The interest rate is applied on an annualised basis, and is made up of:
- a base rate calculated on a daily basis – the base rate is not guaranteed and may fluctuate in line with the market conditions;
- a loyalty bonus – you receive this after:
- 91 consecutive calendar days for the Treasury Flex Account 3M;
- 182 consecutive calendar days for the Treasury Flex Account 6M;
- 365 consecutive calendar days for the Treasury Flex Account 12M.
Once the loyalty bonus term ends, the assets are automatically reinvested for the same period again. Unlike the base rate, the loyalty bonus – which is applied when a payment is made or at the start of a new earning period – is guaranteed throughout the whole of the earning period. If any change is made to the loyalty bonus, the new rate will only be applied to payments that are made after the rate has changed, as well as any new earning periods that start after the change.
If a withdrawal is made part-way through, the loyalty bonus is put on hold for the amount where the earning period is furthest from completion.
The base rate and the rate for the loyalty bonus depend on the account balance. For more details, check the Flash Invest below.
- Interest is capitalised on 1 January, 1 April, 1 July and 1 October, and is paid into the Treasury Flex Account.
- As a savings account cannot be overdrawn, there is no interest on an overdrawn balance.