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School Banking Account Rates
This tailored account is designed to help you manage funds efficiently and earn more from your savings. To help you decide whether it’s right for your school, view the current interest rates in the tables below.
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Current rates
Current rates:
*AER%
**Gross%
£1+
*AER%
0.01
**Gross%
0.01
These interest rates are correct as of 06/06/2020.
Interest rates may vary from time to time.Previous rates
Previous rates
*AER%
**Gross%
£1+
*AER%
0.05
**Gross%
0.05
These interest rates are correct as of 24/10/2016.
Interest rates may vary from time to time. -
Our schools accounts will help you make the most of your resources – from simplifying daily tasks with Internet Banking to flexible or fixed-term deposits. It’s part of our wider commitment to supporting Britain’s education sector.
Working with your education management team, you can tailor the account to your school’s specific needs.
*AER – The AER stands for Annual Equivalent Rate and is the notional rate which illustrates the gross or tax free rate as if paid and compounded on an annual basis. As every advert for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
**Gross rate - means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.