Private rates
Rates of interest are subject to change but are correct
as at 7th November 2008
Credit Terms
| Credit Interest Rates | Previous Gross * Rate % |
Current Gross * Rate % |
Current Net ** Rate % |
Current AER++ % |
|---|---|---|---|---|
| Current Account - Tracker | ||||
| On all balances ‡ | 3.50 | 2.00 | 1.60 | 2.02 |
| Savings Account - Tracker ‡‡ | ||||
| £0 - £499,999 | 4.25 | 2.75 | 2.20 | 2.78 |
| £500,000 - £999,999 | 4.50 | 3.00 | 2.40 | 3.03 |
| £1,000,000 and over | 4.75 | 3.25 | 2.60 | 3.29 |
| Rapid/Flexible Repay Mortgage | ||||
| On all balances ‡ | 3.50 | 2.00 | 1.60 | 2.02 |
‡ The gross rate of interest payable is 1.0% below the Bank of England base rate and will change within 14 days of the Bank of England base rate change.
‡‡ The gross rate of interest payable on Savings Account Tracker is:
- £0 - £499,999 is 0.25% below Bank of England base rate
- £500,000 - £999,999 is equal to Bank of England base rate
- £1,000,000 and over is 0.25% above Bank of England base rate
This will change within 14 days of the Bank of England base rate change.
Overdraft Terms
| Debit Interest Rates | Previous % p.a. |
Previous EAR+% |
Current % p.a. |
Current EAR+% |
|---|---|---|---|---|
| Current Account - Tracker | ||||
| Planned Borrowing Rate | ||||
| Up to £15,000 (2% over Base Rate) † | 6.50 | 6.70 | 5.00 | 5.12 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing Rate (10% over Base Rate) † | 14.50 | 15.50 | 13.00 | 13.80 |
† These interest rates will change within 14 days of the Bank of England base rate change.
Current Accounts no longer available to new customers
Credit Terms
| Credit Interest Rates | Previous Gross* Rate % | Current Gross* Rate % | Current Net** Rate % | Current AER++ % |
|---|---|---|---|---|
| Current Account Plus - Private | ||||
| On all balances | 2.90 | 2.50 | 2.00 | 2.53 |
| Savings Account Plus - Private | ||||
| On all balances | 4.55 | 4.05 | 3.24 | 4.11 |
| Current Account Plus - Private Offset | ||||
| On all balances | n/a | 0.10 | 0.08 | 0.10 |
| Savings Account Plus - Private Offset | ||||
| On all balances | 4.55 | 4.05 | 3.24 | 4.11 |
| Principal Account | ||||
| On all balances (1% under Base Rate) | 3.50 | 2.00 | 1.60 | 2.02 |
| Premium Current Account | ||||
| up to £5,000 | 2.75 | 2.50 | 2.00 | 2.53 |
| £5,000 and above | 2.90 | 2.50 | 2.00 | 2.53 |
| Savings Account Plus - Premium | ||||
| On all balances | 4.36 | 3.86 | 3.09 | 3.92 |
| Rapid/Flexible Repay - Premium/Private | ||||
| On all balances | 3.50 | 2.00 | 1.60 | 2.02 |
Overdraft Terms
| Debit Interest Rates | Previous % p.a. |
Previous EAR+% |
Current % p.a. |
Current EAR+% |
|---|---|---|---|---|
| Current Account Plus - Private | ||||
| Planned Borrowing Rate | ||||
| Up to £15,000 | 8.99 | 9.37 | 9.24 | 9.64 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing Rate | 15.25 | 16.36 | 15.00 | 16.08 |
| Current Account Plus - Private Offset | ||||
| Planned Borrowing Rate | ||||
| Up to £15,000 | 8.99 | 9.37 | 9.24 | 9.64 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing Rate | 29.25 | 33.51 | 26.52 | 29.99 |
| Principal Account | ||||
| Planned Borrowing Rate | ||||
| Preferential Rate up to £15,000 (1% over Base Rate) ^ | 5.50 | 5.64 | 4.00 | 4.07 |
| Standard Rate up to £15,000 (2% over Base Rate) | 6.50 | 6.70 | 5.00 | 5.12 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing (10% over Base Rate) | 14.50 | 15.50 | 13.00 | 13.80 |
| Premium Current Account | ||||
| Planned Borrowing Rate | ||||
| Up to £15,000 (3.99% over Base Rate) | 8.49 | 8.83 | 6.99 | 7.22 |
| £15,000 and above | Contact your Private Partner | |||
| Unplanned Borrowing (10% over Base rate) | 14.50 | 15.50 | 13.00 | 13.80 |
Definitions
+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.
++AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
*Gross Rate. Gross interest is 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 (presently 20%).
**Net Rate The net rate is the gross rate less tax at the lower rate of 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.
^To obtain the Preferential Planned Borrowing Rate on the Principal Account customers must have their Home Loan (mortgage) with Clydesdale Bank PLC.
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 100% of the first £50,000 of a depositor's total credit balances.
In respect of mortgage advice and arranging covered by the Scheme, with effect from 31 October 2004, claims are limited to 100% of the first £30,000 and 90% of the next £20,000, resulting in a maximum claim of £48,000.
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
