We guarantee 0.25% over Bank of Scotland Base Rate with instant access until 31st January 2010 (for all new accounts opened and funded by 31st December 2008). In the example below that makes a difference of £14,100 compared to HSBC. Delivering a market leading rate for your business deposits of 5.38% AER Variable.
| Deposit accounts |
Balance of £500k |
Interest Value** |
Bank of Scotland
Corporate Premium Deposit account |
5.38% |
£26,900 |
Barclays
Instant Access Saver Account |
3.71% |
£18,550 |
HSBC
Business Money Manager Account |
2.56% |
£12,800 |
Lloyds TSB
Corporate Call Account |
3.40% |
£17,000 |
Nat West
Corporate Money Market Account |
3.77% |
£18,850 |
*Open to trading entities only and excludes Financial Institutions.
**Example based on holding £500,000 deposit for 12 months at 6th June 2008 and on the interest rate and deposit balance remaining constant for 12 months.
Source: Business Moneyfacts magazine. 06/08
# Maximum deposit £50 million. Higher amounts to be reviewed and accepted at the Bank's discretion.
The Annual Equivalent Rate (AER) represents the annual rate effectively recieved by the customer if interest at the gross rate applied during a year remained in the account and itself earned interest
Interest is calculated daily and paid monthly with the exception of NatWest Bank who pay quarterly.
