Interest Rates

Currency Account Interest Rates

With effect from 1st November 2009 the planned borrowing debit interest will be charged at a Central Bank Reference rate for the currency of your account (which may change daily) plus any applicable margin (which is set out in your facility letter). Details of the Central Bank Reference rates can be found from the following web site addresses or by contacting your relationship manager or branch.

Debit Interest Central Bank Reference rates (all the links below opens in a new window)

• Australia RBA Cash Rate
• Canada- Bank Rate
• Denmark – Lending Rate
• Euro- Marginal lending facility
• Hong Kong – Base Rate / (= US Fed + 0.50% (where a range is quoted the highest rate is utilised))
• Japan – Basic Loan Rate
• New Zealand - Official Cash rate
• Norway – Overnight Lending Rate
• Poland – Reference rate
• Singapore – 3 Month US$ SIBOR Rate (published weekly)
• South Africa – Prime Rate
• Sweden – Lending Rate
• Switzerland – SNB Target Rate (UBL Rate) - where a range is quoted the highest rate is utilised
• USA - Fed Rate – where a range is quoted the highest rate is utilised

Credit interest will be paid at a fixed rate for the currency of your account. Any applicable credit interest is calculated on a daily basis on the cleared credit balance and if applicable paid quarterly on the 30th of March June September and December.

With effect from 17th June 2013, no credit interest will be applied to cleared credit balances in any approved currency in your Currency Account(s).

+Gross rate is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time payment, presently 20%

**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year

We are a member of 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.

Clydesdale Bank PLC 30 St Vincent Place Glasgow G1 2HL Registered in Scotland No: SC001111.