Business banking > Community banking > Interest rates
Interest rates
Rates correct as at 19th August 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+ |
1.20 (1.40) |
1.50 (1.75) |
1.51 (1.76) |
| £5,000+ |
1.35 (1.55) |
1.68 (1.93) |
1.70 (1.95) |
| £10,000+ |
1.45 (1.65) |
1.81 (2.06) |
1.82 (2.08) |
| £25,000+ |
1.47 (1.67) |
1.84 (2.09) |
1.85 (2.11) |
| £100,000+ |
2.05 (2.25) |
2.56 (2.81) |
2.59 (2.84) |
| £250,000+ |
3.32 (3.52) |
4.15 (4.40) |
4.23 (4.49) |
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+ |
2.20 (2.40) |
2.75 (3.00) |
2.78 (3.04) |
Monthly |
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FSB Business Banking
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £999 |
0.20 (0.40) |
0.25 (0.50) |
0.25 (0.50) |
Monthly |
| £1,000+ |
1.27 (1.47) |
1.59 (1.84) |
1.60 (1.85) |
| £5,000+ |
1.45 (1.65) |
1.81 (2.06) |
1.82 (2.08) |
| £10,000+ |
1.57 (1.77) |
1.96 (2.21) |
1.98 (2.24) |
| £100,000+ |
2.05 (2.25) |
2.56 (2.81) |
2.59 (2.84) |
| £250,000+ |
3.32 (3.52) |
4.15 (4.40) |
4.23 (4.49) |
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+ |
0.90 (1.10) |
1.12 (1.37) |
1.13 (1.38) |
| £10,000+ |
1.02 (1.22) |
1.28 (1.53) |
1.28 (1.54) |
| £25,000+ |
1.05 (1.25) |
1.31 (1.56) |
1.32 (1.57) |
| £100,000+ |
1.42 (1.62) |
1.78 (2.03) |
1.79 (2.05) |
| £250,000+ |
2.72 (2.92) |
3.40 (3.65) |
3.45 (3.71) |
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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+ |
0.90 (1.10) |
1.12 (1.37) |
1.13 (1.38) |
| £10,000+ |
1.02 (1.22) |
1.28 (1.53) |
1.28 (1.54) |
| £25,000+ |
1.05 (1.25) |
1.31 (1.56) |
1.32 (1.57) |
| £100,000+ |
1.42 (1.62) |
1.78 (2.03) |
1.79 (2.05) |
| £250,000+ |
2.72 (2.92) |
3.40 (3.65) |
3.45 (3.71) |
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Deposit Accounts
Rates correct as at 25th April 2008
but are subject to variation unless otherwise stated
Business Select - Instant Access
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £2,499 |
0.90 (1.10) |
1.12 (1.37) |
1.12 (1.37) |
Twice Yearly |
| £2,500+ |
0.92 (1.12) |
1.15 (1.40) |
1.15 (1.41) |
| £10,000+ |
1.05 (1.25) |
1.31 (1.56) |
1.31 (1.56) |
| £50,000+ |
1.07 (1.27) |
1.34 (1.59) |
1.34 (1.60) |
| £250,000+ |
1.55 (1.75) |
1.93 (2.18) |
1.94 (2.19) |
| £500,000+ |
2.05 (2.25) |
2.56 (2.81) |
2.57 (2.83) |
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 |
0.92 (1.12) |
1.15 (1.40) |
1.15 (1.41) |
Twice Yearly |
| £2,500+ |
0.92 (1.12) |
1.15 (1.40) |
1.15 (1.41) |
| £10,000+ |
1.92 (2.12) |
2.40 (2.65) |
2.42 (2.67) |
| £50,000+ |
2.40 (2.60) |
3.00 (3.25) |
3.02 (3.27) |
| £250,000+ |
2.72 (2.92) |
3.40 (3.65) |
3.43 (3.68) |
| £500,000+ |
2.97 (3.17) |
3.71 (3.96) |
3.75 (4.00) |
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Corporate Treasury Account
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.80 (1.00) |
1.00 (1.25) |
1.00 (1.25) |
Monthly |
| £50,000 + |
1.20 (1.40) |
1.50 (1.75) |
1.51 (1.76) |
| £250,000 + |
1.60 (1.80) |
2.00 (2.25) |
2.01 (2.27) |
| £500,000 + |
2.80 (3.00) |
3.50 (3.75) |
3.55 (3.81) |
| £1,000,000 + |
4.20 (4.40) |
5.25 (5.50) |
5.37 (5.64) |
| £3,000,000 + |
4.20 (4.40) |
5.25 (5.50) |
5.37 (5.64) |
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 |
2.40 (2.60) |
3.00 (3.25) |
3.04 (3.29) |
Monthly |
| £50,000 to £249,999 |
3.00 (3.20) |
3.75 (4.00) |
3.81 (4.07) |
| £250,000 to £499,999 |
3.20 (3.40) |
4.00 (4.25) |
4.07 (4.33) |
| £500,000 to £999,999 |
3.40 (3.60) |
4.25 (4.50) |
4.33 (4.59) |
| £1m to £2,999,999 |
3.50 (3.70) |
4.37 (4.62) |
4.46 (4.72) |
| £3m+ |
3.80 (4.00) |
4.75 (5.00) |
4.85 (5.11) |
| |
|
|
|
|
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 |
4.02 (4.15) |
5.03 (5.18) |
- |
30/07/2008 |
| £100,000 - £999,999 |
4.20 (4.30) |
5.25 (5.37) |
- |
| £1,000,000+ |
4.68 (4.68) |
5.85 (5.85) |
- |
19/08/2008 |
| 6 months |
| £25,000- £99,000 |
4.20 (4.30) |
5.25 (5.37) |
- |
30/07/2008 |
| £100,000 - £999,999 |
4.35 (4.35) |
5.43 (5.59) |
- |
| £1,000,000+ |
4.80 (4.80) |
6.00 (6.00) |
- |
19/08/2008 |
| 1 year |
| £25,000- £99,000 |
4.10 (4.55) |
5.12 (5.68) |
- |
30/07/2008 |
| £100,000 - £999,999 |
4.27 (4.70) |
5.34 (5.87) |
- |
| £1,000,000+ |
5.12 (5.16) |
6.40 (6.45) |
- |
19/08/2008 |
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Corporate Reserve
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.90 (1.10) |
1.12 (1.37) |
1.13 (1.38) |
Monthly |
| £50,000+ |
1.27 (1.47) |
1.59 (1.84) |
1.60 (1.85) |
| £250,000+ |
1.67 (1.87) |
2.09 (2.34) |
2.11 (2.36) |
| £500,000+ |
2.90 (3.10) |
3.62 (3.87) |
3.68 (3.94) |
| £1,000,000+ |
3.57 (3.77) |
4.46 (4.71) |
4.56 (4.82) |
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Loans
Rates correct as at 30th July 2008
but are subject to variation unless otherwise stated.
1-2 Years
| |
Fixed Rate % |
APR % |
| £2,500 - £10,000 |
11.50 (11.97) |
12.12 (12.64) |
| £10,001 - £25,000 |
10.50 (10.97) |
11.02 (11.53) |
| £25,001 - £100,000 |
6.25 (6.72) * |
6.43 (6.93) |
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* Excludes Margin
3-5 Years
| |
Fixed Rate % |
APR % |
| £2,500 - £10,000 |
11.38 (11.82) |
11.99 (12.48) |
| £10,001 - £25,000 |
10.38 (10.82) |
10.88 (11.37) |
| £25,001 - £100,000 |
6.22 (6.66) * |
6.40 (6.86) |
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* Excludes Margin
6-7 Years
| |
Fixed Rate % |
APR % |
| £25,001 - £100,000 |
6.13 (6.47) * |
6.30 (6.66) |
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* Excludes Margin
Typical Example: To Borrow £15,000 over 4 years would be a monthly payment of £383.32 at 10.38% (10.88% APR)
Total Repayment over the term of the loan: £18,399.11
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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