3.50 %Gross/AER*
3.50% Gross/AER
The interest is paid annually and will be credited to your account after close of business on 1 January.
Yes, the interest rate is variable.
We can increase or decrease the interest rate as described in our Savings General Terms and Conditions.
If we are decreasing the interest rate, we will notify you at least 14 days before the change takes effect.
£6,114.71
This example assumes that the account is opened on 2 January with an initial deposit of £500 and 11 monthly lodgements of £500 at the start of each month, which is the maximum monthly amount allowed. This example also assumes the the interest rate does not vary during the 12-month period.
Lodgements must reach your account by 25th of the month.
If you have a First Home Saver account, you may be eligible for a £500 Mortgage Cashback, if you take out a Progressive Building Society Mortgage to purchase your first home. The property must be in Northern Ireland. Please refer to the Online First Home Saver account terms and conditions for full details.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. This will enable you to compare more easily the return you can expect from your savings over time.
Gross rate quoted is the taxable rate of interest without deduction of income tax.
You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HM Revenue & Customs (HMRC) website hmrc.gov.uk
The interest rate is correct as of 1st September 2025.
This account can only be opened and managed online via our website by clicking the above Apply Now button. It only takes a few minutes to complete your application online. Please make sure you read the Summary Box, Account Terms and Conditions, Savings General Terms and Conditions and FSCS Information Sheet in full. You can save or print a copy of the PDFs for future reference. These documents contain details of your agreement with us for this account and we will rely on them for our relationship with you.
Our Online Accounts are only available to those aged 18 years or over. For any account queries, please see our FAQ’s.