Make More of Your Savings with 3.35% AER
Put your money to work with the Bondsterling Bank Deposit Sweep. With a rate of 3.35% AER, your savings could earn more than they would in a typical savings account offering an average rate of 1.91%.
The Bondsterling Bank Deposit Sweep offered an Annual Equivalent Rate (AER) of 3.35% as of 11 August 2025. This rate is variable and may change at any time. The average savings account rate of 1.91% is based on Bank of England data from June 2025.
What is the Bondsterling Bank Deposit Sweep?
Access competitive interest rates that could deliver higher returns than traditional savings accounts.
Greater protection for your deposits
Benefit from FSCS protection of up to £360,000 by distributing eligible savings across three separately authorised banking groups, subject to applicable limits.
Flexible access to your funds
Enjoy the convenience of next-business-day withdrawals, helping you access your savings when you need them.
The Bondsterling Bank Deposit Sweep is a savings service that allows customers to earn competitive interest on their cash balances while benefiting from increased FSCS protection. By spreading deposits across multiple eligible banking partners, it helps you make the most of your savings while keeping your funds protected within applicable limits.
With the Bondsterling Bank Deposit Sweep, your funds are automatically distributed among participating banks, allowing eligible deposits to benefit from FSCS protection of up to £360,000 in total, with coverage limited to £120,000 per separately authorised banking group.
We manage your deposited funds and regularly review their allocation across available savings accounts, making adjustments as frequently as daily to help optimise your returns and deposit protection.
Deposits are processed and distributed to participating banks once each business day. The daily cut-off time is approximately 11:45 am, meaning your funds may be allocated on the same day or the following business day, depending on when your deposit is received.
Interest is calculated daily and credited to your account on the first business day of each month. Once credited, your earnings are automatically reinvested into the Bank Deposit Sweep, allowing your savings to benefit from compound interest unless you choose to withdraw funds. A detailed breakdown of your monthly interest will be included in your account statement.
The participating banks currently listed for the Bondsterling Bank Deposit Sweep are ClearBank Limited and Asprofin Bank.
FAQs
If you have any additional questions our team is ready to assist you.
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