Current interest rates for open to sale products
Business Direct Saver
Rates are variable and effective from 8 June 2009
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £9,999 |
0.25% |
0.20% |
0.25% |
0.20% |
|
£10,000 + |
1.00% |
0.80% |
1.00% |
0.80% |
Business Reward Saver
Rates are variable and effective from 8 June 2009
Interest rates if one withdrawal is made during the first 12 months
| Tier |
Gross p.a. / AER |
Net p.a. (including bonus)1 |
Gross rate p.a. (excluding bonus) |
Net rate p.a. (excluding bonus) |
|
Less than £30,000 |
0.10% |
0.08% |
0.10% |
0.08% |
|
£30,000 + |
1.84% |
1.47% |
0.92% |
0.74% |
1Includes a variable rate bonus for the first 12 months of 1.00% gross/AER. A reduced rate of 0.10% gross/AER will be paid on the full balance on the account for the month in which a withdrawal is made.
Interest rates if no withdrawals are made during the first 12 months
| Tier |
Gross p.a. / AER |
Net p.a. (including bonus)1 |
Gross rate p.a. (excluding bonus) |
Net rate p.a. (excluding bonus) |
|
Less than £30,000 |
0.10% | 0.08% | 0.10% | 0.08% |
| £30,000 + | 2.00% | 1.60% | 1.00% | 0.80% |
Business Reserve Client Account (Issue 1)
Rates are variable and effective from 5 March 2009
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £49,999 |
0.10% | 0.08% | 0.10% | 0.08% |
|
£500,000 + |
0.60% | 0.48% | 0.60% | 0.48% |
Current interest rates for off sale products
Business Reserve and Business Reserve Client Account (Issue 1)
Rates are variable and effective from 5 March 2009
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £499,999 |
0.10% | 0.08% | 0.10% | 0.08% |
|
£500,000 + |
0.60% | 0.48% | 0.60% | 0.48% |
Business Reserve (Issue 2)
Rates are variable and effective from 1 April 2009
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £9,999 |
0.25% | 0.20% | 0.25% | 0.20% |
|
£10,000 + |
1.00% | 0.80% | 1.00% | 0.80% |
Previous interest rates
Business Reserve and Business Reserve Client Account (Issue 1)
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £249,999 |
0.10% | 0.08% | 0.10% | 0.08% |
| £250,000 - £499,999 | 0.32% | 0.26% | 0.32% | 0.26% |
|
£500,000 + |
1.11% | 0.89% | 1.10% | 0.88% |
Business Reserve (Issue 2)
| Tier |
Gross rate / AER |
Net rate |
Monthly gross rate |
Monthly net rate |
|
£1 - £9,999 |
0.50% | 0.40% | 0.50% | 0.40% |
| £10,000 + | 1.25% | 1.00% | 1.24% | 0.99% |
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. Rates may change and we pay interest each month or year.
Charges
Charges apply for non-standard services – these are listed below.
| Description | Charge |
| Instant Overdraft interest rate1 | Typical 29.9% APR (variable) |
| Instant Overdraft monthly fee1 | £15.00 |
| Charge for each debit transaction paid whilst in your Instant Overdraft1 | £30.00 |
| Please note: an Instant Overdraft fee and interest may be incurred solely as a result of charges being debited in the previous month | |
| Unpaid cheque/direct debit/standing order/bill payment2 | £32.00 |
| Photocopy of cheque2 | £4.00 |
| CHAPS payment (UK)2 | £20.00 |
| CHAPS payment (International)2 | £25.00 |
| Telegraphic Transfer2 | £20.00 |
| International Telegraphic Transfers (sterling)2 | £20.00 |
| International Telegraphic Transfers (foreign currency)2 | £25.00 |
| Bankers Draft2 | £10.00 |
| Foreign drafts2 | £10.00 |
| Audit replies2 | £25.00 plus VAT |
| Status replies2 | £10.00 |
| Stopped cheques2 | £10.00 |
| Use of Visa card within Europe & rest of the world2 | 2.75% of the value |
| Deed of guarantee or indemnity | 1.5% p.a. (min £100) |
1These charges and all transaction charges will be notified to you at least 14 days before they are debited to your account.
2 The charges will be applied at the time they are incurred.
Advance Overdrafts are only available on accounts opened since 2 January 2002.
All overdraft interest rates are variable.
Cash machine usage
| Abbeylink or link network cash machine charge | No charge |
| PLUS cash withdrawal handling charge 3 | 1.5% of the value (min £1.50) |
| Cash withdrawal handling charge from Cirrus badged machines 4 | £1 plus 1.5% of the value |
| Visa cash withdrawal handling charge 5 | 1.5% of the value (min £1.50) |
3 By Electron card holders from cash machines displaying the PLUS symbol, but which are not part of the Abbeylink or Link cash machine networks.
4 By 24 hour card holders from cash machines displaying Cirrus symbol but which are not part of the Abbeylink or Link networks.
5 By Debit Card holders from banks, organisations or cash machines displaying the VISA symbols but which are not part of the Abbeylink or Link cash machine networks.
These products are available to businesses with a turnover of £1 million or less
Abbey National plc. Registered Office: Abbey National House, 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised and regulated by the Financial Services Authority. FSA registration number 106054. Abbey and the flame logo are registered trademarks.
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