Business banking > Deposit accounts > Interest rates
Interest rates
Rates correct as at 8th January 2009
- 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+ |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
| £5,000+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £10,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £25,000+ |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £100,000+ |
0.45 (0.45) |
0.56 (0.56) |
0.56 (0.56) |
| £250,000+ |
0.92 (1.72) |
1.15 (2.15) |
1.16 (2.17) |
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+ |
0.10 (0.60) |
0.12 (0.75) |
0.12 (0.75) |
Monthly |
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FSB Business Banking
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £999 |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
Monthly |
| £1,000+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £5,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £10,000+ |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £100,000+ |
0.45 (0.45) |
0.56 (0.56) |
0.56 (0.56) |
| £250,000+ |
0.92 (1.72) |
1.15 (2.15) |
1.16 (2.17) |
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+ |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
| £10,000+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £25,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £100,000+ |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £250,000+ |
0.32 (1.12) |
0.40 (1.40) |
0.40 (1.41) |
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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+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £25,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £100,000+ |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £250,000+ |
0.32 (1.12) |
0.40 (1.40) |
0.40 (1.41) |
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Deposit Accounts
Rates correct as at 8th January 2009
but are subject to variation unless otherwise stated
Business Select - Instant Access
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £2,499 |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
Twice Yearly |
| £2,500+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £10,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £50,000+ |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £250,000+ |
0.40 (0.40) |
0.50 (0.50) |
0.50 (0.50) |
| £500,000+ |
0.45 (0.45) |
0.56 (0.56) |
0.56 (0.56) |
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 |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
Twice Yearly |
| £2,500+ |
0.15 (0.15) |
0.18 (0.18) |
0.18 (0.18) |
| £10,000+ |
0.32 (0.32) |
0.40 (0.40) |
0.40 (0.40) |
| £50,000+ |
0.37 (0.80) |
0.46 (1.00) |
0.46 (1.00) |
| £250,000+ |
0.42 (1.12) |
0.53 (1.40) |
0.53 (1.41) |
| £500,000+ |
0.57 (1.37) |
0.71 (1.71) |
0.72 (1.72) |
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Corporate Treasury Account
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
Monthly |
| £50,000 + |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £250,000 + |
0.25 (0.25) |
0.31 (0.31) |
0.31 (0.31) |
| £500,000 + |
0.40 (0.40) |
0.50 (0.50) |
0.50 (0.50) |
| £1,000,000 + |
1.40 (1.80) |
1.75 (2.25) |
1.76 (2.27) |
| £3,000,000 + |
1.40 (1.80) |
1.75 (2.25) |
1.76 (2.27) |
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 |
0.10 (0.20) |
0.12 (0.25) |
0.12 (0.25) |
Monthly |
| £50,000 to £249,999 |
0.20 (0.60) |
0.25 (0.75) |
0.25 (0.75) |
| £250,000 to £499,999 |
0.40 (0.80) |
0.50 (1.00) |
0.50 (1.00) |
| £500,000 to £999,999 |
0.60 (1.00) |
0.75 (1.25) |
0.75 (1.25) |
| £1m to £2,999,999 |
0.70 (1.10) |
0.87 (1.37) |
0.87 (1.38) |
| £3m+ |
1.00 (1.40) |
1.25 (1.75) |
1.25 (1.76) |
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 |
1.87 (2.07) |
2.34 (2.59) |
2.36 (2.61) |
17/12/2008 |
| £100,000 - £999,999 |
2.02 (2.22) |
2.53 (2.78) |
2.55 (2.81) |
| £1,000,000+ |
2.12 (2.28) |
2.65 (2.85) |
2.67 (2.88) |
06/01/2009 |
| 6 months |
| £25,000- £99,000 |
2.02 (2.20) |
2.53 (2.75) |
2.54 (2.76) |
17/12/2008 |
| £100,000 - £999,999 |
2.20 (2.35) |
2.75 (2.93) |
2.76 (2.95) |
| £1,000,000+ |
2.24 (2.44) |
2.80 (3.05) |
2.81 (3.07) |
06/01/2009 |
| 1 year |
| £25,000- £99,000 |
1.35 (1.47) |
1.68 (1.84) |
1.68 (1.84) |
17/12/2008 |
| £100,000 - £999,999 |
1.50 (1.62) |
1.87 (2.03) |
1.87 (2.03) |
| £1,000,000+ |
1.56 (1.60) |
1.95 (2.00) |
1.95 (2.00) |
06/01/2009 |
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Corporate Reserve
| |
Net % |
Gross % |
AER % |
Interest credited |
| Up to £49,999 |
0.10 (0.10) |
0.12 (0.12) |
0.12 (0.12) |
Monthly |
| £50,000+ |
0.20 (0.20) |
0.25 (0.25) |
0.25 (0.25) |
| £250,000+ |
0.25 (0.40) |
0.31 (0.50) |
0.31 (0.50) |
| £500,000+ |
0.35 (0.50) |
0.43 (0.62) |
0.43 (0.62) |
| £1,000,000+ |
0.77 (1.17) |
0.96 (1.46) |
0.97 (1.47) |
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Loans
Rates correct as at 17th December 2008
but are subject to variation unless otherwise stated.
1-2 Years
| |
Fixed Rate % |
APR % |
| £2,500 - £10,000 |
8.66 (9.25) |
9.01 (9.65) |
| £10,001 - £25,000 |
7.66 (8.25) |
7.93 (8.56) |
| £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 |
9.16 (9.38) |
9.55 (9.79) |
| £10,001 - £25,000 |
8.16 (8.38) |
8.47 (8.70) |
| £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 £367.36 at 8.16% (8.47% APR)
Total Repayment over the term of the loan: £17,632.98
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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