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Santander Direct ISA i6 ?

I have almost 30k in a santander Direct ISA i6 but can anyone explain to me exactly what Santander's blurb on their website actually means in English..LOL's...here's what it say's on their website....
"Manage your money online and enjoy fantastic tiered interest rates 2.75% AER tax free (variable) when you have 9k+ which includes the added boost of a 12 month variable bonus on your tax-free savings and the option to transfer in from other ISA providers too.
Balances of 9k+ earn a bonus of 2.25%"

I'm trying to work out exactly how much interest i should be getting from santander as i find this very confusing.
I have underlined the parts i do not understand,TIA.
LilithsBrother

Comments

  • Bettie
    Bettie Posts: 1,258 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    I have this account and I get 0.5% interest on it as I have over £9000 in it. I also get a bonus for the first year only. At present this is 2.25%. it can change so it is called a variable bonus.
    Tiered just means that the interest rate goes up in stages depending on how much you have in the account.
    After one year I will transfer the money to a better paying account as 0.5% is very poor.
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