(1) Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (the ‘specified rate’).
(2) AER is the Annual Equivalent Rate and shows what the interest rate would be if interest were paid and compounded for one year.
(3) Interest rates are variable, however savers will be given advanced notice of any rate reductions.
Interest rates are fixed on the day of deposit for the entire term of the deposit. Interest is typically credited on maturity (other frequencies available upon request at the time of fixing).
Standard rates are shown. Rates may vary. Product terms and conditions apply.

What would my estimated balance be after 12 months based on a £1,000,000 deposit?

A deposit of £1,000,000 at an annual gross rate of 4.00% would generate an estimated balance of £1,040,000 in one year. Please note this example is for illustrative purposes only.