Business banking > Current accounts > Interest rates
Interest rates
Rates correct as at 19th November 2008
- but are subject to variation unless otherwise stated.
These are the interest rates currently in effect for our business products. Previous rates are in brackets.
- Current accounts
- Deposit accounts
- Fixed rate loans
- General information
Current Accounts
Business Directplus
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £999 |
0.00 (0.00) |
0.00 (0.00) |
0.00 (0.00) |
Monthly |
| £1,000+ |
0.80 (1.20) |
1.00 (1.50) |
1.00 (1.51) |
| £5,000+ |
0.95 (1.35) |
1.18 (1.68) |
1.19 (1.70) |
| £10,000+ |
1.05 (1.45) |
1.31 (1.81) |
1.32 (1.82) |
| £25,000+ |
1.07 (1.47) |
1.34 (1.84) |
1.35 (1.85) |
| £100,000+ |
1.65 (2.05) |
2.06 (2.56) |
2.08 (2.59) |
| £250,000+ |
2.92 (3.32) |
3.65 (4.15) |
3.71 (4.23) |
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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Clarity Business Banking
| |
Net % |
Gross % |
AER % |
Interest credited |
| £0.01+ |
1.80 (2.20) |
2.25 (2.75) |
2.27 (2.78) |
Monthly |
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FSB Business Banking
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £999 |
0.12 (0.20) |
0.10 (0.25) |
0.12 (0.25) |
Monthly |
| £1,000+ |
0.87 (1.27) |
1.09 (1.59) |
1.09 (1.60) |
| £5,000+ |
1.05 (1.45) |
1.31 (1.81) |
1.32 (1.82) |
| £10,000+ |
1.17 (1.57) |
1.46 (1.96) |
1.47 (1.98) |
| £100,000+ |
1.65 (2.05) |
2.06 (2.56) |
2.08 (2.59) |
| £250,000+ |
2.92 (3.32) |
3.65 (4.15) |
3.71 (4.23) |
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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Community Directplus
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £1,999 |
0.00 (0.00) |
0.00 (0.00) |
0.00 (0.00) |
Monthly |
| £2,000+ |
0.50 (0.90) |
0.62 (1.12) |
0.62 (1.13) |
| £10,000+ |
0.62 (1.02) |
0.78 (1.28) |
0.78 (1.28) |
| £25,000+ |
0.65 (1.05) |
0.81 (1.31) |
0.81 (1.32) |
| £100,000+ |
1.02 (1.42) |
1.28 (1.78) |
1.28 (1.79) |
| £250,000+ |
2.32 (2.72) |
2.90 (3.40) |
2.94 (3.45) |
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Co-operatives Directplus
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £1,999 |
0.00 (0.00) |
0.00 (0.00) |
0.00 (0.00) |
Monthly |
| £2,000+ |
0.50 (0.90) |
0.62 (1.12) |
0.62 (1.13) |
| £10,000+ |
0.62 (1.02) |
0.78 (1.28) |
0.78 (1.28) |
| £25,000+ |
0.65 (1.05) |
0.81 (1.31) |
0.81 (1.32) |
| £100,000+ |
1.02 (1.42) |
1.28 (1.78) |
1.28 (1.79) |
| £250,000+ |
2.32 (2.72) |
2.90 (3.40) |
2.94 (3.45) |
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Deposit Accounts
Rates correct as at 6th November 2008
but are subject to variation unless otherwise stated
Business Select - Instant Access
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £2,499 |
0.50 (0.90) |
0.62 (1.12) |
0.62 (1.12) |
Twice Yearly |
| £2,500+ |
0.52 (0.92) |
0.65 (1.15) |
0.65 (1.15) |
| £10,000+ |
0.65 (1.05) |
0.81 (1.31) |
0.81 (1.31) |
| £50,000+ |
0.67 (1.07) |
0.84 (1.34) |
0.84 (1.34) |
| £250,000+ |
1.15 (1.55) |
1.43 (1.93) |
1.44 (1.94) |
| £500,000+ |
1.65 (2.05) |
2.06 (2.56) |
2.07 (2.57) |
Interest is calculated daily on the cleared balance and is paid twice yearly. Rates payable apply to the full balance.
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Business Select - 14 Day
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £2,499 |
0.52 (0.92) |
0.65 (1.15) |
0.65 (1.15) |
Twice Yearly |
| £2,500+ |
0.52 (0.92) |
0.65 (1.15) |
0.65 (1.15) |
| £10,000+ |
1.52 (1.92) |
1.90 (2.40) |
1.91 (2.42) |
| £50,000+ |
2.00 (2.40) |
2.50 (3.00) |
2.51 (3.02) |
| £250,000+ |
2.32 (2.72) |
2.90 (3.40) |
2.92 (3.43) |
| £500,000+ |
2.57 (2.97) |
3.21 (3.71) |
3.24 (3.75) |
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Corporate Treasury Account
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.10 (0.40) |
0.12 (0.50) |
0.12 (0.50) |
Monthly |
| £50,000 + |
0.20 (0.80) |
0.25 (1.00) |
0.25 (1.00) |
| £250,000 + |
0.80 (1.20) |
1.00 (1.50) |
1.00 (1.51) |
| £500,000 + |
1.20 (2.40) |
1.50 (3.00) |
1.51 (3.04) |
| £1,000,000 + |
2.60 (3.80) |
3.25 (4.75) |
3.29 (4.85) |
| £3,000,000 + |
2.60 (3.80) |
3.25 (4.75) |
3.29 (4.85) |
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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Public Sector Reserve Account
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.80 (2.00) |
1.00 (2.50) |
1.00 (2.52) |
Monthly |
| £50,000 to £249,999 |
1.40 (2.60) |
1.75 (3.25) |
1.76 (3.29) |
| £250,000 to £499,999 |
1.60 (2.80) |
2.00 (3.50) |
2.01 (3.55) |
| £500,000 to £999,999 |
1.80 (3.00) |
2.25 (3.75) |
2.27 (3.81) |
| £1m to £2,999,999 |
1.90 (3.10) |
2.37 (3.87) |
2.40 (3.94) |
| £3m+ |
2.20 (3.40) |
2.75 (4.25) |
2.78 (4.33) |
| |
|
|
|
|
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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Guaranteed Investment
| Term |
Net % |
Gross % |
AER % |
Date applicable |
| 3 months |
| £25,000- £99,000 |
2.60 (2.75) |
3.25 (3.43) |
3.28 (3.48) |
19/11/2008 |
| £100,000 - £999,999 |
2.75 (2.90) |
3.43 (3.62) |
3.48 (3.67) |
| £1,000,000+ |
3.24 (3.40) |
4.05 (4.25) |
4.11 (4.25) |
18/11/2008 |
| 6 months |
| £25,000- £99,000 |
2.70 (2.82) |
3.37 (3.53) |
3.40 (3.56) |
19/11/2008 |
| £100,000 - £999,999 |
2.87 (3.00) |
3.59 (3.75) |
3.62 (3.78) |
| £1,000,000+ |
3.36 (3.48) |
4.20 (4.35) |
4.24 (4.35) |
18/11/2008 |
| 1 year |
| £25,000- £99,000 |
2.00 (2.02) |
2.50 (2.53) |
2.49 (2.53) |
19/11/2008 |
| £100,000 - £999,999 |
2.15 (2.20) |
2.68 (2.75) |
2.68 (2.75) |
| £1,000,000+ |
2.48 (2.56) |
3.10 (3.20) |
3.10 (3.20) |
18/11/2008 |
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Corporate Reserve
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.10 (0.50) |
0.12 (0.62) |
0.12 (0.62) |
Monthly |
| £50,000+ |
0.20 (0.87) |
0.25 (1.09) |
0.25 (1.09) |
| £250,000+ |
0.80 (1.27) |
1.00 (1.59) |
1.00 (1.60) |
| £500,000+ |
1.30 (2.50) |
1.62 (3.12) |
1.63 (3.17) |
| £1,000,000+ |
1.97 (3.17) |
2.46 (3.96) |
2.49 (4.04) |
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Loans
Rates correct as at 19th November 2008
but are subject to variation unless otherwise stated.
1-2 Years
| |
Fixed Rate % |
APR % |
| £2,500 - £10,000 |
9.25 (9.38) |
9.65 (9.79) |
| £10,001 - £25,000 |
8.25 (8.38) |
8.56 (8.70) |
| £25,001 - £100,000 |
Call 08457 213 213 for a quote |
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3-5 Years
| |
Fixed Rate % |
APR % |
| £2,500 - £10,000 |
9.38 (9.72) |
9.79 (10.16) |
| £10,001 - £25,000 |
8.38 (8.72) |
8.70 (9.07) |
| £25,001 - £100,000 |
Call 08457 213 213 for a quote |
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6-7 Years
| |
Fixed Rate % |
APR % |
| £25,001 - £100,000 |
Call 08457 213 213 for a quote |
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Typical Example: To Borrow £15,000 over 4 years would be a
monthly payment of £368.88 at 8.38% (8.70% APR)
Total Repayment over the term of the loan: £17,706.05
Explanatory Notes
Net rate - assumes 20% Basic Rate Income Tax and are paid to all customers except those who are eligible and apply for payment of interest gross
Gross rate – is the annual rate of interest which is allowed without deduction of basic rate tax to certain organisations.
The Annual Equivalent Rate (AER) – a notional rate calculated as if the gross rate was paid and compounded on an annual basis. Rates payable apply to the full balance.
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