Business interest rates and charges
Our Business Banking interest rates and charges
See Business Credit Card Interest Rates or Business Banking Tariff
| Yorkshire Bank Base Rate | Current % p.a. |
Previous % p.a. |
|---|---|---|
| Effective from 6th March 2009 |
0.50
|
1.00
|
| Bank of England Base Rate | Current % p.a. |
Previous % p.a. |
|---|---|---|
| Changed on 5th March 2009, Effective from 6th March 2009 |
0.50
|
1.00
|
Business Lending
Interest rates charged for borrowing facilities are negotiable at the time of application and are normally based at a margin above our Bank Base Rate or Bank of England Base Rate (Official Bank Rate). For further details you can contact our branches where bank staff will provide information on how interest is calculated. There is no charge for this explanation.
If however, we are requested to investigate a specific interest calculation there may be a charge for the time and cost involved in this investigation. Details of any charge, if applicable, will be advised to you at the time the service is requested.
Property Development Facility
3 month BBA Sterling LIBOR Rate (rounded down to three decimal places)
| Effective from Wednesday 1st February 2012 |
1.081%
|
This type of facility is available only for property development lending of a commercial nature in excess of £250,000.
Interest rates charged for these facilities are negotiable at the time of application and are based at a margin over the 3 month BBA Sterling LIBOR Rate (rounded down to three decimal places) on the first business day of the month in which the facility is drawn.
The rate is valid for a 3 month period which runs from the first business day of the month in which the facility was drawn and reset quarterly thereafter.
For further details you can contact a Business Partner at any of our Financial Solution Centres
| Date Effective From |
Current Gross## Rate % |
Current AER* % |
Previous Gross## Rate % |
Previous AER* % |
||
|---|---|---|---|---|---|---|
| Business Choice ‡ | ||||||
| £1 + |
06/02/2009
|
0.00
|
0.00
|
0.00
|
0.00
|
|
| Business Choice Charities ‡ | ||||||
| £1 + |
01/10/2010
|
0.25
|
0.25
|
0.85
|
0.85
|
|
| Offset Business Current Account¬ | ||||||
| £1 + |
6/02/2009
|
0.00
|
0.00
|
0.00
|
0.00
|
|
| Clubs & Associations/Charities | ||||||
| £1 and over |
31/03/2009
|
0.00
|
0.00
|
0.10
|
0.10
|
|
| Academy Current Account | ||||||
| £1 - £10,000 |
09/01/2009
|
0.00
|
0.00
|
0.00
|
0.00
|
|
| £10,001 - £25,000 |
09/01/2009
|
0.00
|
0.00
|
0.25
|
0.25
|
|
| £25,001 and over |
09/01/2009
|
0.00
|
0.00
|
0.50
|
0.50
|
|
| Professional Firms Clients Account | ||||||
| £1 and over |
06/07/2007
|
Negotiable
|
Negotiable
|
N/A
|
N/A
|
|
| Charity Instant Access Account*** | ||||||
| £1 - £99,999 | 16/08/10 | 0.50 | 0.50 | n/a | n/a | |
| £100,000 - £499,999 | 16/08/10 | 0.60 | 0.60 | n/a | n/a | |
| £500,000 - £999,999 | 16/08/10 | 0.70 | 0.70 | n/a | n/a | |
| £1,000,000 - £5,000,000 | 16/08/10 | 0.85 | 0.85 | n/a | n/a | |
| Business Cash Management | ||||||
| £1 - £1,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £2,000 - £24,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £25,000 - £99,999 |
30/01/2009
|
0.10
|
0.10
|
0.40
|
0.40
|
|
| £100,000 - £249,999 |
27/02/2009
|
0.10
|
0.10
|
0.35
|
0.35
|
|
| £250,000 - £499,999 |
31/03/2009
|
0.10
|
0.10
|
0.15
|
0.15
|
|
| £500,000 - £999,999 |
31/03/2009
|
0.10
|
0.10
|
0.15
|
0.15
|
|
| £1,000,000+ |
31/03/2009
|
0.10
|
0.10
|
0.20
|
0.20
|
|
| Offset Business Savings Account¬ | ||||||
| £1 - £1,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £2,000 - £24,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £25,000 - £99,999 |
30/01/2009
|
0.10
|
0.10
|
0.40
|
0.40
|
|
| £100,000 - £249,999 |
27/02/2009
|
0.10
|
0.10
|
0.35
|
0.35
|
|
| £250,000 - £499,999 |
31/03/2009
|
0.10
|
0.10
|
0.15
|
0.15
|
|
| £500,000 - £999,999 |
31/03/2009
|
0.10
|
0.10
|
0.15
|
0.15
|
|
| £1,000,000+ |
31/03/2009
|
0.10
|
0.10
|
0.20
|
0.20
|
|
| TeleBank Investment† | ||||||
| £1 - £1,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £2,000 - £24,999 |
30/01/2009
|
0.10
|
0.10
|
0.25
|
0.25
|
|
| £25,000 - £49,999 |
30/01/2009
|
0.10
|
0.10
|
0.40
|
0.40
|
|
| £50,000 - £99,999 |
30/01/2009
|
0.10
|
0.10
|
0.50
|
0.50
|
|
| £100,000 - £499,999 |
27/02/2009
|
0.10
|
0.10
|
0.40
|
0.40
|
|
| £500,000 - £999,999 |
27/02/2009
|
0.10
|
0.10
|
0.45
|
0.45
|
|
| £1,000,000 + |
31/03/2009
|
0.10
|
0.10
|
0.20
|
0.20
|
|
| 12 Month Business Term Deposit** | ||||||
| £5,000 - £24,999 |
23/09/2009
|
3.00
|
3.00
|
2.70
|
2.70
|
|
| £25,000 - £49,999 |
23/09/2009
|
3.00
|
3.00
|
2.70
|
2.70
|
|
| £50,000 - £99,999 |
23/09/2009
|
3.00
|
3.00
|
2.70
|
2.70
|
|
| £100,000 - £5,000,000 |
23/09/2009
|
3.00
|
3.00
|
2.70
|
2.70
|
|
| 30 Day Notice Account - Business | ||||||
| £0- £99,999 |
31/03/2009
|
0.25
|
0.25
|
0.75
|
0.75
|
|
| £100,000 - £999,999 |
31/03/2009
|
0.60
|
0.60
|
1.10
|
1.10
|
|
| £1,000,000+ |
31/03/2009
|
0.85
|
0.85
|
1.35
|
1.35
|
|
Offsale Accounts
| Date Effective From |
Current Gross## Rate % |
Current AER* % |
||||
|---|---|---|---|---|---|---|
| Business Passbook Account (Interest paid twice yearly in January and July) |
||||||
| £0 - £49 |
1/11/2009
|
0.10
|
0.10
|
|||
| £50 -£249 |
1/11/2009
|
0.10
|
0.10
|
|||
| £250 - £499 |
1/11/2009
|
0.10
|
0.10
|
|||
| £500 - £2,499 |
1/11/2009
|
0.10
|
0.10
|
|||
| £2,500 - £4,999 |
1/11/2009
|
0.10
|
0.10
|
|||
| £5,000 - £9,999 |
1/11/2009
|
0.10
|
0.10
|
|||
| £10,000 - £24,999 |
1/11/2009
|
0.10
|
0.10
|
|||
| £25,000 and over |
1/11/2009
|
0.10
|
0.10
|
|||
Important Information
With the exception of the 12 month Business Term Deposit and Business Passbook Account, rates of interest for these accounts are variable. Interest rates for Business Passbook Account are fixed at the rates shown. Interest for 12 month Business Term Deposits is fixed at the rate payable on the day the funds are deposited for the fixed term of the deposit. No additional deposits or withdrawals are permitted to our 12 month Business Term Deposit during the fixed term of the deposit. All business accounts in this notice have tiered interest.
Credit interest is calculated for all the accounts in this notice on a daily basis. For Business Choice Account, Business Choice Charities Account, Academy Current Account, Clubs & Associations/Charities, Offset Business Current Account interest will be credited to accounts monthly in arrears. For Business Cash Management, Offset Business Savings Account, TeleBank Investment and Professional Firms Clients Account interest will be credited to accounts at the end of each calendar quarter. For 12 month Business Term Deposits interest will be credited to accounts at Maturity.
Terms and Conditions for these accounts are available on request.
##Gross Rate. Gross interest is interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (presently 20%).
*AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
‡Business Choice Account interest rate is 2.5% below Bank of England Base Rate. Due to the present level of Bank of England base rate, credit interest is currently not payable on your bank account. Business Choice Charities Account interest rate is 0.25% below Bank of England Base Rate and the Account is only available to Registered Charities.
¬ You may only open an Offset Business Current Account or an Offset Business Savings Account if you also have an Offset Mortgage. Offset Business Current Account interest rate is 2.5% below Bank of England Base Rate. Due to the present level of Bank of England base rate, credit interest is currently not payable on your bank account. Bank of England Base Rate is presently 0.50% and is variable.
#Calls to this number may be monitored and recorded.
***Charity Instant Access Account is only available to Registered & Exempt Charities. The maximum balance is £5,000,000.
†Available to subscribers of the TeleBank Business Service. Terms and Conditions of the account are available on request. TeleBank® is a registered trademark of Clydesdale Bank PLC, a member of the National Australia Bank Group of which Yorkshire Bank is also a member.
We are covered by the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and circumstances of the claim.
Further details of the scheme are available from us on request or from the Financial Services Compensation Scheme www.fscs.org.uk or in writing from the Financial Services Compensation Scheme, 7th Floor , Lloyds Chambers, 1 Portsoken Street, London E1 8BN.
Clydesdale Bank and Yorkshire Bank are trading names of Clydesdale Bank PLC. As both banks are part of the one and same authorised entity the FSCS compensation limit applies to deposits held across both brands.