Important Info HOME

Current Interest Rates

These are the interest rates currently in effect for our business accounts and mortgages. Please read these explanatory notes for an explanation of the terms used.

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.

Any reference below to base rate, refers to the Bank of England Base Rate.

Current Accounts

Business Account
Currency Accounts

Deposit Accounts

Business Instant Access
Business 30 Day Notice

Accounts not available to new customers

Business Current Account
E-Business Deposit Account
Business 30 Day Reserve Account
Business Bonus Account : 30 Day Bonus Rate
Business Bonus Account: 90 Day Bonus Rate
Business Bonus Account : Instant Rates
Business Investment Account
Business Pension Fund Cheque Account
Direct Business Cheque Account
HOBS Account
SME Accounts
Total Business Account (1, 2, 3 and 4)
Treasury Cheque Account
Treasurers Account

Raising Finance

Overdraft
Business Loan

General

Explanatory Notes

Current Accounts

Business Account
No interest is paid on credit balances in your Business Account, if you open the account as a start-up business. You can check if you were a start-up business or a switcher when you opened your Business Account by calling us or checking your regular statements for the account.
	Current Rates
Balance	AER %	Gross %
On all balances	0.00	0.00

Rates with effect from 28th April 2010

For information on the link to reference rate see the Product Prices PDF [17KB]

Find out more about a Business Account

Currency Accounts

Currency Interest Reference Rates

For information on the Currency Interest Reference Rates see the Currency Rates PDF [11KB]

The reference rates quoted are set on Thursday for value the next Monday.

Interest is paid monthly on Currency Accounts. If you wish to have details about the interest rates paid on other major currencies, please contact us on 0870 850 0871.

Find out more about Currency Accounts

Deposit Accounts

Business Instant Access
	Current Rates
Balance	AER%	Gross %
£1,000,000 and above	0.05	0.05
£250,000 to £999,999	0.05	0.05
£100,000 to £249,999	0.05	0.05
£50,000 to £99,999	0.05	0.05
Under £50,000	0.05	0.05

Rate effective from 13th April 2010. This product is not linked to the Reference Rate. In line with the product Terms and Conditions customers will be contacted should the rate on this product change.

Find out more about a Business Instant Access Account

Business 30 Day Notice
	Current Rates
Balance	AER%	Gross %
£1,000,000 and above	0.05	0.05
£250,000 to £999,999	0.05	0.05
£50,000 to £249,999	0.05	0.05
£10,000 to £49,999	0.05	0.05
Under £10,000	0.05	0.05

Rate effective from 13th April 2010. This product is not linked to the Reference Rate. In line with the product Terms and Conditions customers will be contacted should the rate on this product change.

Find out more about a Business 30 Day Notice Account

Accounts not available to new customers

Business Current Account
	Current Rates
Balance	AER %	Gross %
On all balances	0.00	0.00

Rates with effect from 5th March 2009

For information on the link to reference rate see the Product Prices PDF [17KB]

E-Business Deposit Account
	Current 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
£5,000 to £9,999	0.10	0.10
£2,500 to £4,999	0.10	0.10
Under £2,500	0.10	0.10

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business 30 Day Reserve Account
	Current Rates
Balance	AER %	Gross %
£5,000,000 and above	0.10	0.10
£1,000,000 to £4,999,999	0.10	0.10
£500,000 to £999,999	0.10	0.10
£250,000 to £499,999	0.10	0.10
£100,000 to £249,999	0.10	0.10
£50,000 to £99,999	0.10	0.10

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business Bonus Account: Instant Rates
	Current 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

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business Bonus Account: 30 Day Rates
	Current Rates
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

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business Bonus Account: 90 Day Rates
	Current Rates
Balance	AER %	Gross %
£100,000 and above	0.20	0.20
£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 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business Investment Account
	Current 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
£0 to £24,999	0.10	0.10

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Business Pension Fund Cheque Account
	Current Rates
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 5th March 2009 .
For information on the link to reference rate see the Product Prices PDF [17KB]

Direct Business Cheque Account
	Current Rates
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 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Direct Business Cheque Account Classic
	Current Rates
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 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

HOBS Account
	Current Rates
Balance	AER %	Gross %
£1,000,000 and above	0.10	0.10
£100,000 to £999,999	0.10	0.10
£50,000 to £99,999	0.10	0.10
£25,000 to £49,999	0.10	0.10
Under £25,000	0.10	0.10

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Total Business Account 1
	Current Rates %
First 12 months from account opening	0.75
After 12 months from account opening	0.00

For information on the link to reference rate see the Product Prices PDF [17KB]

Total Business Account 2
	Current Rates %
First 12 months from account opening	0.75
Between 12 and 36 months from account opening	0.50
After 36 months from account opening	0.00

For information on the link to reference rate see the Product Prices PDF [17KB]

Total Business Account 3
(Opened before 19/01/09)	Current Rates %
First 12 months from account opening	0.75
After 12 months from account opening	0.00

For information on the link to reference rate see the Product Prices PDF [17KB]

Total Business Account 4
Current Rates
For details of your current interest rates, please contact your relationship manager

For information on the link to reference rate see the Product Prices PDF [17KB]

Treasury Cheque Account
	Current Rates
Balance	AER %	Gross %
£1,000,000 and above	0.00	0.00
£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 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Treasurers Account
	Current Rates
Balance	AER %	Gross %
£2,500 and above	0.00	0.00
Under £2,500	0.00	0.00

Rates with effect from 5th March 2009
For information on the link to reference rate see the Product Prices PDF [17KB]

Raising Finance

Overdraft - Variable rate of interest
The interest rate on a Direct Business Cheque Account, Business Account or Business Current Account overdraft is negotiable if arranged and is linked to Bank of England Base Rate. If it is not prearranged, the rate is 22.5% over Bank of Scotland Base Rate.

Find out more about an Overdraft

Business Loan - Interest
Interest rates can be fixed at the outset so they remain constant throughout the period of the loan. Alternatively, you can have a Fluctuating Rate Loan where changes in the Bank of England Base Rate affect the rate on the loan. Other options are available which we will be happy to discuss with you.

Find out more about a Business Loan

Interest only or repayment
You can have the traditional repayment system, where capital is paid back throughout the life of the loan. Or you can go for interest-only, although you will need to set up a parallel investment that can pay off the capital at the end of the loan period.

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:

incorporated bodies such as limited companies, pension funds, charities, churches, societies. Associations, clubs

individuals not ordinarily resident in the UK who have completed the necessary Inland Revenue declaration

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 Direct 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 Banking Direct 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).