You are in section Home Rates and charges Rates Current Page

Rates

Rates make for a useful point of comparison when looking at financial products - though they're not the only thing you should consider when making a decision. Have a look through the tabs below for more detailed information about each products' rates..

Show the section 1st Account rates

1st Account rates

The rates are correct as at 14 March 2020.

1st Account does not pay interest on credit balances.

Arranged overdraft interest	% APR variable	% EAR* variable
Arranged overdraft interestDebit balances up to £250	% APR variable0%	% EAR* variable0%
Arranged overdraft interestDebit balance over £250	% APR variable30.5%	% EAR* variable39.9%

How does our overdraft compare?
You can compare our overdrafts with other ways of borrowing by looking at the Annual Percentage Rate (APR). APR is the cost of borrowing over a year and lets you compare the costs with other credit products.

Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200).

We'll calculate arranged overdraft interest daily on the cleared end of day debit balance on your account, and deduct it from your account monthly.

Before we deduct any arranged overdraft interest, we'll give you at least 14 days' notice of the amount.

*EAR is the Effective Annual Rate which takes account of the interest rate and how often interest is charged, but doesn't include any other fees or charges.

Show the section Credit Card rates

Credit cards rates

For Credit Cards and Gold cards opened from 24th April 2023 the following rates will apply. For cards opened before this date the rates may differ as shown in the documents you received.

Gold Card - representative 24.9% APR variable

	Annual rate - simple*
Purchases	Annual rate - simple*22.476%
Cash advances	Annual rate - simple*26.484%

Credit Card - representative 24.9% APR variable

	Annual rate - simple*
Purchases	Annual rate - simple*22.476%
Cash advances	Annual rate - simple*26.484%

If you used your Classic credit card account between 23 December 2009 and the 16 September 2014 the following rates would have applied:

Classic Card - typical 24.9% APR variable

	Annual rate - simple*
Purchases	Annual rate - simple*18.360%
Cash advances	Annual rate - simple*21.360%

*The simple rate is the rate used for interest calculation purposes. It is equivalent to the monthly rate multiplied by 12.

The rates advised above are for guidance only, and depend on the products that were on sale during the dates displayed.

The rate you receive may be different from those displayed above. If you're at all in doubt, please contact us to confirm your current rate.

Show the section Loan rates

Loan rates

Personal Loans - representative rates

The rates are correct as at 28 March 2024.

Loan amount	Minimum % APR	Maximum % APR
Loan amount£1,000 - £2,499	Minimum % APR14.50%	Maximum % APR18.90%
Loan amount£2,500 - £4,999	Minimum % APR9.90%	Maximum % APR18.90%
Loan amount£5,000 - £6,999	Minimum % APR7.40%	Maximum % APR13.90%
Loan amount£7,000 - £9,999	Minimum % APR6.60%	Maximum % APR13.90%
Loan amount£10,000 - £15,000	Minimum % APR6.40%	Maximum % APR13.90%
Loan amount£15,001 - £30,000	Minimum % APR6.40%	Maximum % APR13.90%
Loan amount£30,001 - £50,000	Minimum % APR7.90%	Maximum % APR7.90%

The rate we may offer could be higher than the advertised annual percentage rate (APR). An approved rate will be based on our assessment of your personal financial circumstances, including a credit check should you choose to apply. The loan amount you request will also impact the rate offered.

Flexiloan

This product is no longer on sale, but here are the rates for information:

Loan amount	% p.a.	representative % APR
Loan amountLoans up to £10,000	% p.a.17.45%	representative % APR18.9% variable

Personal Loan rates may alter from time to time, but once a loan is taken the rate becomes fixed for the duration of the term.

Show the section Savings rates

We’ve decreased the interest rate on selected savings accounts. We continually review our savings product range and take a number of factors into consideration, including market conditions and the Bank of England Base Rate. Full details of our new rates can be found below.

Savings rates

Regular Saver

	AER⁽¹⁾	Gross⁽²⁾% p.a.
£25 - £300* per month fixed for 12 months	AER(1)7.00%	Gross(2)% p.a.7.00%

* If you don't save the maximum monthly subscription of £300 in any given month, you can carry over any unused subscription over into following months. Regular Savers can save up to a maximum of £3600 a year into this account.

Interest is calculated daily and paid on the first anniversary of account opening.

Interest rates quoted are fixed for the full 12-month term.

You must continue to hold a 1st Account with us for as long as you have your Regular Saver Account.

Only one account per customer.

Cash ISA

Rates are variable.

Effective from 2 October 2024

Balance	AER	Tax free
BalanceAll balances	AER2.70%	Tax free2.67%

Bonus Savings Account

Interest will be calculated daily and paid monthly. Sole accounts only and one account per customer.

With monthly bonus

Up to 26 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
BalanceUnder £50,000	AER(1)4.00%	Gross(2)% p.a.3.93%
Balance£50,000+	AER(1)2.30%	Gross(2)% p.a.2.28%

Effective from 27 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
BalanceUnder £50,000	AER(1)4.00%	Gross(2)% p.a.3.93%
Balance£50,000+	AER(1)1.75%	Gross(2)% p.a.1.74%

Without monthly bonus

Up to 26 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
BalanceUnder £50,000	AER(1)1.75%	Gross(2)% p.a.1.74%
Balance£50,000+	AER(1)1.75%	Gross(2)% p.a.1.74%

Effective from 27 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
BalanceUnder £50,000	AER(1)1.50%	Gross(2)% p.a.1.49%
Balance£50,000+	AER(1)1.50%	Gross(2)% p.a.1.49%

If no withdrawals are made from the account during a calendar month we'll pay the rate 'with monthly bonus'. If during a calendar month a withdrawal is made we'll pay the rate 'without monthly bonus'.

Fixed Rate Savings - November Issue

Current rate available from 8 November 2024 to 9 December 2024. Rate can be withdrawn at any time. Deposit matures 9 December 2025.

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
Balance£2,000+	AER(1)4.05%	Gross(2)% p.a.4.05%

Interest is paid at maturity. Multiple products can be opened, however please note that the interest rates quoted are per bond. This is a bond, which means you deposit a fixed amount of money for a fixed period at a fixed rate of interest.

Savings Account

Rates are variable.

Up to 26 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
Balance£1+	AER(1)1.75%	Gross(2)% p.a.1.74%

Effective from 27 January 2025

Balance	AER⁽¹⁾	Gross⁽²⁾% p.a.
Balance£1+	AER(1)1.50%	Gross(2)% p.a.1.49%

Offset Savings

Equivalent Credit Interest	AER
Equivalent Credit InterestAll credit balance	AER7.22%

Instead of receiving interest on your savings, your qualifying savings and current account balances are offset against your outstanding mortgage balance, so you only pay mortgage interest on the difference between the two.

Although you don't earn credit interest on your savings or current account, you effectively achieve the same overall benefit as an account paying 7.22% AER. You could receive a higher or lower equivalent rate depending on your current mortgage. This example is based on our standard variable rate.

'Linked accounts could include 1st Account and Savings Account.

Linked Offset 1st Accounts and savings accounts.

Any debit balance on 1st Accounts or additional borrowing linked to your offset Mortgage will be secured against your property and charged the same rate of interest as your mortgage.

Other fees may apply:

If you're buying a property

In addition to any arrangement fee, you'll also need to pay for your legal and valuation costs.

If you're re-mortgaging a property in England or Wales

In addition to the arrangement fee and/or booking fee you'll need to pay for a professional valuation. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees.

If you're re-mortgaging a property in Scotland or Northern Ireland

In addition to the arrangement fee and/or any booking fee you will need to pay for a professional valuation for both offset and Repayment Mortgages. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

(1) AER stands for Annual Equivalent Rate. This shows you what the rate would be if interest were paid and compounded each year.

(2) All credit interest will be paid without tax being taken off (paid gross).

All credit interest is calculated daily and paid monthly unless stated otherwise.

Show the section Stocks and Shares ISA rates

Stocks and Shares ISA rates

You can find our current interest rates and charges for our products in our Interest rates and charges PDF document.

Rates

1st Account rates

Useful documents