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Interest Rates & Charges

Current interest rates

These are the interest rates currently in effect for our accounts and mortgages. Please read these explanatory notes for an explanation of the terms used.
 
  • Reference Interest Rate
  • Current Accounts
  • Deposit Accounts
  • Discontinued Products

REFERENCE INTEREST RATE  

Bank of Scotland announces that with effect from 5th of March 2009 its Reference Rate has been changed from 1.00% per annum to 0.50% per annum. Reference Rate means the Bank of England Bank Rate or such other externally set rate as We may decide from time to time.
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CURRENT ACCOUNTS  


Corporate Current Account
Balance AER % Gross %
On all balances 0.00 0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Not For Profit Current Account
Balance AER % Gross %
£250,000 and above 0.00 0.00
£100,000 to £249,999 0.00 0.00
£50,000 to £99,999 0.00 0.00
£10,000 to £49,999 0.00 0.00
Under £10,000 0.00 0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Currency Interest Reference Rates

For more information see the Currency Interest Reference Rates PDF


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DEPOSIT ACCOUNTS 



Interest First Account
Term Interest rate based on a balance
of £250,000 and above %
3 months Rates temporarily unavailable
6 months Rates temporarily unavailable
12 months Rates temporarily unavailable
Rates temporarily unavailable

Available to new Not For Profit customer organisations only

The rate shown above is only available today. Due to the nature of the product, we may also need to withdraw the rate quoted above today without notice. If the rate is withdrawn in this way, we will endeavour to publish new rates as soon as possible.

You should note that in order to place a deposit with us, you will need to satisfy the standard account application and customer due diligence processes that apply to the product (if you have not already done so).



Pension Fund Cheque Account: Monthly Interest
Balance AER % Gross %
£1,000,000 and above 0.30 0.30
£100,000 to £999,999 0.10 0.10
£50,000 to £99,999 0.10 0.10
Under £50,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Pension Fund Cheque Account: Annual Interest
Balance AER % Gross %
£1,000,000 and above 0.30 0.30
£100,000 to £999,999 0.10 0.10
£50,000 to £99,999 0.10 0.10
Under £50,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Trust Accounts
Balance AER % Gross %
£10,000 and above 0.10 0.10
Under £10,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Deposit Currency Account
Currency Rate %
US Dollar (US Dollar managed rate) Rates temporarily unavailable
Euro (Euro Managed rate) Rates temporarily unavailable
Rates temporarily unavailable

The rate for the Euro Currency Account is based on EONIA ( Euro Overnight Index Averaged ) and may change daily.

The rate for the US Dollar Currency Account is based on the US Federal Funds benchmark rate and may change daily


Corporate Deposit Account
For details of your current interest rates, please contact your relationship manager

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DISCONTINUED PRODUCTS 

These are the interest rates currently in effect for our discontinued products.

Corporate Instant Access Account
Balance AER % Gross %
On all balances 0.50 0.50
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


CORPORATE E-BUSINESS DEPOSIT ACCOUNT
Balance AER % Gross %
£100,000 and above 0.10 0.10
£50,000 to £99,999 0.10 0.10
£25,000 to £49,999 0.10 0.10
£5,000 to £24,999 0.10 0.10
Under £5,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Bonus Account: Standard Rate
Balance AER % Gross %
£1 and above 0.75 0.75
Corporate Bonus Account: 30 Day Bonus Rate
Balance AER % Gross %
£1 and above 0.90 0.90
Corporate Bonus Account: 60 Day Bonus Rate
Balance AER % Gross %
£1 and above 1.00 1.00
Rates with effect from 05 March 2009.

For more information see the Product Prices PDF


Corporate Business Bonus Account: Instant Rates
Balance AER % Gross %
£100,000 and above 0.10 0.10
£50,000 to £99,999 0.10 0.10
£25,000 to £49,999 0.10 0.10
£10,000 to £24,999 0.10 0.10
£2,500 to £9,999 0.10 0.10
Under £2,500 0.10 0.10
Corporate Business Bonus Account: 30 Day Bonus Rate
Balance AER % Gross %
£100,000 and above 0.15 0.15
£50,000 to £99,999 0.15 0.15
£25,000 to £49,999 0.15 0.15
£10,000 to £24,999 0.15 0.15
£2,500 to £9,999 0.15 0.15
Under £2,500 0.15 0.15
Corporate Business Bonus Account: 90 Day Bonus Rate
Balance AER % Gross %
£100,000 and above 0.25 0.25
£50,000 to £99,999 0.20 0.20
£25,000 to £49,999 0.20 0.20
£10,000 to £24,999 0.20 0.20
£2,500 to £9,999 0.20 0.20
Under £2,500 0.20 0.20
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Business Investment Account
Balance AER % Gross %
£1,000,000 and above 0.10 0.10
£500,000 to £999,999 0.10 0.10
£100,000 to £499,999 0.10 0.10
£25,000 to £99,999 0.10 0.10
Under £25,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Investment Account
Balance AER % Gross %
£10,000,000 and above 0.45 0.45
£5,000,000 to £9,999,999 0.40 0.40
£1,000,000 to £4,999,999 0.30 0.30
£500,000 to £999,999 0.15 0.15
Under £500,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate 30 day Reserve Account
Balance AER % Gross %
£5,000,000 and above 0.55 0.55
£2,500,000 to £4,999,999 0.50 0.50
£1,000,000 to £2,499,999 0.45 0.45
£500,000 to £999,999 0.30 0.30
£100,000 to £499,999 0.15 0.15
Under £100,000 0.10 0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Direct Corporate Cheque Account
Balance AER % Gross %
£100,000 and above 0.00 0.00
£50,000 to £99,999 0.00 0.00
£25,000 to £49,999 0.00 0.00
£5,000 to £24,999 0.00 0.00
Under £5,000 0.00 0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Flexible Niche Investment Account
For details of your current interest rates, please contact your relationship manager


Corporate Treasurers Account
Balance AER % Gross %
£2,500 and above 0.00 0.00
Under £2,500 0.00 0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Treasury Cheque Account
Balance AER % Gross %
£1,000,000 and above 0.10 0.10
£500,000 to £999,999 0.00 0.00
£100,000 to £499,999 0.00 0.00
£50,000 to £99,999 0.00 0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


Corporate Premium Deposit Account
Balance AER % Gross %
On all balances 0.75 0.75
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF


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EXPLANATORY NOTES

The Annual Equivalent Rate (AER) represents the annual rate effectively received by the customer if interest at the gross rate applied during a year remained in the account and itself earned interest. As every advert for a savings product where a rate is displayed will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

Gross: the rate of interest paid without deduction of tax to eligible non-taxpayers:

  1. incorporated bodies such as limited companies, pension funds, charities, churches, societies, associations, clubs
  2. individuals not ordinarily resident in the UK who have completed the necessary Inland Revenue declaration
  3. non-taxpaying UK residents who have completed an Inland Revenue form R85 and lodged it with Bank of Scotland. Form R85 and an Inland Revenue explanatory leaflet (IR110) are available from all Bank of Scotland branches and from Corporate Customer Services

For customers with joint accounts for two persons, where one person can complete form R85 to have interest paid gross but the other person cannot, Bank of Scotland is offering the facility to have 50% of the interest paid gross and 50% paid net. All Bank of Scotland branches and Bank of Scotland Corporate Customer Services will give further information on this facility.

Current comparative interest rate information can be found on the British Bankers Association website www.bba.org.uk (opens new window)