All interest rates are available and are effective as at 9th September 2008.
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £250 (£100 for teachers) | 5.50% | 5.50% | N/A | 5.50% | 5.50% | N/A |
Fixed Rate Cash ISA Issue 1 - Members Only
| New Rate | |||
| Interest Paid Annually | Gross | AER | NET |
| £9,000 | 6.10% | 6.10% | N/A |
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £1 | 5.35% | 5.35% | 4.28% | 5.35% | 5.35% | 4.28% |
| New Rate | |||
| Interest Paid Annually | Gross | AER | NET |
| £10 (min monthly payment) | 6.35%* | 6.35%* | 5.08 |
*Includes the introductory bonus of 1.0% for the first 12 months from opening
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.40% | 5.40% | 4.32% | 5.25% | 5.25% | 4.20% |
| £20,000 - £39,999 | 5.25% | 5.25% | 4.20% | 5.10% | 5.10% | 4.08% |
| £5,000 - £19,999 | 5.15% | 5.15% | 4.12% | 5.00% | 5.00% | 4.00% |
| £1,000 - £4,999 | 4.60% | 4.60% | 3.68% | 4.45% | 4.45% | 3.56% |
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.30% | 5.30% | 4.24% | 5.15% | 5.15% | 4.12% |
| £20,000 - £39,999 | 5.15% | 5.15% | 4.12% | 5.00% | 5.00% | 4.00% |
| £5,000 - £19,999 | 4.85% | 4.85% | 3.88% | 4.70% | 4.70% | 3.76% |
| Interest Paid Monthly | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.18% | 5.30% | 4.14% | 5.03% | 5.15% | 4.02% |
| £20,000 - £39,999 | 5.03% | 5.15% | 4.02% | 4.89% | 5.00% | 3.91% |
| £10,000 - £19,999 | 4.75% | 4.85% | 3.80% | 4.60% | 4.70% | 3.68% |
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.20% | 5.20% | 4.16% | 5.05% | 5.05% | 4.04% |
| £20,000 - £39,999 | 5.05% | 5.05% | 4.04% | 4.90% | 4.90% | 3.92% |
| £5,000 - £19,999 | 4.75% | 4.75% | 3.80% | 4.60% | 4.60% | 3.68% |
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.05% | 5.05% | 4.04% | 4.90% | 4.90% | 3.92% |
| £20,000 - £39,999 | 4.85% | 4.85% | 3.88% | 4.70% | 4.70% | 3.76% |
| £5,000 - £19,999 | 4.35% | 4.35% | 3.48% | 4.20% | 4.20% | 3.36% |
| £500 - £4,999 | 3.75% | 3.75% | 3.00% | 3.60% | 3.60% | 2.88% |
Teachers Direct
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £40,000 & above | 5.05% | 5.05% | 4.04% | 4.90% | 4.90% | 3.92% |
| £20,000 - £39,999 | 4.85% | 4.85% | 3.88% | 4.70% | 4.70% | 3.76% |
| £5,000 - £19,999 | 4.35% | 4.35% | 3.48% | 4.20% | 4.20% | 3.36% |
| £500 - £4,999 | 3.75% | 3.75% | 3.00% | 3.60% | 3.60% | 2.88% |
Fixed Rate Bond Issue 38 - Matures 12 February 2011
| Gross | AER | NET | |
| Annual Interest £500 and above | 5.80% | 5.80% | 4.64% |
| Monthly Interest £10,000 and above | 5.65% | 5.80% | 4.52% |
Fixed Rate Bond Issue 49 - Matures 1 October 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.15% | 6.15% | 4.92% |
| Monthly Interest £10,000 and above | 5.98% | 6.15% | 4.78% |
Mini Cash ISA Issue 1
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £1,000 (£250 for teachers) | 5.50% | 5.50% | N/A | 5.50% | 5.50% | N/A |
Mini Cash ISA 30 Issue 1
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| £1,000 (£250 for teachers) | 5.55% | 5.55% | N/A | 5.55% | 5.55% | N/A |
Cash ISA 30 Issue 2
| New Rate | |||
| Interest Paid Annually | Gross | AER | NET |
| £250 | 6.25%* | 5.90%* | N/A |
*Includes the introductory bonus of 0.7% for the first 6 months from opening
Minster Money Master
(for monthly savers only)
| Previous Rate | New Rate | |||||
| Interest Paid Annually | Gross | AER | NET | Gross | AER | NET |
| From £30 - £600 monthly. | 4.40% | 4.40% | 3.52% | 4.25% | 4.25% | 3.40% |
Call Save
| Previous Rate | New Rate | |||||
| Interest Paid Monthly | Gross | AER | NET | Gross | AER | NET |
| £100 | 5.22% | 5.35% | 4.18% | 5.22% | 5.35% | 4.18% |
Bullion
| Previous Rate | New Rate | |||||
| Interest Paid Half Yearly | Gross | AER | NET | Gross | AER | NET |
| £500 | 3.75% | 3.79% | 3.00% | 3.60% | 3.63% | 2.88% |
LA Deposit
| Previous Rate | New Rate | |||||
| Interest Paid Half Yearly | Gross | AER | NET | Gross | AER | NET |
| £1 | 0.50% | 0.50% | 0.40% | 0.50% | 0.50% | 0.40% |
Extra Ordinary
(Fixed Rate Account)
| Interest Paid Half Yearly | GROSS | AER | NET |
| £1 | 0.50% | 0.50% | 0.40% |
Fixed Rate Bond Issue 30 - Matures 30 October 2009
| Gross | AER | NET | |
| Annual Interest £1,000 and above | 5.30% | 5.30% | 4.24% |
| Monthly Interest £10,000 and above | 5.18% | 5.30% | 4.14% |
Rate applicable for term of bond
Fixed Rate Bond Issue 32 - Matures 31 May 2009
| Gross | AER | NET | |
| Annual Interest £1,000 and above | 5.85% | 5.85% | 4.68% |
| Monthly Interest £10,000 and above | 5.70% | 5.85% | 4.56% |
Fixed Rate Bond Issue 33 - Matures 31 May 2010
| Gross | AER | NET | |
| Annual Interest £1,000 and above | 5.80% | 5.80% | 4.64% |
| Monthly Interest £10,000 and above | 5.65% | 5.80% | 4.52% |
Fixed Rate Bond Issue 34 - Matures 1 October 2008
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.40% | 6.40% | 5.12% |
| Monthly Interest £10,000 and above | 6.22% | 6.40% | 4.98% |
Fixed Rate Bond Issue 35 - Matures 31 October 2008
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.40% | 6.40% | 5.12% |
| Monthly Interest £10,000 and above | 6.22% | 6.40% | 4.98% |
Fixed Rate Bond Issue 36 - Matures 30 November 2008
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.20% | 6.20% | 4.96% |
| Monthly Interest £10,000 and above | 6.03% | 6.20% | 4.82% |
Fixed Rate Bond Issue 37 - Matures 12 February 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.00% | 6.00% | 4.80% |
| Monthly Interest £10,000 and above | 5.84% | 6.00% | 4.67% |
Fixed Rate Bond Issue 39 - Matures 31 March 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.20% | 6.20% | 4.96% |
| Monthly Interest £10,000 and above | 6.03% | 6.20% | 4.82% |
Fixed Rate Bond Issue 40 - Matures 30 April 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.00% | 6.00% | 4.80% |
| Monthly Interest £10,000 and above | 5.84% | 6.00% | 4.67% |
Fixed Rate Bond Issue 41 - Matures 30 April 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.20% | 6.20% | 4.96% |
| Monthly Interest £10,000 and above | 6.03% | 6.20% | 4.82% |
Fixed Rate Bond Issue 42 - Matures 12 February 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.50% | 6.58% | 5.20% |
Fixed Rate Bond Issue 43 - Matures 31 May 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.20% | 6.20% | 4.96% |
| Monthly Interest £10,000 and above | 6.03% | 6.20% | 4.82% |
Fixed Rate Bond Issue 44 - Matures 30 June 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.50% | 6.50% | 5.20% |
| Monthly Interest £10,000 and above | 6.31% | 6.50% | 5.05% |
Fixed Rate Bond Issue 45 - Matures 23 July 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.50% | 6.50% | 5.20% |
| Monthly Interest £10,000 and above | 6.31% | 6.50% | 5.05% |
Fixed Rate Bond Issue 46 - Matures 13 August 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.75% | 6.75% | 5.40% |
| Monthly Interest £10,000 and above | 6.55% | 6.70% | 5.24% |
Fixed Rate Bond Issue 47 - Matures 9 September 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.50% | 6.50% | 5.20% |
| Monthly Interest £10,000 and above | 6.31% | 6.50% | 5.05% |
Fixed Rate Bond Issue 48 - Matures 16 September 2009
| Gross | AER | NET | |
| Annual Interest £500 and above | 6.00% | 6.00% | 4.80% |
| Monthly Interest £10,000 and above | 5.84% | 6.00% | 4.67% |
Charges:
The Society reserves the right to make a charge of £30 for any cheques or direct debits which are returned unnpaid.
Charges for account services may change in the future.
The Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (the "specified rate"). The Net rate is the rate which would be payable after allowing for the deduction of income tax at the specified rate from the gross rate. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
