Private rates
Rates of interest are subject to change but are correct
as at 1st December 2008
Our Private Banking services are usually available to clients with an individual gross salary of £75,000 or more, joint gross income of £100,000 or assets available to invest of £100,000. The account holder's salary must be paid into the account. A monthly membership fee is payable for access to our Private Banking proposition.
These criteria may vary and are subject to discussion with your Private Partner.
For further details, please contact one of our Private Partners at your nearest Yorkshire Bank Financial Solutions Centre.
Credit Terms
| Credit Interest Rates | Previous Gross * Rate % |
Current Gross * Rate % |
Current Net ** Rate % |
Current AER++ % |
|---|---|---|---|---|
| Current Account - Tracker | ||||
| On all balances ‡ | 3.50 | 2.00 | 1.60 | 2.02 |
| Savings Account - Tracker ‡‡ | ||||
| £0 - £499,999 | 4.25 | 2.75 | 2.20 | 2.78 |
| £500,000 - £999,999 | 4.50 | 3.00 | 2.40 | 3.03 |
| £1,000,000 and over | 4.75 | 3.25 | 2.60 | 3.29 |
| Rapid/Flexible Repay Mortgages | ||||
| On all balances ‡ | 3.50 | 2.00 | 1.60 | 2.02 |
‡ The gross rate of interest payable is 1.0% below the Bank of England base rate and will change within 14 days of the Bank of England base rate change.
‡‡The gross rate of interest payable on Savings Account Tracker is:
-
£0 - £499,999 is 0.25% below Bank of England base rate
-
£500,000 - £999,999 is equal to Bank of England base rate
-
£1,000,000 and over is 0.25% above Bank of England base rate
It will change within 14 days of the Bank of England base rate change.
Overdraft Terms
| Debit Interest Rates | Previous % p.a. |
Previous EAR+% |
Current % p.a. |
Current EAR+% |
|---|---|---|---|---|
| Current Account - Tracker | ||||
| Planned Borrowing Rate | ||||
| Up to £15,000 (2% over Base Rate) † | 6.50 | 6.70 | 5.00 | 5.12 |
| £15,000 and above | Contact you Private Partner | |||
| Unplanned Borrowing Rate (10% over Base Rate) † | 14.50 | 15.50 | 13.00 | 13.80 |
† These interest rates will change within 14 days of the Bank of England base rate change.
Current Accounts no longer available to new customers
| Credit Interest Rates | Previous Gross* Rate % | Current Gross* Rate % | Current Net** Rate % | Current AER++ % |
|---|---|---|---|---|
| Current Account Plus - Private | ||||
| On all balances | 2.50 | 1.00 | 0.80 | 1.00 |
| Savings Account Plus - Private | ||||
| On all balances | 4.05 | 2.55 | 2.04 | 2.57 |
| Current Account Plus - Private offset | ||||
| On all balances | N/A | 0.10 | 0.08 | 0.10 |
| Savings Account Plus - Private offset | ||||
| On all balances | 4.05 | 2.55 | 2.04 | 2.57 |
| Principal Account | ||||
| On all balances (1% under Base Rate) | 3.50 | 2.00 | 1.60 | 2.02 |
| Premium Current Account | ||||
| up to £5,000 | 2.50 | 1.00 | 0.80 | 1.00 |
| £5,000 and above | 2.50 | 1.00 | 0.80 | 1.00 |
| Savings Account Plus - Premium | ||||
| On all balances | 3.86 | 2.36 | 1.89 | 2.38 |
| Rapid/Flexible Repay - Premium/Private | ||||
| On all balances | 3.50 | 2.00 | 1.60 | 2.02 |
| Debit Interest Rates | Previous % p.a. |
Previous EAR+ |
Current % p.a. |
Current EAR+% |
|---|---|---|---|---|
| Current Account Plus - Private | ||||
| Planned Borrowing | ||||
| Up to £15,000 | 8.99 | 9.37 | 9.24 | 9.64 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing | 15.25 | 16.36 | 15.00 | 16.08 |
| Current Account Plus - Private Offset | ||||
| Planned Borrowing | ||||
| Up to £15,000 | 8.99 | 9.37 | 9.24 | 9.64 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing | 29.25 | 33.51 | 26.52 | 29.99 |
| Principal Account | ||||
| Planned Borrowing | ||||
| Up to £15,000 (2% over Base Rate) | 6.50 | 6.70 | 5.00 | 5.12 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing (10% over Base Rate) | 14.50 | 15.50 | 13.00 | 13.80 |
| Premium Current Account | ||||
| Planned Borrowing | ||||
| Up to £15,000 (3.99% over Base Rate) | 8.49 | 8.83 | 6.99 | 7.22 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing (10% over Base rate) | 14.50 | 15.50 | 13.00 | 13.80 |
Definitions
+EAR (Effective Annual Rate) - the effective annual rate is used to express the cost of borrowing on current accounts. The EAR takes account of the rate of interest charged, the frequency it is levied to accounts and compounding of interest. It does not include overdraft fees.
++AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
*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 lower rate prevailing at the time of payment (presently 20%).
**Net Rate The net rate is the gross rate less tax at the lower rate of 20%. Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from the Inland Revenue.
^To obtain the Preferential Planned Borrowing rate on the Principal Account customers must have their Home Loan (mortgage) with Yorkshire Bank.
Yorkshire Bank is a trading name of Clydesdale Bank PLC which is 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 the circumstances of the claim.
In respect of deposits with a UK office, payments under the Scheme are limited to 100% of the first £50,000 of a depositor's total credit balances with the Bank.
In respect of mortgage advice and arranging covered by the Scheme, with effect from 31 October 2004, claims are limited to 100% of the first £30,000 and 90% of the next £20,000, resulting in a maximum claim of £48,000.
Further details of the Scheme are available from us on request or from the Financial Services Compensation Scheme: www.fscs.org.uk or Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN.
Yorkshire Bank is a trading name of Clydesdale Bank PLC. Registered in Scotland (No. SC001111). Registered Office: 30 St. Vincent Place, Glasgow G1 2HL.
