Can Tide change the interest rate?
Yes. As the interest rate is variable it can move up or
down.
The interest rate can change at any time for the
following reasons:
1. Tide can change the Tide Margin at any time
and this will impact the interest rate you
receive. Please refer to the Tide Instant
Saver Terms.
• If we decide to increase the Tide Margin
and your interest rate will decrease as a
result, we will give you at least 14 days’
notice in writing before the change
takes effect.
• We don’t have to give you prior notice if
your interest rate increases because we
decrease the Tide Margin. However, we
will notify you about the change within
30 days of it taking effect.
2. In addition, each time the Bank of England
Base Rate changes, the interest rate
applicable to your Tide Instant Saver
Account will also automatically change, in
line with the increase or decrease in the
Bank of England Base Rate. Please note that
this might happen in addition to changes
due to changes in the Tide Margin.
• The change will take effect from the day
the Bank of England announces the
change.
• We do not have to give you prior notice
of the change, but we will notify you
about the change within 30 days of it
taking effect.
• The Bank of England Base Rate may be
negative, which may result in a negative
interest rate applying to your Tide
Instant Saver Account.
We’ve included illustrative examples below:
• Example 1: Where your current interest
rate is 4.33% AER / 4.25% gross and Tide
decides to increase the Tide Margin
from 1.00% by 0.50% (gross), the Tide
Margin will be 1.50% (gross) and your
interest rate will decrease to 3.82% AER
/ 3.75% gross. We will give you 14 days
prior notice before this change comes
into effect.
• Example 2: Where your current interest
rate is 4.33% AER / 4.25% gross and the
Bank of England Base Rate decreases by
0.25% (gross) but your Tide Margin
remains 1.00%, your interest rate will
automatically decrease to 4.07% AER / 4.00% gross. We will not give you prior
notice of this change taking effect but
we will notify you about the change
within 30 days.
• Example 3: Where your current interest
rate is 4.33% AER / 4.25% gross and Tide
decides to decrease the Tide Margin
from 1.00% by 0.50% (gross), the Tide
Margin will be 0.50% (gross) and your
interest rate will increase to 4.85% AER
/ 4.75% gross. We will not give you prior
notice of this change taking effect but
we will notify you about the change
within 30 days.