Demo rate card3.75% 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 | Easy-access savings |
| Rate, reward or charge | 3.75% AER / gross p.a. (variable) |
| Opening / maximum balance | £1.00 to £100,000.00 |
| Access | Unlimited withdrawals in the demo; no notice period |
| Eligibility in the scenario | One adult aged 18 or over in the fictional AcornBank forest |
| 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 | 3.75% | £37.50 | £1,037.50 |
| £5,000.00 | 3.75% | £187.50 | £5,187.50 |
| £10,000.00 | 3.75% | £375.00 | £10,375.00 |
| £25,000.00 | 3.75% | £937.50 | £25,937.50 |
| £50,000.00 | 3.75% | £1,875.00 | £51,875.00 |
| £100,000.00 | 3.75% | £3,750.00 | £103,750.00 |
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 | £187.50 | £5,187.50 | £187.50 |
| 2 | £194.53 | £5,382.03 | £382.03 |
| 3 | £201.83 | £5,583.86 | £583.86 |
| 4 | £209.39 | £5,793.25 | £793.25 |
| 5 | £217.25 | £6,010.50 | £1,010.50 |
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.
Squirrel Saver is easy-access savings in the Savings range, used for a first home for spare savings. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
From opening figure to closing figure
A useful ledger separates money you contribute, interest, growth or rewards you earn, money you withdraw and any fees or borrowing charges. The examples below follow that order. A transfer between your own pots changes the location of money, not the total you own. The closing balance should always reconcile with those movements.
See the whole Savings 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
- Savings — Pots, Bonds and Notice Hollows
- Squirrel Saver — Which Squirrels Can Join?
- Squirrel Saver — Your First Imaginary Acorn
AcornBank: entirely fictional banking, exceptionally committed squirrels.