Key facts
What is the interest rate?
The interest rate is 1.85%
Gross / AER (Variable). Interest is calculated daily and paid monthly. If you withdraw
mid-month you will lose any interest that has not already been paid.
Can the interest rate change?
Metro Bank set the rate on the account held by Cushon and have the right to change the interest rate at their sole discretion.
The current rate of interest is always visible within your Cushon account.
What would the estimated balance be after 12 months based on a £1,000 deposit?
The estimated balance would be £1,019 based
on the interest rate of 1.85%.
There is no charge on cash pots with Cushon. For further understanding on charges for this investment please read the information on costs and charges
The minimum withdrawal amount is £1 and there are no limits on the number of
withdrawals.
FSCS Protection
The Financial Services Compensation scheme (FSCS) protects your savings up to £85,000 per financial institute.
If you already have funds deposited with Metro Bank, please be aware the maximum you are protected for is £85,000.
This limit applies based on the total deposits you have with Metro Bank and any other banks which share the same banking license.
Additional information
The tax treatment of your deposits will depend on your personal circumstances.
Interest will be paid gross without tax deducted. You are responsible for paying any
taxes due and for reporting any information related to the deposits in accordance
with legal and tax requirements.