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Rates of interest are subject to change but are correct as at 1st February 2011
View Table of Charges for our current accounts.
View Unplanned Borrowing Scenarios for our current accounts.
View Frequently Asked Questions for our current accounts.
| Credit Interest Rates | Previous Gross* Rate (%) |
Current Gross* Rate (%) |
Net** Rate (%) |
Current AER++ (%) |
|---|---|---|---|---|
Signature Current Account |
||||
| £1 and over |
0.20
|
0.00
|
0.00
|
0.00
|
| Credit interest is calculated on the cleared credit balance on a daily basis and credited to accounts on the last business day of each month. A monthly maintenance fee of £13.50 applies to this account whether the account is in credit or overdrawn. The monthly maintenance fee will be notified to you at the end of each calendar month, giving you at least 14 days notice before it is applied to your Account. |
||||
Signature Savings Account |
||||
| £100,000 and over |
1.50
|
0.75
|
0.60
|
0.75
|
| £50,000 - £99,999 |
1.30
|
0.55
|
0.44
|
0.55
|
| £25,000 - £49,999 |
1.10
|
0.35
|
0.28
|
0.35
|
| £0 - £24,999 |
1.00
|
0.25
|
0.20
|
0.25
|
| You may only open a Signature Savings Account if you have a Signature Current Account with us in the same name(s). The Signature Savings Account will remain open, provided the Signature Current Account is maintained as described in the Terms and Conditions. Interest is calculated on the cleared credit balance on a daily basis and is applied in arrears on the last business day of each calendar quarter. |
||||
Current Account Plus |
||||
| £1 and over |
0.10
|
0.00
|
0.00
|
0.00
|
| There is no charge for operating your Current Account Plus if you stay in credit. Credit interest is calculated on a daily basis and credited to accounts on the last Business Day of each month. |
||||
Savings Account Plus |
||||
| On all credit balances |
0.50
|
0.10
|
0.08
|
0.10
|
| You may only open a Savings Account Plus if you have a Current Account Plus with us in the same name(s). The Savings Account Plus will remain open, provided the Current Account Plus is maintained as described in the Terms and Conditions. Credit interest is calculated on a daily basis and credited quarterly in arrears. |
||||
Current Account Control |
||||
| On all balances |
0.00
|
0.00
|
0.00
|
0.00
|
| Credit interest is calculated on a daily basis and credited to accounts on the last Business Day of each month. | ||||
Savings Account Plus-Offset (Off Sale Product) |
||||
| £1 and over |
0.50
|
0.10
|
0.08
|
0.10
|
| You may only open a Savings Account Plus-Offset if you have an Offset Mortgage. Credit interest is calculated on a daily basis and credited to the account in arrears on the last business day of each calendar quarter. |
||||
Student Current Account |
||||
| £1 and over |
0.20
|
0.00
|
0.00
|
0.00
|
| Credit interest is calculated on a daily basis and credited to accounts on the last Business Day of each month. | ||||
Rapid Repay/Flexible Repay (Off Sale Product) |
||||
| On all balances |
0.10
|
0.00
|
0.00
|
0.00
|
| The account is operated free of charge if it remains in credit or within agreed overdraft limit (subject to the payment of the appropriate amount of debit interest) for the whole month. | ||||
Readycash Account |
||||
| This account offers no credit interest. | ||||
| Debit Interest Rates | Previous % per month |
Previous % p.a. |
Previous EAR† % |
Current % per month |
Current % p.a. |
Current EAR† % |
|---|---|---|---|---|---|---|
Signature Current Account |
||||||
| Planned Borrowing |
0.87
|
10.44
|
10.95
|
0.99
|
11.84
|
12.50
|
| Unplanned Borrowing |
n/a
|
n/a
|
n/a
|
2.21
|
26.52
|
29.99
|
Current Account Plus |
||||||
| Planned Borrowing |
1.31
|
15.76
|
16.95
|
1.45
|
17.39
|
18.85
|
| Unplanned Borrowing |
2.44
|
29.95
|
33.51
|
2.21
|
26.52
|
29.99
|
| Debit interest is calculated on a daily basis and debited monthly in arrears. | ||||||
Current Account Control |
||||||
| Planned Borrowing | 0.00 | 0.00 | 0.00 |
1.45
|
17.39
|
18.85
|
| Unplanned Borrowing | 0.00 | 0.00 | 0.00 |
1.45
|
17.39
|
18.85
|
| Debit interest is calculated on a daily basis and debited monthly in arrears. | ||||||
Student Account |
||||||
| Planned Borrowing |
0.58
|
6.99
|
7.22
|
0.60
|
7.24
|
7.49
|
| Unplanned Borrowing |
2.44
|
29.25
|
33.51
|
2.21
|
26.52
|
29.99
|
| Debit interest is calculated on a daily basis and debited monthly in arrears. | ||||||
Readycash |
||||||
| There is no overdraft facility on this account. | ||||||
| Current Account Mortgages withdrawn from sale 19 November 2012 | ||||||
| Mortgage | Loan to value | Current rate | Overall cost for comparison | |||
| Flexible repay (interest only) | 60% | 3.79% | 4.0% APR | |||
| Flexible repay (interest only) | 75% | 3.99% | 4.2% APR | |||
| Rapid repay (capital and interest) | 60% | 3.79% | 4.0% APR | |||
| Rapid repay (capital and interest) | 75% | 3.99% | 4.2% APR | |||
| All our Current Account Mortgages include an unplanned borrowing rate which is 2% above your Mortgage Rate. | ||||||
| Current Account Mortgages withdrawn from sale 7 November 2008 | ||||||
| Mortgage | Previous rate (variable) | Current rate (variable) | Current overall cost for comparison | |||
| Rapid repay (capital and interest) | 2.74% | 2.24% | 2.4% APR | |||
| Flexible repay (interest only) | 2.74% | 2.24% | 2.4% APR | |||
| All our Current Account Mortgages include an unplanned borrowing rate which is 2% above your Mortgage Rate. | ||||||
Definitions
*Gross Rate. Gross Rate interest is interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (currently 20%).
**Net Rate. Net Rate is the Gross Rate less income tax at the basic rate (currently 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 HM Revenue & Customs. Higher rate taxpayers may be liable to additional taxation according to their individual circumstances.
++AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
†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 and is variable.
We are covered by 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.
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.
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