Interest rates
Rates correct as at 31st January 2012 - 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
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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| Net % | Gross % | AER % | Interest credited | |
|---|---|---|---|---|
| £0.01+ | 0.10 (0.10) | 0.12 (0.12) | 0.12 (0.12) | Monthly |
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
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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+ | 0.10 (0.10) | 0.12 (0.12) | 0.12 (0.12) | |
| £10,000+ | 0.12 (0.15) | 0.15 (0.18) | 0.15 (0.18) | |
| £25,000+ | 0.15 (0.20) | 0.18 (0.25) | 0.18 (0.25) | |
| £100,000+ | 0.17 (0.25) | 0.21 (0.31) | 0.21 (0.31) | |
| £250,000+ | 0.20 (0.32) | 0.25 (0.40) | 0.25 (0.40) |
Deposit Accounts
Rates correct as at 31st January 2012
but are subject to variation unless otherwise stated
Business Select - Instant Access
Rates correct as at 29th March 2009.
| Net % | Gross % | AER % | Interest credited | |
|---|---|---|---|---|
| Up to £2,499 | 0.05 (0.10) | 0.06 (0.12) | 0.06 (0.12) | Twice Yearly |
| £2,500+ | 0.05 (0.10) | 0.06 (0.12) | 0.06 (0.12) | |
| £10,000+ | 0.05 (0.10) | 0.06 (0.12) | 0.06 (0.12) | |
| £50,000+ | 0.05 (0.10) | 0.06 (0.12) | 0.06 (0.12) | |
| £250,000+ | 0.10 (0.12) | 0.12 (0.15) | 0.12 (0.15) | |
| £500,000+ | 0.12 (0.15) | 0.15 (0.18) | 0.15 (0.18) |
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
Rates correct as at 15th March 2009.
| Net % | Gross % | AER % | Interest credited | |
|---|---|---|---|---|
| Up to £2,499 | 0.07 (0.10) | 0.09 (0.12) | 0.09 (0.12) | Twice Yearly |
| £2,500+ | 0.07 (0.10) | 0.09 (0.12) | 0.09 (0.12) | |
| £10,000+ | 0.07 (0.10) | 0.09 (0.12) | 0.09 (0.12) | |
| £50,000+ | 0.07 (0.12) | 0.09 (0.15) | 0.09 (0.15) | |
| £250,000+ | 0.12 (0.15) | 0.15 (0.18) | 0.15 (0.18) | |
| £500,000+ | 0.15 (0.20) | 0.18 (0.25) | 0.18 (0.25) |
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
Interest is calculated daily on the cleared balance and is paid monthly. Rates payable apply to the full balance.
Guaranteed Investment - corporate banking customer
For terms and rates please contact your Relationship Manager or call 0800 587 2864.
Loans
Rates correct as at 2nd November 2010
but are subject to variation unless otherwise stated.
| Fixed Rate % | APR % | |
|---|---|---|
| £2,500 - £10,000 | 7.29 (6.75) | 7.53 (6.96) |
| £10,001 - £25,000 | 6.29 (7.25) | 6.47 (7.49) |
| £25,001 - £100,000 | Call 08457 213 213 for a quote | |
| Fixed Rate % | APR % | |
|---|---|---|
| £2,500 - £10,000 | 7.75 (5.75) | 8.03 (5.90) |
| £10,001 - £25,000 | 6.75 (6.25) | 6.96 (6.43) |
| £25,001 - £100,000 | Call 08457 213 213 for a quote | |
| Fixed Rate % | APR % | |
|---|---|---|
| £25,001 - £100,000 | Call 08457 213 213 for a quote | |
Typical Example: To Borrow £15,000 over 4 years would be a
monthly payment of £357.49 at 6.75% (6.96 % APR)
Total Repayment over the term of the loan: £17,159.50
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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