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 3rd August 2018 |
0.75
|
0.50
|
| Bank of England base rate | Current % p.a. |
Previous % p.a. |
|---|---|---|
| Changed on 2nd August 2018, Effective from 3rd August 2018 |
0.75
|
0.50
|
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 or Bank of England base rate (official bank rate). For further details you can contact our branches 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 ICE Sterling LIBOR rate (rounded down to three decimal places)
| Effective from Monday 1st July 2019 |
0.779%
|
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 ICE 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.
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
|
| Offset Business Current Account¬ | |||||
| £1 and over |
09/01/09
|
0.00
|
0.00
|
0.00
|
0.00
|
| Clubs & Associations/Charities | |||||
| £1 and over |
31/03/09
|
0.00
|
0.00
|
0.10
|
0.10
|
| Academy Current Account (Please note this account is no longer on sale) | |||||
| £1 - £10,000 (2.75% below base rate) |
09/01/09
|
0.00
|
0.00
|
0.00
|
0.00
|
| £10,001 - £25,000 (1.75% below base rate) |
09/01/09
|
0.00
|
0.00
|
0.00
|
0.00
|
| £25,001 and over (0.50% below base rate) |
03/08/18
|
0.25
|
0.25
|
0.00
|
0.00
|
| Cash Management Account | |||||
| £1,000,000 and over |
31/08/2018
|
0.25
|
0.25
|
0.15
|
0.15
|
| £500,000-£999,999 |
31/08/2018
|
0.25
|
0.25
|
0.15
|
0.15
|
| £250,000-£499,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £100,000-£249,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £50,000-£99,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £25,000-£49,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £2000-£24,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £1-£1,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| Offset Business Savings Account | |||||
| £1,000,000 and over |
31/08/2018
|
0.25
|
0.25
|
0.15
|
0.15
|
| £500,000-£999,999 |
31/08/2018
|
0.25
|
0.25
|
0.15
|
0.15
|
| £250,000-£499,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £100,000-£249,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £50,000-£99,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £25,000-£49,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £2000-£24,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| £1-£1,999 |
31/08/2018
|
0.20
|
0.20
|
0.10
|
0.10
|
| 30 Days Business Term Deposit** | |||||
| £5,000 and over | 09/04/2018 | 0.35 | 0.35 | 0.10 | 0.10 |
| 3 Month Business Term Deposit** | |||||
| £5,000 and over |
09/04/2018
|
0.35 | 0.35 | 0.10 | 0.10 |
| 4 Month Business Term Deposit** | |||||
| £5,000 and over |
09/04/2018
|
0.35 | 0.35 | 0.10 | 0.10 |
| 6 Month Business Term Deposit** | |||||
| £5,000 and over |
07/01/2019
|
1.25 | 1.25 | 0.80 | 0.80 |
| 12 Month Business Term Deposit** | |||||
| £5,000 and over |
07/01/2019
|
1.40
|
1.40
|
1.20
|
1.20
|
| 24 Month Business Term Deposit** | |||||
| £5,000 and over | 09/04/2018 | 1.50 | 1.50 | 1.00 | 1.00 |
Business deposit products |
Date effective from | ||
|---|---|---|---|
| 15 Day Notice Business Account | |||
| £1,000,000 and over |
31/08/2018
|
|
|
| £100,000 - £999,999 |
31/08/2018
|
|
|
| £0 - £99,999 |
31/08/2018
|
|
|
| 30 Day Notice Business Account | |||
| £1,000,000 and over |
31/08/2018
|
|
|
| £100,000 - £999,999 |
31/08/2018
|
|
|
| £0 - £99,999 |
31/08/2018
|
|
|
| 65 Day Notice Business Account | |||
| £1,000,000 and over |
15/07/2019
|
|
|
| £100,000 - £999,999 |
15/07/2019
|
|
|
| £0 - £99,999 |
15/07/2019
|
|
|
| 95 Day Notice Business Account | |||
| £1,000,000 and over |
31/08/2018 |
|
|
| £100,000 - £999,999 |
31/08/2018
|
|
|
| £0 - £99,999 |
31/08/2018
|
|
|
| 120 Day Notice Business Account | |||
| £0 and over |
28/11/2018 |
|
|
For details of interest rates on corporate notice products – please contact your relationship manager.
Business deposit products |
Date effective from | ||
|---|---|---|---|
| BBS Scheme Account (This account is only available to Business Banking Switching Scheme customers.) |
|||
| £1 and over |
25/02/2019 |
|
|
Business term deposits – available to maturing customers only
| Business deposit products | Date effective from |
Current gross## rate % |
Current AER* % |
Previous gross## rate % |
Previous AER* % |
|---|---|---|---|---|---|
| 18 Month Business Term Deposit** | |||||
| £5,000 and over | 07/01/2019 | 1.45 | 1.45 | 1.30 | 1.30 |
Important information
Please refer to your terms & conditions for how interest is applied.
Interest for 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 business term deposits during the fixed term of the deposit. All business accounts in this notice have tiered interest.
Credit interest is calculated for all the accounts in this notice on a daily basis. For Business Choice Account, Offset Business Current Account, Academy and Clubs & Associations/Charities interest will be credited to accounts monthly in arrears. For Cash Management Account, Offset Business Savings Account and Professional Firms Clients Account interest will be credited to accounts quarterly in arrears. For business term deposits interest will be credited to the accounts at Maturity, or in the case of the 24 Month Business Term Deposit, annually and at maturity.
##Gross Rate. Gross rate interest is the interest payable without taking account of any tax payable. We no longer deduct tax from the interest earned on your savings, following the introduction of a Personal Savings Allowance. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Government website www.gov.uk.
*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 Bank of England base rate. Due to the present level of Bank of England base rate, credit interest is currently not payable on your bank account.
**For rates on longer periods for business term deposit please contact your Regional Business Centre or telephone 0800 756 0800#.
¬ 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 Bank of England base rate. Due to the present level of Bank of England base rate, credit interest is currently not payable on your bank account.
#Calls to this number may be monitored and recorded.
Financial Services Compensation Scheme
Important information about compensation arrangements.
Your eligible deposits with Clydesdale Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Clydesdale Bank, Yorkshire Bank and B. Any total deposits you hold above the limit between these brands are unlikely to be covered. Please see FSCS leaflet for further information or visit www.fscs.org.uk.
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.