• *Gross means the variable contractual rate of interest that will be paid to customers before the deduction of tax on interest. This information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change in the future. The law relating to taxation is liable to change and such changes cannot be foreseen. Interest will be paid gross only where we are satisfied that the depositor is eligible to receive interest without tax taken off.
• **AER stands for Annual Equivalent Rate and is the notional compound interest rate received per annum, where interest paid more frequently than annually is added to the account. Interest will only be paid without deduction of Tax if you can provide us with a fully and correctly completed Declaration and Undertaking for interest with no Tax Deducted as included on the Application Form. You will be advised of the rate of interest that applies to your account when your account is opened. As every advert for a savings product which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect over time. Unless otherwise specified all rates quoted are Gross.
• †Net Rates are purely illustrative and show rate of interest which will be paid to customers after the deduction of tax on interest, currently 20%.

Higher rate tax payers will have an additional liability. This tax rate may change.