2.75% Gross / 2.78% AER* variable

Interest accrues daily, based on the balance of your account and will be paid by Griffin monthly on the first of each month into your Cash ISA account and compounded.

If you close your account at any point in the month, interest accrued up until that point will be paid immediately and no further interest will be accrued.

Yes, the interest rate can change at any time.

The rate tracks the Bank of England base rate. If the base rate changes, the new interest rate on your account will apply within 24 hours.

If Prosper changes the rate to your disadvantage, you will be given 14 days’ notice before the change comes into effect.

At current interest rates:

A deposit of £1,000.00 would earn £27.80 after 12 months, for a final balance of £1,027.80

A deposit of £5,000.00 would earn £139.00 after 12 months, for a final balance of £5,139.00

These are illustrative examples and are not based on your individual circumstances, such as the exact number of days in any given period (which may vary).

Interest is calculated using the Gross Rate. The AER (Annual Equivalent Rate) reflects the cash amount that would be paid if deposited at the Gross Rate for a one year period, capturing any positive effects of compounding interest.

This account is available to UK residents over the age of 18, with a minimum balance of £1.00. There is no maximum limit on the amount that may be held in a Prosper Cash ISA, however you may only deposit the maximum ISA allowance each year. Currently the maximum annual ISA allowance is £20,000.

You can open, view and manage your account directly through Prosper.

Yes, withdrawal requests can be made through Prosper at any time after opening the account, and in any amount. The Prosper Cash ISA is flexible so you can withdraw money and put it back within the same tax year without using more of your ISA allowance.

Prosper Savings Limited ("Prosper") is the ISA Manager of your Prosper Cash ISA and Griffin provides the underlying bank account which holds the funds. Griffin Bank Ltd (“Griffin”) is registered in England and Wales (No.10842931). Griffin is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). Griffin’s firm reference number is 970920.

The information provided in this summary box is a summary of the key features of this product.

*AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.

*Interest will be paid gross. Gross interest does not take into account any tax payable.

Tax treatment depends on individual circumstances and may change in the future. Neither Prosper nor Griffin provides any tax advice.

You are protected by FSCS up to a maximum of £120k across all of your eligible Griffin accounts. Therefore, this maximum is the total protection for this deposit and any others you may hold with Griffin directly.

For all the information you need on FSCS please go to https://www.fscs.org.uk/

Placing funds via Prosper may impact how quickly FSCS can return your deposit to you if Griffin should fail. For all information you need on the FSCS repayment timelines please go to https://www.fscs.org.uk/what-we-cover/banks-building-societies/