Credit interest
We pay credit interest at a special rate on all credit balances in your ufirstgold and ufirst PRIVATE Current Accounts. The interest rates are set at different levels. The table below shows the rates available.
This benefit is automatic for every ufirstgold and ufirst PRIVATE member, so there is no need to apply.
It doesn't matter if you have £1 or £10,000 in your account, every £1 will earn credit interest and we will pay it into your account each month.
| Rate bands £ | ufirstgold Current rates | |
|---|---|---|
| Gross % (Variable) see note 1 | AER % (Variable) see note 2 | |
| 1 to 24,999 | 0.01% | 0.01% |
| 25,000 to 49,999 | 0.05% | 0.05% |
| 50,000 and over | 0.10% | 0.10% |
| Rate bands £ | ufirst PRIVATE Current rates | |
|---|---|---|
| Gross % (Variable) see note 1 | AER % (Variable) see note 2 | |
| 1 to 4,999 | 0.05% | 0.05% |
| 5,000 to 29,999 | 0.10% | 0.10% |
| 25,000 to 49,999 | 0.50% | 0.50% |
| 50,000 and over | 1.00% | 1.00% |
The rates for ufirst PRIVATE Current Account are better than our standard Current Account and Current Plus Account when there is more than £25,000 in the account.
1 Gross is the interest rate paid before the deduction of tax.
2 AER - This rate is used for accounts where you earn interest. It shows what the gross credit interest rate (not including any bonus interest) would be if we paid it to the account every year and you then received interest on that interest as part of the account balance. It helps you to compare the effective rates of credit interest which apply to different accounts.
If you close or downgrade your ufirst Current Account you will no longer be entitled to this benefit.
