Fixed rate bonds

AER - stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

Gross rate - is the rate of interest before the deduction of basic rate of income tax applicable to savings accounts.

Net rate - is the rate after the deduction of income tax, currently at the rate of 20%. Subject to the required certification non-taxpayers are able to receive their interest gross.

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