Tired Interest


Some savings accounts reward you for having a higher balance by offering tiered rates of interest. This is where a higher rate of interest is offered the more you have in the account.
For example, an account might offer 1.00% interest for balances between £1 and £10K, then 2.20% for balances of £10K or more. The higher interest rate is normally paid on your entire balance – so if you had £10,001 in the account we’ve just mentioned, you’d earn 2.20% on the whole lot, not just the £1 that’s above £10K.

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