Provided below are the average annual gross (i.e. pre-tax) rates of interest currently available in the United Kingdom on a variety of account types:
TYPE OF ACCOUNT | AVERAGE ANNUAL GROSS INTEREST RATE |
Instant access: | |
Taxable account | 0.4% |
Cash ISA | 0.7% |
Fixed term deposit: | |
1 year | 1.3% |
2 years | 2.1% |
These are the average rates currently available on new deposits. Consequently, with a bit of research, you should be able to find accounts paying rates of interest above those shown.