Interest Rates & Charges

Current interest rates

These are the interest rates currently in effect for our accounts and mortgages. Please read these explanatory notes for an explanation of the terms used.

Reference Interest Rate
Current Accounts
Deposit Accounts
Discontinued Products

REFERENCE INTEREST 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.

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CURRENT ACCOUNTS

Corporate Current Account
Balance	AER %	Gross %
On all balances	0.00	0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

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 March 2009.

For more information see the Product Prices PDF

For more information see the Currency Interest Reference Rates PDF

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DEPOSIT ACCOUNTS

Pension Fund Cheque Account: Monthly Interest
Balance	AER %	Gross %
£1,000,000 and above	0.30	0.30
£100,000 to £999,999	0.10	0.10
£50,000 to £99,999	0.10	0.10
Under £50,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Pension Fund Cheque Account: Annual Interest
Balance	AER %	Gross %
£1,000,000 and above	0.30	0.30
£100,000 to £999,999	0.10	0.10
£50,000 to £99,999	0.10	0.10
Under £50,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Trust Accounts
Balance	AER %	Gross %
£10,000 and above	0.10	0.10
Under £10,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Corporate Deposit Currency Account
Currency	Rate %
US Dollar (US Dollar managed rate)	Rates temporarily unavailable
Euro (Euro Managed rate)	Rates temporarily unavailable
Rates temporarily unavailable

The rate for the Euro Currency Account is based on EONIA ( Euro Overnight Index Averaged ) and may change daily.

The rate for the US Dollar Currency Account is based on the US Federal Funds benchmark rate and may change daily

Corporate Deposit Account
For details of your current interest rates, please contact your relationship manager

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DISCONTINUED PRODUCTS

These are the interest rates currently in effect for our discontinued products.

Corporate Instant Access Account
Balance	AER %	Gross %
On all balances	0.50	0.50
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

CORPORATE E-BUSINESS DEPOSIT ACCOUNT
Balance	AER %	Gross %
£100,000 and above	0.10	0.10
£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 March 2009.

For more information see the Product Prices PDF

Corporate Bonus Account: Standard Rate
Balance	AER %	Gross %
£1 and above	0.75	0.75

Corporate Bonus Account: 30 Day Bonus Rate
Balance	AER %	Gross %
£1 and above	0.90	0.90

Corporate Bonus Account: 60 Day Bonus Rate
Balance	AER %	Gross %
£1 and above	1.00	1.00
Rates with effect from 05 March 2009.

For more information see the Product Prices PDF

Corporate Business Bonus Account: Instant Rates
Balance	AER %	Gross %
£100,000 and above	0.10	0.10
£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	0.15	0.15
£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	0.25	0.25
£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 March 2009.

For more information see the Product Prices PDF

Corporate Business Investment Account
Balance	AER %	Gross %
£1,000,000 and above	0.10	0.10
£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 March 2009.

For more information see the Product Prices PDF

Corporate Investment Account
Balance	AER %	Gross %
£10,000,000 and above	0.45	0.45
£5,000,000 to £9,999,999	0.40	0.40
£1,000,000 to £4,999,999	0.30	0.30
£500,000 to £999,999	0.15	0.15
Under £500,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Corporate Investment Reserve Account
Balance	AER %	Gross %
£10,000,000 and above	0.50	0.50
£5,000,000 to £9,999,999	0.45	0.45
£1,000,000 to £4,999,999	0.40	0.40
£500,000 to £999,999	0.25	0.25
Under £500,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Corporate Loyalty Account: Standard Rate
Balance	AER %	Gross %
£10,000,000 and above	0.40	0.40
£5,000,000 to £9,999,999	0.35	0.35
£1,000,000 to £4,999,999	0.25	0.25
Under £1,000,000	0.10	0.10

Corporate Loyalty Account: 30 Day Rate
Balance	AER %	Gross %
£10,000,000 and above	0.55	0.55
£5,000,000 to £9,999,999	0.50	0.50
£1,000,000 to £4,999,999	0.45	0.45
Under £1,000,000	0.20	0.20

Corporate Loyalty Account: 90 Day Rate
Balance	AER %	Gross %
£10,000,000 and above	0.60	0.60
£5,000,000 to £9,999,999	0.55	0.55
£1,000,000 to £4,999,999	0.50	0.50
Under £1,000,000	0.25	0.25
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Corporate 30 day Reserve Account
Balance	AER %	Gross %
£5,000,000 and above	0.55	0.55
£2,500,000 to £4,999,999	0.50	0.50
£1,000,000 to £2,499,999	0.45	0.45
£500,000 to £999,999	0.30	0.30
£100,000 to £499,999	0.15	0.15
Under £100,000	0.10	0.10
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

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 March 2009.

For more information see the Product Prices PDF

Flexible Niche Investment Account
For details of your current interest rates, please contact your relationship manager

Corporate 35 Day Notice Account
Balance	AER %	Gross %
On all balances	1.00	1.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

CORPORATE HOBS INVESTMENT ACCOUNT
Balance	AER %	Gross %
£1,000,000 and above	0.10	0.10
£100,000 to £999,999	0.10	0.10
£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 March 2009.

For more information see the Product Prices PDF

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 March 2009.

For more information see the Product Prices PDF

Corporate Treasury Cheque Account
Balance	AER %	Gross %
£1,000,000 and above	0.10	0.10
£500,000 to £999,999	0.00	0.00
£100,000 to £499,999	0.00	0.00
£50,000 to £99,999	0.00	0.00
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Corporate Premium Deposit Account
Balance	AER %	Gross %
On all balances	0.75	0.75
Rates with effect from 5 March 2009.

For more information see the Product Prices PDF

Loyalty Reward Account
Balance	AER %	Gross %
On all balances	0.85	0.85
The Reward amount is payable on the account. The Reward rate is applied to the average cleared credit balance of the Account on each day on which the Account was open, up to and including 31st December each year Rates with effect from 05 March 2009

For more information see the Product Prices PDF

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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.

Current comparative interest rate information can be found on the British Bankers Association website www.bba.org.uk (opens new window)