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Interest rates

Currency Clients Premium and Clients Designated Accounts

Clients accounts for both general and designated use in a number of major non-sterling currencies. Interest is paid gross and cheque books are available

Eurozone (EUR)

Currency type

Effective date

Balance

Gross rate1

AER2

Euro (EUR)#

14/09/2022

1+

0.250%

0.250%

USA (USD)

Currency type

Effective date

Balance

Gross rate1

AER²

US dollar (USD)

22/09/2022

1+

1.200%

1.205%

Credit interest is not currently payable on the following currency types:

UAE dirham (AED)
Australian Dollar (AUD)
Canadian dollar (CAD)
Swiss franc (CHF)
Czech koruna (CZK)
Danish krone (DKK)
Hong Kong dollar (HKD)
Israeli shekel (ILS)
Japanese yen (JPY)
Mexican peso (MXN)
New Zealand dollar (NZD)
Norwegian krona (NOK)
Polish zloty (PLN)
Swedish krone (SEK)
Singapore dollar (SGD)
New Turkish Lira (TRY)
South Africa (ZAR)

The interest calculation is based on a 360-day year for most currencies except HKD, PLN and SGD, which are based on a 365-day year. Rates will be reviewed regularly and may be varied at the Bank’s discretion at any time. Interest is paid quarterly.

For cut off times and ‘value given’ date for deposit, please contact your relationship team.

¹Gross is the rate of interest payable without the deduction of tax

²AER (Annual Equivalent Rate) is a notional rate which illustrates the contractual interest rate as if paid and compounded on an annual basis

#Rate only applies to accounts opened after 14/09/2022

Important information about tax on interest earned

In accordance with UK tax legislation, from 6 April 2016 interest is paid gross. For UK resident individuals (including sole traders or partnerships), if you are a UK taxpayer you may have to pay tax on interest earned in excess of your Personal Savings Allowance. For information and guidance, please refer to HMRC’s website: www.hmrc.gov.uk^.

The management of your tax affairs is your responsibility, including making any required declarations to the relevant tax authority(ies), where you are tax resident.