UK Savings Interest & AER Calculator (2026/27)

Calculate how much interest your lump sum and monthly deposits earn at any UK AER interest rate and see whether HMRC savings tax applies.

Savings Balance at 4.75% AER	Annual Gross Interest	Personal Savings Allowance Status
£10,000 Balance	£475.00 / year	100% Tax-Free for Basic & Higher Rate
£21,053 Balance	£1,000.00 / year	Exact Basic Rate PSA Limit (£1,000)
£50,000 Balance	£2,375.00 / year	Exceeds Basic (£1k) & Higher (£500) PSA

Frequently Asked Questions (2026/27 & 2027/28 UK Rules)

How much can I hold in savings before paying UK tax on the interest?

At 4.75% AER, a Basic rate taxpayer can hold roughly £21,050 before exceeding the £1,000 Personal Savings Allowance, while a Higher rate taxpayer can hold roughly £10,525 before exceeding their £500 allowance.

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