When will I receive any interest from my Cash savings hub?

You may receive interest at different times depending on the type of savings account you’ve applied for:

• Fixed term deposits pay their interest or profit either annually or at maturity.
• Notice accounts usually pay interest or profit when you close the account.

When your savings account matures, your deposit – and any interest or profit you’ve earned – will be automatically paid into your transaction account if you don’t renew.

Our panel of banks will pay interest or profit gross of tax. You can check the savings accounts’ factsheets to find out more. The interest or profit you earn from savings accounts in your Cash savings hub counts towards your Personal Savings Allowance – read more about this on the Government website. If the interest you earn exceeds this allowance, you’re responsible for paying any tax you owe to HM Revenue and Customs.

For more information, please read the savings account factsheets which detail the terms of each savings account.