Demo rate card3.90% AER / gross p.a. (variable)
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | Later-life cash savings |
| Rate, reward or charge | 3.90% AER / gross p.a. (variable) |
| Opening / maximum balance | £500.00 to £100,000.00 |
| Access | Unlimited withdrawals; annual interest remains in the pot unless removed |
| Eligibility in the scenario | A fictional customer aged 55 or over |
| Fees | No model account fee |
| Currency | GBP (£), used solely for fictional calculations |
What could your balance look like after 12 months?
| Opening deposit | Demo AER | Interest earned | Closing balance |
|---|---|---|---|
| £1,000.00 | 3.90% | £39.00 | £1,039.00 |
| £5,000.00 | 3.90% | £195.00 | £5,195.00 |
| £10,000.00 | 3.90% | £390.00 | £10,390.00 |
| £25,000.00 | 3.90% | £975.00 | £25,975.00 |
| £50,000.00 | 3.90% | £1,950.00 | £51,950.00 |
| £100,000.00 | 3.90% | £3,900.00 | £103,900.00 |
Assumptions: one opening deposit, no additions or withdrawals, no fees or tax, and the stated rate for the whole period. Interest is credited once at each anniversary and rounded to the nearest penny, with half-pennies rounded up. AER and gross p.a. match in this annual-credit model.
If £5,000.00 stayed for longer
| Anniversary | Interest that year | Balance | Total interest |
|---|---|---|---|
| 1 | £195.00 | £5,195.00 | £195.00 |
| 2 | £202.61 | £5,397.61 | £397.61 |
| 3 | £210.51 | £5,608.12 | £608.12 |
| 4 | £218.72 | £5,826.84 | £826.84 |
| 5 | £227.25 | £6,054.09 | £1,054.09 |
The variable rate is held constant solely to show annual compounding. These are scenarios, not forecasts; a future rate change would change every later row. Figures are before inflation.
Golden Tail Retirement is later-life cash savings in the Investments range, used for a cash reserve for a slower pace of life. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
Hazel puts the rate card to work
Hazel Twitch wanted a cash reserve for a slower pace of life. Her first question was how soon the funds would be needed, not how large a percentage would fit on a poster. The branch manager opened the Golden Tail Retirement rate card, circled the access rule and made a separate line for fees. Pip tried to classify the pencil as a deductible snack; the ledger remained unconvinced.
Hazel follows the example below exactly, rather than assuming the headline rate applies to every amount for every day. This character and quotation-free account are invented, not a real customer review.
See the whole Investments range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Investments — Longer Afternoons, Later Acorns
- Golden Tail Retirement — Fictional Product Terms
AcornBank: entirely fictional banking, exceptionally committed squirrels.