Interest rates

Latest and historic rates for Wesleyan Bank accounts

Got a savings account with Wesleyan Bank? The interest rate you’re getting will depend on when you opened your account.

Simply select your account type to see our most recent and historic rates:

Cash ISA
Cash Junior ISA
Classic Account
Cheque Account
Privilege Account
Wesleyan SIPP Trustee Bank Account interest rate

Cash ISA

Latest interest rates (from 17th July 2020)
Account balance
AER*
Gross**
£9,000+
0.55%
0.55%
£3,000 - £8,999
0.40%
0.40%
£100 - £2,999
0.10%
0.10%
Under £100
0.10%
0.10%

Historic interest rates (from 15th December 2017 to 16th July 2020)
Account balance
AER*
Gross**
£9,000+
0.65%
0.65%
£3,000 - £8,999
0.50%
0.50%
£100 - £2,999
0.10%
0.10%
Under £100
0.10%
0.10%

Interest on the Wesleyan Bank Cash ISA is exempt from income tax. The interest on the Cash ISA is at a rate of no lower than 1.5% below the Bank of England Base Rate and may vary in line with changes to the base rate. Interest is calculated on the daily cleared balance of the account and added to the account annually on 5th April.

This information is based on our understanding of current taxation which may change in the future. You may have tax to pay if the interest you receive exceeds any personal tax allowances to which you may be entitled.

Cash Junior ISA

Latest interest rates (from 30th March 2017)
Account balance
AER*
Gross**
£10+
2.25%
2.25%
Historic interest rates (from 1st November 2011 to 29th March 2017)
Account balance
AER*
Gross**
£10+
2.75%
2.75%

Interest is calculated on the daily cleared balance of the account and added to the account annually on 5th April. The interest on the Cash Junior ISA is variable and can change during the term of the account and may vary in line with changes to the base rate.

Interest on the Wesleyan Bank Junior ISA is exempt from income tax.

This information is based on our understanding of current taxation which may change in the future. You may have tax to pay if the interest you receive exceeds any personal tax allowances to which you may be entitled.

Classic Account

Latest interest rates (from 17th July 2020)
Account balance
AER*
Gross**
£5,000+
0.10%
0.10%
£1,000 - £4,999
0.05%
0.05%
£100 - £999
0.05%
0.05%
Under £100
0.05%
0.05%

Historic interest rates (24th March 2009 to 16th July 2020)
Account balance
AER*
Gross**
£5,000+
0.50%
0.50%
£1,000 - £4,999
0.10%
0.10%
£100 - £999
0.10%
0.10%
Under £100
0.10%
0.10%

Interest is calculated on the daily cleared balance of the account and is added to the account twice a year on 30th June and 31st December.

Cheque Account interest rate

Latest interest rates (from 24th March 2009)
Account balance
AER*
Gross**
£10,000+
0.10%
0.10%
£5,000 - £10,000
0.10%
0.10%
£1,000 - £5,000
0.10%
0.10%
Under £1,000
0.10%
0.10%

Interest is calculated on the daily cleared balance or the account and is added to the account quarterly on the last day or March, June, September & December.

Please note this product is no longer available.

 

Privilege Account

Latest interest rates (from 17th July 2020)
Account balance
AER*
Gross**
£10,000+
0.10%
0.10%
£5,000 - £9,999
0.10%
0.10%
£1,000 - £4,999
0.05%
0.05%
Under £1,000
0.05%
0.05%

Historic interest rates (15th December 2017 to 16th July 2020)
Account balance
AER*
Gross**
£10,000+
0.50%
0.50%
£5,000 - £9,999
0.50%
0.50%
£1,000 - £4,999
0.10%
0.10%
Under £1,000
0.10%
0.10%

Interest is calculated on the daily cleared balance of the account and is added to the account twice a year on 30th June and 31st December.

Please note this product is no longer available.

Wesleyan SIPP Trustee Bank Account

Latest interest rates (from 10th August 2020)
Account balance
AER*
Gross**
£5,000+
0.10%
0.10%
£1 - £4,999
0.10%
0.10%
Historic interest rates (from 3rd March 2009 to 9th August 2020)
Account balance
AER*
Gross**
£5,000+
0.50%
0.50%
£1 - £4,999
0.10%
0.10%

Interest on the Wesleyan SIPP Trustee Bank Account is paid without the deduction of tax and is calculated on the daily cleared balance of the account. Interest rates are tiered and apply to the portion of the balance according to the rate applicable to the band into which it falls. Interest is added to the account twice a year on 30th June and 31st December.

Important information

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. Every advert for a savings product that quotes an interest rate will contain an AER. This helps you to compare what return you can expect from your savings over time.

** Since 6th April 2016, all interest is paid gross and with no tax deducted.