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A tiered rate model will follow the below structure:

• Balances up to €100,000 will earn the regular plan rate
• Balances over €100,000 and up to €5,000,000 will earn a lowered rate — only for customers on eligible plans. Eligible plans: Ultra
• Customers on other plans continue to earn the regular plan rate on their full balance up to €5,000,000

A blended rate will be calculated using the two rates, and that resulting rate will be applied to the total savings balance (across all Savings accounts in the same local currency).

If customers have €150,000 saved across all Savings accounts (in the same local currency):

• €100,000 earns 2.25% AER – Tier 1
• €50,000 earns 2.01% AER – Tier 2
• 2.17% (expressed as AER) will be the blended rate applied to the full balance

• Step 1: multiply the amount below and above the €100,000 threshold by their respective annual (p.a.) rates, then add the results. Divide this total by the full balance to get the blended rate in p.a.: (€100,000 x 2.23% p.a. + €50,000 x 1.99% p.a.) ÷ €150,000 = 2.15% p.a.
• Step 2: convert to AER to reflect compounding (using 365 days as example): (1 + p.a. ÷ 365 days )^365 days - 1 = 2.17% AER

This blended rate of 2.17% AER will be applied to the full balance.

It will continue remaining limited up to approximately €100,000 (or other currency equivalent) per currency.