Interest Rates & Charges
Past interest rates
These were the interest rates previously in effect for our 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 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.
CURRENT ACCOUNTS
Corporate Current Account
| Balance |
AER % |
Gross % |
| On all balances |
0.00 |
0.00 |
| Rates with effect from 5 February 2009. |
For more information see the Corporate Current Account product page or
Corporate Current Account calculator.
Not For Profit Current Account
| Balance |
AER % |
Gross % |
| £250,000 and above |
0.00 |
0.00 |
| £100,000 to £249,999 |
0.00 |
0.00 |
| £50,000 to £99,999 |
0.00 |
0.00 |
| £10,000 to £49,999 |
0.00 |
0.00 |
| Under £10,000 |
0.00 |
0.00 |
| Rates with effect from 5 February 2009. |
For more information see the Not for Profit Current Account product page.
DEPOSIT ACCOUNTS
Pension Fund Cheque Account
| Balance |
AER % |
Gross % |
| £1,000,000 and above |
0.80 |
0.80 |
| £100,000 to £999,999 |
0.60 |
0.60 |
| £50,000 to £99,999 |
0.50 |
0.50 |
| Under £50,000 |
0.10 |
0.10 |
| Rates with effect from 5 February 2009. |
For more information see the Pension Fund Cheque Account product page.
Trust Accounts
| Balance |
AER % |
Gross % |
| £10,000 and above |
0.38 |
0.38 |
| Under £10,000 |
0.10 |
0.10 |
| Rates with effect from 5 February 2009. |
DISCONTINUED PRODUCTS
These are the interest rates currently in effect for our discontinued products.
Corporate Bonus Account: Standard Rate
| Balance |
AER % |
Gross % |
| £1 and above |
1.26 |
1.25 |
Corporate Bonus Account: 30 Day Bonus Rate
| Balance |
AER % |
Gross % |
| £1 and above |
1.41 |
1.40 |
Corporate Bonus Account: 60 Day Bonus Rate
| Balance |
AER % |
Gross % |
| £1 and above |
1.51 |
1.50 |
| Rates with effect from 05 February 2009. |
CORPORATE E-BUSINESS DEPOSIT ACCOUNT
| Balance |
AER % |
Gross % |
| £100,000 and above |
0.50 |
0.50 |
| £50,000 to £99,999 |
0.10 |
0.10 |
| £25,000 to £49,999 |
0.10 |
0.10 |
| £5,000 to £24,999 |
0.10 |
0.10 |
| Under £5,000 |
0.10 |
0.10 |
| Rates with effect from 5 February 2009. |
Corporate Business Bonus Account: Instant Rates
| Balance |
AER % |
Gross % |
| £100,000 and above |
0.45 |
0.45 |
| £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 |
Corporate Business Bonus Account: 30 Day Bonus Rate
| Balance |
AER % |
Gross % |
| £100,000 and above |
0.60 |
0.60 |
| £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 |
Corporate Business Bonus Account: 90 Day Bonus Rate
| Balance |
AER % |
Gross % |
| £100,000 and above |
0.75 |
0.75 |
| £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 5 February 2009. |
Corporate Business Investment Account
| Balance |
AER % |
Gross % |
| £1,000,000 and above |
0.15 |
0.15 |
| £500,000 to £999,999 |
0.10 |
0.10 |
| £100,000 to £499,999 |
0.10 |
0.10 |
| £25,000 to £99,999 |
0.10 |
0.10 |
| Under £25,000 |
0.10 |
0.10 |
| Rates with effect from 5 February 2009. |
Corporate Investment Account
| Balance |
AER % |
Gross % |
| £10,000,000 and above |
0.95 |
0.95 |
| £5,000,000 to £9,999,999 |
0.90 |
0.90 |
| £1,000,000 to £4,999,999 |
0.80 |
0.80 |
| £500,000 to £999,999 |
0.65 |
0.65 |
| Under £500,000 |
0.40 |
0.40 |
| Rates with effect from 5 February 2009. |
Corporate Investment Reserve Account
| Balance |
AER % |
Gross % |
| £10,000,000 and above |
1.00 |
1.00 |
| £5,000,000 to £9,999,999 |
0.95 |
0.95 |
| £1,000,000 to £4,999,999 |
0.90 |
0.90 |
| £500,000 to £999,999 |
0.75 |
0.75 |
| Under £500,000 |
0.50 |
0.50 |
| Rates with effect from 5 February 2009. |
Corporate Loyalty Account: Standard Rate
| Balance |
AER % |
Gross % |
| £10,000,000 and above |
0.90 |
0.90 |
| £5,000,000 to £9,999,999 |
0.85 |
0.85 |
| £1,000,000 to £4,999,999 |
0.75 |
0.75 |
| Under £1,000,000 |
0.35 |
0.35 |
Corporate Loyalty Account: 30 Day Rate
| Balance |
AER % |
Gross % |
| £10,000,000 and above |
1.06 |
1.05 |
| £5,000,000 to £9,999,999 |
1.00 |
1.00 |
| £1,000,000 to £4,999,999 |
0.95 |
0.95 |
| Under £1,000,000 |
0.70 |
0.70 |
Corporate Loyalty Account: 90 Day Rate
| Balance |
AER % |
Gross % |
| £10,000,000 and above |
1.11 |
1.10 |
| £5,000,000 to £9,999,999 |
1.06 |
1.05 |
| £1,000,000 to £4,999,999 |
1.00 |
1.00 |
| Under £1,000,000 |
0.75 |
0.75 |
| Rates with effect from 5 February 2009. |
Corporate 30 day Reserve Account
| Balance |
AER % |
Gross % |
| £5,000,000 and above |
1.06 |
1.05 |
| £2,500,000 to £4,999,999 |
1.00 |
1.00 |
| £1,000,000 to £2,499,999 |
0.95 |
0.95 |
| £500,000 to £999,999 |
0.80 |
0.80 |
| £100,000 to £499,999 |
0.65 |
0.65 |
| Under £100,000 |
0.10 |
0.10 |
| Rates with effect from 5 February 2009. |
Direct Corporate Cheque Account
| 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 5 February 2009. |
CORPORATE HOBS INVESTMENT ACCOUNT
| Balance |
AER % |
Gross % |
| £1,000,000 and above |
0.40 |
0.40 |
| £100,000 to £999,999 |
0.15 |
0.15 |
| £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 5 February 2009. |
Corporate Treasurers Account
| Balance |
AER % |
Gross % |
| £2,500 and above |
0.00 |
0.00 |
| Under £2,500 |
0.00 |
0.00 |
| Rates with effect from 5 February 2009. |
Corporate Treasury Cheque Account
| Balance |
AER % |
Gross % |
| £1,000,000 and above |
0.60 |
0.60 |
| £500,000 to £999,999 |
0.40 |
0.40 |
| £100,000 to £499,999 |
0.00 |
0.00 |
| £50,000 to £99,999 |
0.00 |
0.00 |
| Rates with effect from 5 February 2009. |
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 Corporate 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 Corporate Customer Services will give further information on this facility.
