Business interest rates and charges
Our Business Banking interest rates and charges
See Business Credit Card Interest Rates or Business Banking Tariff
| Clydesdale Bank Base Rate | Current % p.a. |
Previous % p.a. |
|---|---|---|
| Effective from Friday 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. For further details you can contact our branches (opens in a new window) 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 July 2009 | 1.175% |
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
Business Deposit Products |
Date Effective From | Current Gross## Rate % |
Current AER* % |
Previous Gross## Rate % |
Previous AER* % |
|---|---|---|---|---|---|
| Business Choice‡ | |||||
| £1 and over | 09/01/09 | 0.00 | 0.00 | 0.00 | 0.00 |
| Business Choice Charities‡ | |||||
| £1 and over | 31/03/2009 | 0.85 | 0.85 | 0.00 | 0.00 |
| Offset Business Current Account¬ | |||||
| £1 and over | 09/01/09 | 0.00 | 0.00 | 0.00 | 0.00 |
| Clubs & Associations/Charities | |||||
| £1 to £2,499 | 31/03/09 | 0.00 | 0.00 | 0.10 | 0.10 |
| £2,500 and over | 31/03/09 | 0.00 | 0.00 | 0.10 | 0.10 |
| Academy Package | |||||
| £1 - £10,000 | 09/01/09 | 0.00 | 0.00 | 0.00 | 0.00 |
| £10,001 - £25,000 | 09/01/09 | 0.00 | 0.00 | 0.00 | 0.00 |
| £25,001 and over | 06/03/09 | 0.00 | 0.00 | 0.50 | 0.50 |
| Cash Management Account | |||||
| £1 - £1,999 | 30/1/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £2,000 - £24,999 | 30/1/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £25,000 - £49,999 | 30/1/09 | 0.10 | 0.10 | 0.40 | 0.40 |
| £50,000 - £99,999 | 30/1/09 | 0.10 | 0.10 | 0.40 | 0.40 |
| £100,000 - £249,999 | 27/02/09 | 0.10 | 0.10 | 0.35 | 0.35 |
| £250,000 - £499,999 | 31/03/09 | 0.10 | 0.10 | 0.15 | 0.15 |
| £500,000 - £999,999 | 31/03/09 | 0.10 | 0.10 | 0.15 | 0.15 |
| £1,000,000 and over | 31/03/09 | 0.10 | 0.10 | 0.20 | 0.20 |
| Offset Business Savings Account¬ | |||||
| £1 - £1,999 | 30/10/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £2,000 - £24,999 | 30/01/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £25,000 - £49,999 | 30/01/09 | 0.10 | 0.10 | 0.40 | 0.40 |
| £50,000 - £99,999 | 30/01/09 | 0.10 | 0.10 | 0.40 | 0.40 |
| £100,000 - £249,999 | 27/02/09 | 0.10 | 0.10 | 0.35 | 0.35 |
| £250,000 - £499,999 | 31/03/09 | 0.10 | 0.10 | 0.15 | 0.15 |
| £500,000 - £999,999 | 31/03/09 | 0.10 | 0.10 | 0.15 | 0.15 |
| £1,000,000 and over | 31/03/09 | 0.10 | 0.10 | 0.20 | 0.20 |
| TeleBank Investment Account† | |||||
| £1 - £1,999 | 30/1/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £2,000 - £24,999 | 30/1/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £25,000 - £49,999 | 30/1/09 | 0.10 | 0.10 | 0.25 | 0.25 |
| £50,000 - £99,999 | 30/1/09 | 0.10 | 0.10 | 0.50 | 0.50 |
| £100,000 - £1,999,999 | 27/02/09 | 0.10 | 0.10 | 0.30 | 0.30 |
| £2,000,000 - £4,999,999 | 31/03/09 | 0.10 | 0.10 | 0.20 | 0.20 |
| £5,000,000 - £9,999,999 | 31/03/09 | 0.10 | 0.10 | 0.50 | 0.50 |
| £10,000,000 and over | 31/03/09 | 0.10 | 0.10 | 0.50 | 0.50 |
| Professional Firms Clients Account | |||||
| £1 and over | 07/02/02 | Negotiable | Negotiable | 3.00 | 3.03 |
| 12 Month Business Term Deposit** | |||||
| £5,000 - £24,999 | 13/05/09 | 1.35 | 1.35 | 1.60 | 1.60 |
| £25,000 - £49,999 | 13/05/09 | 1.35 | 1.35 | 1.60 | 1.60 |
| £50,000 - £99,999 | 13/05/09 | 1.35 | 1.35 | 1.60 | 1.60 |
| £100,000 - £249,999 | 13/05/09 | 1.35 | 1.35 | 1.60 | 1.60 |
| 40 Day Notice Account - Business | |||||
| £1,000,000 and over | 31/03/09 | 0.85 | 0.85 | 1.35 | 1.36 |
| £100,00 - £999,999 | 31/03/09 | 0.60 | 0.60 | 1.10 | 1.10 |
| £0 - £99,999 | 31/03/09 | 0.25 | 0.25 | 0.75 | 0.75 |
Important Information
With the exception of the 12 Month Business Term Deposit, and Clubs & Associations/Charities, rates of interest for these accounts are variable. 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 with the exception of Academy Account and Clubs & Associations/Charities, which are banded. Interest is calculated on a daily basis.
Credit interest is calculated for all the accounts in this notice on a daily basis. For Business Choice Account, Business Choice Charities Account, Clubs & Associations/Charities interest will be credited to accounts monthly in arrears. For Cash Management Account, TeleBank Investment Account and Professional Firms Clients Account interest will be credited to accounts quarterly in arrears. For 12 Month Business Term Deposit interest will be credited to the accounts at Maturity.
##Gross Rate. Gross Rate Interest 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 of payment (currently 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 Clydesdale Bank 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 0.35% above Clydesdale Bank Base Rate.
†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.
**For rates on longer periods for Business Term Deposit please contact your Regional Business Centre or telephone 08457 034567#.
¬ 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 Clydesdale Bank Base Rate. Due to the present level of Bank of England base rate, credit interest is currently not payable on your bank account. Clydesdale Bank Base Rate is presently 0.50% and is variable.
#Calls to this number may be monitored and recorded.
Clydesdale Bank PLC 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 the first £50,000 of a depositor’s total credit balances with the Bank. 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.
Clydesdale Bank PLC 30 St Vincent Place Glasgow G1 2HL Registered in Scotland No: SC001111.