Because dipping into your savings can be tempting, our Bonus Savings Account rewards you for establishing virtuous saving habits.

Online savings bonus