How does interest work for Savings Pots?
How interest works
For Instant Access Savings and Instant Access Cash ISAs, your money starts earning interest on the day you deposit it into your Pot. You’ll then earn interest daily and we’ll pay it into your Pot on the first day of each month.
If you close your Instant Access Savings, we’ll pay any interest you’ve earned so far that month into your account immediately.
For Easy Access Savings and Easy Access Cash ISAs, your money starts earning interest from the working day after you deposit it. You’ll then earn interest daily and we’ll pay it into your Pot on the first day of each month.
If you close your Easy Access Savings, we’ll pay any interest you’ve earned so far that month into your account on the first of the next month.
For Fixed Term Savings, your money starts earning interest from the working day after you deposit it.
We’ll move your initial deposit and the interest you’ve earned into your account when the fixed term ends.
How to check your interest
If you’d like to see how much interest you’ve earned, scroll down to the Savings & Investments section, tap on Savings, select your Pot and check the section called Interest.
Was this article helpful?
Related articles
- What are Instant Access Savings Pots?
- How do I open an Instant Access Savings Pot?
- Withdrawing money from Savings Pots
- When is interest paid on Savings Pots?
- How do I get an interest statement?
- Where can I find the agreement for my Savings Pot?
- Are Savings Pots protected?
- What’s the difference between a Regular Pot, a Savings Pot, and an Investment Pot?
- Instant Access Savings Pots Limits
- Getting a statement for your Savings Pot
- Deposit Interest Retention Tax
