Commercial account interest rates
Business Reserve Account
|
Previous |
New |
| Gross rate pa |
AER |
Gross rate pa |
AER |
| £1m+ |
0.20% |
0.20% |
0.20% |
0.20% |
| £500,000-£999,999 |
0.20% |
0.20% |
0.10% |
0.10% |
| £250,000-£499,999 |
0.20% |
0.20% |
0.10% |
0.10% |
| £1-£249,999 |
0.10% |
0.10% |
0.10% |
0.10% |
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Clients' Reserve Account
|
Previous |
New |
| Gross rate pa |
AER |
Gross rate pa |
AER |
| £1m+ |
0.20% |
0.20% |
0.20 |
0.20% |
| £500,000-£999,999 |
0.20% |
0.20% |
0.10% |
0.10% |
| £250,000-£499,999 |
0.20% |
0.20% |
0.10% |
0.10% |
| £1-£249,999 |
0.10% |
0.10% |
0.10% |
0.10% |
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30 Day Notice Account
|
Previous |
New |
| Gross rate pa |
AER |
Gross rate pa |
AER |
| £1m+ |
- |
- |
0.88% |
0.88% |
| £500,000-£999,999 |
- |
- |
0.75% |
0.75% |
| £250,000-£499,999 |
- |
- |
0.63% |
0.63% |
| £1-£249,999 |
- |
- |
0.50% |
0.50% |
- 30 days' notice is required for each withdrawal. If notice is not given, an interest penalty of 30 days on the amount withdrawn, calculated at the interest rate applicable to your account on the day of withdrawal, will be applied.
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60 Day Notice Account
|
Previous |
New |
| Gross rate pa |
AER |
Gross rate pa |
AER |
| £1m+ |
- |
- |
1.00% |
1.00% |
| £500,000-£999,999 |
- |
- |
0.88% |
0.88% |
| £250,000-£499,999 |
- |
- |
0.75% |
0.75% |
| £1-£249,999 |
- |
- |
0.63% |
0.63% |
- 60 days' notice is required for each withdrawal. If notice is not given, an interest penalty of 60 days on the amount withdrawn, calculated at the interest rate applicable to your account on the day of withdrawal, will be applied.
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90 Day Notice Account
|
Previous |
New |
| Gross rate pa |
AER |
Gross rate pa |
AER |
| £1m+ |
- |
- |
1.13% |
1.13% |
| £500,000-£999,999 |
- |
- |
1.00% |
1.00% |
| £250,000-£499,999 |
- |
- |
0.88% |
0.88% |
| £1-£249,999 |
- |
- |
0.75% |
0.75% |
- 90 days' notice is required for each withdrawal. If notice is not given, an interest penalty of 90 days on the amount withdrawn, calculated at the interest rate applicable to your account on the day of withdrawal, will be applied.
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Other rates
| Coutts Base Rate |
0.50% pa |
|
Coutts Unarranged Borrowing Rate (without prior arrangement)
|
26.00% pa
|
- Coutts Base Rate is the same as the Bank of England Base Rate.
- The Annual Equivalent Rate ('AER') is the notional rate which shows the gross interest rate as if paid and compounded on an annual basis.
- 'Gross' is the rate of interest before the deduction of Income Tax at the rate required by UK law.
- Interest will be paid quarterly after deducting Income Tax (where applicable) at the rate required by law.
- All rates are subject to variation.
Rates correct as at 14 September 2009.
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