Last updated: 15th September 2025
Capital on Tap Instant Savings Account powered by ClearBank
Interest is payable on this account. The Capital on Tap Instant Savings Account interest rate is based on the Bank of England base rate. The interest rate is variable and tracks at a margin of 0.57% (gross) below the Bank of England base rate ("Interest Rate").
Customers who are not or are no longer subject to a promotional interest rate (as outlined below) will be subject to the Interest Rate. The current Interest Rate is 3.48% AER / 3.43% gross p.a. (variable). The current Bank of England base rate is 4.00% (gross).
New Capital on Tap customers may be eligible for a promotional interest rate upon successful sign-up. Currently, Capital on Tap customers could be eligible for the promotions below.
Promotion 1 - New Capital on Tap Savings customers are eligible
A new Capital on Tap Savings customer is defined as a customer who already has a Capital on Tap Business Credit Card and who is now applying for an Instant Savings Account with Capital on Tap.
During the first [60] days of opening a Capital on Tap Instant Savings Account you may qualify for an introductory promotional interest rate which will be applied to your deposit as per the table below:
| Promotional interest rate during the first 60 days (the “promotional period”) | ||
| Balance | Interest Rate p.a. | % below base rate |
| Up to £50,000 | 3.48% AER / 3.43% gross | 0.57% gross |
| Between £50,000 and £500,000 | 4.07% AER / 4.00% gross | 0.00% gross |
| Above £500,000 | 3.48% AER / 3.43% gross | 0.57% gross |
Promotion 2 - New Capital on Tap customers are eligible
A new Capital on Tap customer is defined as a customer who does not hold / has never held a product with Capital on Tap and who is now making an application for an Instant Savings Account with Capital on Tap.
You may qualify for an introductory promotional interest rate which will be applied to your deposit as per the table below:
|
Promotional interest rate during the first 60 days (the “promotional period”) |
||
| Balance |
Interest Rate p.a. |
% below base rate |
|
Up to £3,000,000 |
4.07% AER / 4.00% gross |
0.00% gross |
|
Above £3,000,000 |
3.48% AER / 3.43% gross |
0.57% gross |
Where a promotional interest rate is applied, the interest is calculated using a tiered structure, only the portion of your balance within each tier earns the corresponding rate. Your promotional interest rate is subject to change during the promotional period in line with changes to the Bank of England base rate.
After the promotional period ends, the promotional interest rate will no longer apply. The interest rate applicable to your deposit will be the then current Interest Rate.
Capital on Tap reserves the right to vary the interest rate for the Instant Savings Account at any time depending on market conditions. For a full list of reasons for an interest rate change, see our Terms and Conditions.
Interest is accumulated daily based on the cleared funds in your account (as determined by ClearBank). This interest is then paid monthly on a gross basis.
ClearBank will pay the interest accumulated within the calendar month directly to your Savings Account within 3 working days of that month's end.
If you close your Savings Account mid-month, ClearBank will calculate the interest up until the day before you close your account, before paying it into your account.
Your Savings Account won’t be closed until the remaining balance is sent to your nominated bank account.
The rate will automatically track the Bank of England base rate, minus Capital on Tap’s margin. Capital on Tap also reserves the right to vary the margin in line with the Terms and Conditions.
No notice is required if we’re decreasing the size of the margin (passing more interest on to you). We will, however, provide 14 days’ notice if we’re increasing the size of our margin (passing less interest on to you). When moving in line with Bank of England base rate changes (either up or down), no notice is required.
Interest Rate (where no promotional interest rate is applicable)
|
Interest Rate AER (variable) |
Balance after 12 months |
|
3.48% |
£1,034.80 |
Promotion 1
|
Interest Rate AER (variable) |
Balance after 12 months |
|
3.48% |
£1,034.80 |
Promotion 2
|
Interest Rate AER (variable) |
Balance after 12 months |
|
4.07% |
£1,040.70 |
The interest rate is based on the current interest rate available on the account as it stood on 7 August 2025.
Please note that this calculation is for illustration purposes only. The interest rate on an Instant Savings account is variable and therefore the total could be more or less than shown here depending on whether rates rise or fall. This calculator assumes the interest rate does not change during the period of time selected and that no further deposits or withdrawals are made beyond an initial deposit of £1,000. The calculations shown include the total amount of interest earned as part of your total savings and include compound interest. The tax treatment of your savings will depend on your individual circumstances and may change in the future.
Promotion 1
| Initial amount | Amount that qualifies for promotion | Balance at the end of 60 days | Balance at the end of 90 days |
|---|---|---|---|
| £100,000 | £50,000 | £100,620 | £100,908 |
| £500,000 | £450,000 | £503,291 | £504,729 |
| £4,000,000 | £450,000 | £4,023,327 | £4,034,827 |
Promotion 2
| Initial amount | Amount that qualifies for promotion | Balance at the end of 60 days | Balance at the end of 90 days |
|---|---|---|---|
| £100,000 | £100,000 | £100,668 | £101,003 |
| £500,000 | £500,000 | £503,339 | £505,017 |
| £4,000,000 | £3,000,000 | £4,025,753 | £4,038,685 |
For all Capital on Tap Savings Promotions the interest rate is based on the current interest rate available on the account as it stood on 15th September 2025.
Please note that this calculation is for illustration purposes only. The interest rate on an Instant Savings account is variable and therefore the total could be more or less than shown here depending on whether rates rise or fall. This calculator assumes the interest rate does not change during the period of time selected and that no further deposits or withdrawals are made beyond initial deposits listed. The calculations shown include the total amount of interest earned as part of your total savings and include compound interest. The tax treatment of your savings will depend on your individual circumstances and may change in the future.
You will be able to apply for and manage the Instant Savings Account, via the Capital on Tap app (which can be downloaded on Google Play for Android users, or the App Store for those with iOS and iPadOS operating systems), or directly on our website.
The minimum required balance to open an account is £1, and you'll need to be a Limited or LLP business operating in the UK.
We reserve the right to set a maximum balance on the account which we will communicate to you.
Please note that only one account is allowed per customer and you may not share your account between several businesses.
If you need more information on the account - including how to open one - you can send us a secure message from your Capital on Tap account, contact us via Live Chat, or call our team on 020 8962 7401.
You can access your funds at any time - without any restrictions - via the app or website. Payments usually take up to 3 hours, and any funds will be paid into your nominated bank account.
You'll need to keep £1 in the account to keep it open. If you want to remove all funds, you'll be given the option to either withdraw all your money and close the account or leave £1 in to keep it open.
Capital on Tap is not a bank and we don't have physical branches. Capital on Tap does not provide financial advice. Our Savings Account is powered by ClearBank. Customers with an Instant Savings Account are introduced to ClearBank, with their deposits held by ClearBank as a ClearBank Customer, Capital on Tap does not possess the client's Instant Savings Account at any time. Customers can only view and manage their Instant Savings Account held with ClearBank via their Capital on Tap service. Customers are also Capital on Tap customers, in that they sign up to Capital on Tap's Terms and Conditions.
Depending on personal circumstances, you may have to pay tax on the interest to HM Revenue & Customs. Please seek professional tax advice if you are unsure about your tax position.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once each year.
Across all your ClearBank products, up to £85,000 is protected by the UK Financial Services Compensation Scheme (FSCS). More info.