Interest rates

Rates correct as at 9th October 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

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 9th October 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 0.40 (0.80) 0.50 (1.00) 0.50 (1.00) Monthly
£50,000 +
0.80 (1.20)
 1.00 (1.50) 1.00 (1.51)
£250,000 + 1.20 (1.60) 1.50 (2.00) 1.51 (2.01)
£500,000 + 2.40 (2.80) 3.00 (3.50) 3.04 (3.55)
£1,000,000 + 3.80 (4.20) 4.75 (5.25) 4.85 (5.37)
£3,000,000 + 3.80 (4.20) 4.75 (5.25) 4.85 (5.37)

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 2.00 (2.40) 2.50 (3.00) 2.52 (3.04) Monthly
£50,000 to £249,999 2.60 (3.00) 3.25 (3.75) 3.29 (3.81)
£250,000 to £499,999 2.80 (3.20) 3.50 (4.00) 3.55 (4.07)
£500,000 to £999,999 3.00 (3.40) 3.75 (4.25) 3.81 (4.33)
£1m to £2,999,999 3.10 (3.50) 3.87 (4.37) 3.94 (4.46)
£3m+ 3.40 (3.80) 4.25 (4.75) 4.33 (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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Guaranteed Investment
Term Net % Gross % AER % Date applicable

3 months
£25,000- £99,000 4.10 (4.00) 5.12 (5.00) - 24/09/2008
£100,000 - £999,999 4.27 (4.15) 5.34 (5.18) -
£1,000,000+ 4.92 (4.76) 6.15 (5.95) - 30/09/2008

6 months
£25,000- £99,000 4.20 (4.15) 5.25 (5.18) - 24/09/2008
£100,000 - £999,999 4.35 (4.30) 5.43 (5.37) -
£1,000,000+ 5.00 (4.84) 6.25 (6.05) - 30/09/2008

1 year
£25,000- £99,000 4.27 (4.22) 5.34 (5.28) - 24/09/2008
£100,000 - £999,999 4.42 (4.40) 5.53 (5.50) -
£1,000,000+ 5.32 (5.16) 6.65 (6.45) - 30/09/2008

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Corporate Reserve
  Net % Gross % AER % Interest credited
Up to £49,999 0.50 (0.90) 0.62 (1.12) 0.62 (1.13) Monthly
£50,000+ 0.87 (1.27) 1.09 (1.59) 1.09 (1.60)
£250,000+ 1.27 (1.67) 1.59 (2.09) 1.60 (2.11)
£500,000+ 2.50 (2.90) 3.12 (3.62) 3.17 (3.68)
£1,000,000+ 3.17 (3.57) 3.96 (4.46) 4.04 (4.56)

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Loans

Rates correct as at 24th September 2008
but are subject to variation unless otherwise stated.

1-2 Years

  Fixed Rate % APR %
£2,500 - £10,000 11.32 (11.22) 11.92 (11.81)
£10,001 - £25,000 10.32 (10.22) 10.82 (10.71)
£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 11.16 (11.00) 11.74 (11.57)
£10,001 - £25,000 10.16 (10.00) 10.64 (10.47)
£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 £381.60 at 10.16% (10.64% APR)
Total Repayment over the term of the loan: £18,316.49

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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How to apply