Good to know
- You can pay in and withdraw your money at any of our branches
- You can also access your account 24 hours a day, 7 days a week using eBanking or our app
- Choose to have your interest paid monthly or annually
- Withdraw your money whenever you need it
- You can pay in as much as you like, whenever you like
Need to know
- Exclusively for personal customers aged 50 and over (although you may hold the account jointly with someone who is under 50)
- You can open the account with a minimum of £1. There is no maximum balance
Please review the summary box below which contains all of the information you need to know before applying for a Danske Midas account.
|Balance||Gross/AER (monthly interest)||Gross/AER (yearly interest)|
|£2,000 - £4,999||0.50%||0.50%|
|£5,000 - £9,999||0.50%||0.50%|
|£10,000 - £24,999||0.50%||0.50%|
|£25,000 - £99,999||0.50%||0.50%|
|£100,000 - £249,999||0.50%||0.50%|
|£250,000 and over||0.50%||0.50%|
The Danske Midas product rate will reduce to 0.25% gross / AER from 1 April 2020 across all tiers.
- Interest is paid on a tiered basis, which means you will earn one rate on your entire account balance. That rate depends on the total balance.
- You have a choice of having your interest paid monthly or yearly. Interest is calculated on a daily basis on the cleared credit balance on your account and applied at the end of each month (monthly interest) or at the end of October (yearly interest).
|Initial deposit at account opening||Estimated interest earned after 12 months||Estimated balance after 12 months|
This estimate does not take account of the interest rate reduction which will take effect on 1 April 2020.
These estimates are for illustrative purposes only and do not take into account your individual circumstances.
The estimates assume that:
- no further deposits or withdrawals are made;
- there is no change to the interest rate and tiers; and
- interest is added to the account at the end of each month (monthly interest) or at the end of the 12 month period (yearly interest).
Want to change from your existing instant access savings account?
To change over an instant access Danske savings account (excludes Danske Cash ISA) to a Danske Midas account.
Refer to further information below if the account you wish to change is a SaverPlus account.
If you apply to change an existing SaverPlus account to a Danske Midas account, and you have a debit card linked to this account, the card will be cancelled. Advisers on our Account Opening line can talk you through the things you need to consider before we change your account and cancel your card such as making alternative arrangements for any continuous payments (linked to the card) that you have set up (e.g. Sky subscription) as they’ll also be cancelled.
This account is not suitable for day-to-day banking.
We’ll send you a statement at least every six months. If you use eBanking, you can ask us to make these statements available electronically instead of sending you paper copies.
How savings are taxed depends on your individual circumstances and may change in the future.
Danske eBanking may be temporarily unavailable when we carry out routine maintenance.