Do I get 2.75% AER automatically with my Biscuit current account?

You’ll automatically earn 1% AER* (1% gross**) variable on your Biscuit balance. 

To earn 2.75% AER* (2.72% gross**) variable, you’ll need to select extra balance interest as your chosen benefit in the app. You can only choose one benefit at a time, so while it’s selected, you won’t earn cashback on bills or eating out. 

If you switch to a different benefit later, any interest you’ve already earned will still be paid to you. Once you’ve changed your benefit, there’s a 24-hour lock period when you won’t be able to change it again. Your new benefit will take effect the following month. 

*AER stands for ‘annual equivalent rate’. We pay you interest on a monthly basis, but AER shows you the rate you’d get if this monthly interest was compounded and paid once a year instead. We provide an AER to make it easier for you to compare our rates with other providers. 

**We pay gross interest, which means nothing is deducted for tax. 

**We pay gross interest, which means nothing is deducted for tax.