Annual Equivalent Rate, or AER, is used to show what you would earn in return from your savings account over a 12-month period.

It makes it easier to compare savings accounts that might have differences between them, such as different charges or time periods.

You'll be pleased to know that there are no charges or fees for saving through Shoal, which means the expected returns displayed when creating a Savings Pot is what you'll receive once your Savings Pot matures.

✨Tip: Remember, a higher AER means higher returns on your savings.