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Interest rates
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.
Base Rate
Bank of Scotland announces that with effect from 10th April 2008 its Base Rate has been changed from 5.25% per annum to 5.00% per annum.
Any reference below to base rate, refers to the Bank of Scotland Base Rate.
Current Accounts
Business Current Account
Total Business Account
Currency Accounts
Deposit Accounts
E-Business Deposit Account
Business Bonus Account: Instant Rates
Business Bonus Account : 30 Day Bonus Rate
Business Bonus Account: 90 Day Bonus Rate
Business 30 Day Reserve Account
Guaranteed Fixed Deposit Account
Accounts no longer open to new business
Direct Business Cheque Account
Treasury Cheque Account
Treasurers Account
Business Investment Account
HOBS Account
Business Pension Fund Cheque Account
SME Accounts
Raising Finance
Overdraft
Business Loan
General
Explanatory Notes
Current Accounts
The Business Current Account rates also apply to the Business Banking Offset Current Account when there is no longer a link to the Offset Term Loan.
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Business Current Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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On all balances
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3.04
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3.00
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2.40
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3.30
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3.25
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2.60
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Rates with effect from 10th April 2008
Find out more about a Business Current Account
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Total Business Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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On all balances
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5.38
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5.25
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4.42
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5.64
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5.50
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4.40
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Rates with effect from 10th April 2008
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Currency Accounts
| Currency Accounts |
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Credit Interest payable on the BOS currency account is calculated by reference to the London Inter Bank Bid Rate (LIBID). LIBID may differ depending on the currency of the account, as it is influenced by each currencies' individual national Central Bank interest rate. Credit Interest may not be payable where the LIBID rate falls below the Bank of Scotland interest rate. All interest rates are subject to change.
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US Dollar (USD) - US ($)
Current rates with effect from 12th May 2008
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Balance ($)
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Gross Rate p.a. %
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Net Rate p.a. %
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AER %
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0-40,000
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0.2500
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0.2000
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0.25
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40,000.01 to 75,000
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0.3750
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0.3000
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0.38
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75,000.01 to 150,000
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1.3750
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1.1000
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1.40
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150,000.01 to 450,000
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1.6250
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1.3000
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1.66
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450,000.01 to 750,000
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1.8750
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1.5000
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1.92
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750,000 to 1,500,000
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2.1250
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1.7000
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2.18
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Over 1,500,000
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2.2750
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1.8200
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2.33
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Euro (EUR) - (€)
Current rates with effect from 12th May 2008
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Balance (€)
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Gross Rate p.a. %
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Net Rate p.a. %
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AER %
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0-45,000
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0.7500
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0.6000
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0.76
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45,000.01 to 85,000
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1.7500
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1.4000
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1.79
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85,000.01 to 175,000
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2.7500
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2.2000
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2.82
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175,000.01 to 525,000
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3.0000
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2.4000
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3.08
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525,000.01 to 875,000
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3.2500
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2.6000
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3.35
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875,000 to 1,750,000
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3.5000
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2.8000
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3.61
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Over 1,750,000
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3.6500
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2.9200
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3.76
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A minimum interest rate of 0.25% applies to US Dollar and Euro accounts.
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.
AER - AER stands for Annual Equivalent Rate and shows what the interest rate would be if paid and compounded annually.
Gross Rate - The gross rate is the rate of interest payable before deduction of income tax at the rate specified by law.
Net Rate - Interest will be paid net (this means after we have deducted income tax, currently 20%) unless you have completed a registration form or made a declaration to comply with Inland Revenue regulations. The net rates shown assume income tax has been taken off. You may be able to claim income tax back if the amount of tax we have taken off is more than you have to pay.
Bank of Scotland Reference Rates - Euro 3.75% (effective from 12th May 2008) and US Dollar 2.375% (effective from 12th May 2008).
Rates
Find out more about Currency Accounts
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Deposit Accounts
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E-Business Deposit Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %h
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AER %
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Gross %
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Net %
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£100,000 and above
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3.87
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3.80
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3.04
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4.13
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4.05
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3.24
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£50,000 to £99,999
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3.20
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3.15
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2.52
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3.45
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3.40
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2.72
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£25,000 to £49,999
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3.20
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3.15
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2.52
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3.45
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3.40
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2.72
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£10,000 to £24,999
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2.94
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2.90
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2.32
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3.20
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3.15
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2.52
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£5,000 to £9,999
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2.68
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2.65
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2.12
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2.94
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2.90
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2.32
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£2,500 to £4,999
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2.68
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2.65
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2.12
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2.94
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2.90
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2.32
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Under £2,500
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2.43
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2.40
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1.92
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2.68
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2.65
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2.12
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Rates with effect from 10th April 2008
Find out more about an E-Business Deposit Account
top^
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Business Bonus Account: Instant Rates
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£100,000 and above
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2.94
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2.90
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2.32
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3.20
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3.15
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2.52
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£50,000 to £99,999
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2.68
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2.65
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2.12
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2.94
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2.90
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2.32
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£25,000 to £49,999
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2.68
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2.65
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2.12
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2.94
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2.90
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2.32
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£10,000 to £24 ,999
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2.53
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2.50
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2.00
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2.78
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2.75
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2.20
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£2,500 to £9,999
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2.32
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2.30
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1.84
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2.58
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2.55
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2.04
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Under £2,500
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2.32
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2.30
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1.84
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2.58
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2.55
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2.04
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Rates with effect from 10th April 2008
Find out more about a Business Bonus Account
top^
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Business Bonus Account: 30 Day Bonus Rate
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£100,000 and above
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3.04
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3.00
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2.40
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3.30
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3.25
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2.60
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£50,000 to £99,999
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2.78
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2.75
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2.20
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3.04
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3.00
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2.40
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£25,000 to £49,999
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2.78
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2.75
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2.20
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3.04
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3.00
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2.40
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£10,000 to £24,999
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2.63
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2.60
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2.08
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2.89
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2.85
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2.28
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£2,500 to £9,999
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2.43
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2.40
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1.92
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2.68
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2.65
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2.12
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Under £2,500
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2.43
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2.40
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1.92
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2.68
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2.65
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2.12
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Rates with effect from 10th April 2008
Find out more about a Business Bonus Account
top^
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Business Bonus Account: 90 Day Bonus Rate
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£100,000 and above
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3.45
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3.40
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2.72
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3.71
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3.65
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2.92
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£50,000 to £99,999
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3.20
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3.15
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2.52
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3.45
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3.40
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2.72
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£25,000 to £49,999
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3.20
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3.15
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2.52
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3.45
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3.40
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2.72
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£10,000 to £24,999
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3.04
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3.00
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2.40
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3.30
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3.25
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2.60
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£2,500 to £9,999
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2.84
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2.80
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2.24
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3.09
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3.05
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2.44
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Under £2,500
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2.84
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2.80
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2.24
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3.09
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3.05
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2.44
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Rates with effect from 10th April 2008
Find out more about a Business Bonus Account
top^
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Business 30 Day Reserve Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£5,000,000 and above
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4.44
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4.35
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3.48
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4.70
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4.60
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3.68
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£1,000,000 to £4,999,999
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4.33
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4.25
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3.40
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4.59
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4.50
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3.60
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£500,000 to £999,999
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4.23
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4.15
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3.32
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4.49
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4.40
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3.52
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£250,000 to £499,999
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4.07
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4.00
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3.20
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4.33
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4.25
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3.40
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£100,000 to £249,999
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3.87
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3.80
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3.04
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4.13
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4.05
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3.24
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£50,000 to £99,999
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3.45
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3.40
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2.72
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3.17
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3.65
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2.92
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Rates with effect from 10th April 2008
Find out more about a Business 30 Day Reserve Account
top^
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Guaranteed Fixed Deposit Account
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Gross %
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Balance
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1 month
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3 months
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6 months
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12 months
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£1,000,000 and above
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4.84
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5.18
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5.19
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5.22
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£500,000 to £999,999
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4.64
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4.98
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4.99
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5.02
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£250,000 to £499,999
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4.54
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4.88
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4.89
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4.92
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£100,000 to £249,999
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4.34
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4.68
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4.69
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4.72
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£50,000 to £99,999
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3.84
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4.18
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4.19
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4.22
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Rates for new customers with effect from 12th May 2008. Existing customers please contact your Relationship Manager for details on your specific rates.
Find out more about a Guaranteed Fixed Deposit Account
top^
Accounts no longer open to new customers
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Direct Business Cheque Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£100,000 and above
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2.53
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2.50
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2.00
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2.78
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2.75
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2.20
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£50,000 to £99,999
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2.02
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2.00
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1.60
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2.27
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2.25
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1.80
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£25,000 to £49,999
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1.51
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1.50
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1.20
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1.76
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1.75
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1.40
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£5,000 to £24,999
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0.75
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0.75
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0.60
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1.00
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1.00
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0.80
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Under £5,000
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0.10
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0.10
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0.08
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0.10
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0.10
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0.08
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Rates with effect from 10th April 2008
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Treasury Cheque Account
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Current Rates
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Previous rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£1,000,000 and above
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4.54
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4.45
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3.56
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4.80
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4.70
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3.76
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£500,000 to £999,999
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4.33
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4.25
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3.40
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4.59
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4.50
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3.60
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£100,000 to £499,999
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3.82
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3.75
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3.00
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4.07
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4.00
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3.20
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£50,000 to £99,999
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1.26
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1.25
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1.00
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1.51
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1.50
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1.20
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Rates with effect from 10th April 2008
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Treasurers Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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Gross %
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Net %
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£2,500 and above
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0.85
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0.85
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0.68
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1.11
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1.10
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0.88
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Under £2,500
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0.35
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0.35
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0.28
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0.60
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0.60
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0.48
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Rates with effect from 10th April 2008
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Business Investment Account
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Current Rates
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Previous Rates
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Balance
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AER %
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Gross %
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Net %
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AER %
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