How does interest work for Savings Pots?
How your interest is calculated and paid depends on the type of Savings Pot you have.
Instant Access & Select Access Savings (including Cash ISAs)
When it starts earning: The same day you add money to your Pot.
When it's paid: We calculate your interest daily and pay it directly into your Pot on the first day of every month.
Closing your Pot: If you close the Pot, we will immediately pay any interest you have earned so far that month into your main account.
For Fixed Rate Savings (including Cash ISAs)
Your money starts earning on the day you deposit it into your pot. You’ll then earn interest daily and we’ll pay it into your pot on maturity date.
If you close your Fixed Rate Savings before the maturity date, there will be an early exit interest loss: you will forfeit up to 25% of the term's total interest (equivalent to 90 days of interest on a 1-year term, 180 days for 2 year term and 270 days for a 3 year term). This penalty is capped at the amount of interest you have earned so far, so your original deposit is never at risk.
Easy Access Savings (including Cash ISAs)
When it starts earning: The working day after you add money to your Pot.
When it's paid: We calculate your interest daily and pay it directly into your Pot on the first day of every month.
Closing your Pot: If you close the Pot, we will pay any interest you have earned so far that month into your main account on the first day of the next month.
Checking your interest:
To see how much interest you have earned over time:
Head to the Grow Tab
Tap on Savings
Tap on your Savings Pot.
Scroll down to the Interest section.
