4.41% Gross / 4.50% 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.

The interest rate includes an additional 1.66% Gross / 1.72% AER* variable boost which will be paid by Prosper to your nominated bank account, up to a month following the end of the boost term or on the closing of the product account. After 12 months, the boost will not apply. The interest rate will then track the Bank of England base rate ("base rate") minus a margin of 1% gross.

If the base rate doesn't change in the next 12 months, the interest rate on your account would reduce to 2.75% Gross / 2.78% AER* variable

Yes, the interest rate and boost 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 the boosted rate:

A deposit of £1,000.00 would earn £45.00 after 12 months, for a final balance of £1,045.00

A deposit of £5,000.00 would earn £225.00 after 12 months, for a final balance of £5,225.00

At the non-boosted rate:

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 £10,000.00. 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/

Prosper Boost Terms and Conditions:

If you are a new customer, or an existing customer who meets the eligibility criteria set out in the applicable campaign’s Terms and Conditions, Prosper may apply a boost rate in addition to the quoted interest rate from the cash savings product provider.

To qualify you must:

- be a customer who has never opened a boosted Prosper account before; or

- a customer who meets the eligibility criteria set out in the applicable campaign’s Terms and Conditions (such campaigns are offered at Prosper’s discretion); and

- fund the cash savings product within the boosted period.

The boost rate is calculated in accordance with the Product Summary (see “what is the interest rate?”) and the amount will be paid directly to your nominated bank account.

The boost payment is not treated as interest by HMRC and is instead treated like a cashback reward to open an account with Prosper. These payments are currently not taxable in the hands of the recipients because they are regarded as discounts and have been widely accepted not to be taxable income.

Prosper reserves the right to alter, withdraw, replace or amend the boost rate at any time.

The boost payment is non-transferable, non-exchangeable, and no cash alternative is available.