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Interest rates

Current Sterling Interest Rates

Bank of England Base Rate is 0.75%, effective from 2nd August 2018

Business Deposit Accounts

We advise changes to interest rates on these accounts in accordance with the provisions of the Customer Agreement.
  
For full terms and conditions relating to each account, please contact your Relationship team.

 

Business Premium Account

A deposit account with instant access to funds. Interest paid quarterly. No minimum balance, maximum balance £50million (£2million for financial institutions).

Balance £

Gross rate %

AER %

£9,999,999+

0.400

0.401

£5,000,000+

0.400

0.401

£1,000,000+

0.400

0.401

£500,000+

0.300

0.300

£100,000+

0.300

0.300

£1+

0.200

0.200

Clients' Premium Account

An interest-bearing client account for businesses or bodies who hold clients’ funds with no charges for cheques or credits. Interest paid quarterly.

Balance £

Gross rate %

AER %

£1,000,000+

0.400

0.401

£500,000+

0.300

0.300

£250,000+

0.300

0.300

£100,000+

0.300

0.300

£25,000+

0.200

0.200

£1+

0.200

0.200

Clients' Monies Scheme

For businesses or bodies who hold clients’ funds which must be kept separate. Individual interest bearing accounts for each client. Access is via same day transfer or by transferring to your Clients Premium Account. Interest paid quarterly.

Balance £

Gross rate %

AER %

£1,000,000+

0.400

0.401

£500,000+

0.300

0.300

£250,000+

0.300

0.300

£100,000+

0.300

0.300

£25,000+

0.200

0.200

£1+

0.200

0.200

Barclays Business Deposit Accounts Unarranged Borrowing Rate

If your deposit account goes overdrawn you will be charged at the Unarranged Borrowing Rate. This is currently 15% above Bank of England Base Rate unless we agree a different rate for you. Interest will be calculated on your account on a daily basis and will be debited quarterly. The quarterly charging dates are available on request.

Barclays Treasury Deposits

Rates and minimum balance requirements available on request. At maturity, funds can be repaid to your Barclays current or deposit account.

Barclays Business Current Account With Credit Interest

A business Current Account to meet all of your day to day banking requirements. Business customers (maximum annual sales revenue £25,000,000) can choose to earn credit interest on their Business Current Account whilst paying standard Business Tariff.

Where credit interest is paid it will be paid quarterly in arrears on all cleared balances at a rate equal to 2.5% below the Bank of England Base Rate (‘Base Rate’). As Base Rate is below 2.5% at present the account currently pays a minimum rate of 0.05% gross/AER credit interest which is higher than the interest rate payable under the features of the account. However we reserve the right to change the current 0.05% minimum interest rate at any time.

 

Balance £

Gross rate %

AER %

£0.01+

0.050

0.050

Barclays Business Current Account Unarranged Borrowing Rate

If your current account goes overdrawn without prior arrangement, you will be charged at the Unarranged Borrowing Rate. The interest rate for borrowing without an agreed overdraft facility is generally 29.5% unless we have agreed a different rate with you.

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

AER (Annual Equivalent Rate) is a notional rate which illustrates the contractual interest rate (excluding any conditional bonus payable) as if paid and compounded on an annual basis.

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.

Complaints About Our Service

We want to hear from you if you feel unhappy about the service you have received from us. Letting us know your concerns gives us the opportunity to put matters right for you and improve our service to all our customers. If you have reason to complain you may do so in person, in writing by post or email or by telephone. Details of our complaints handling procedures are available on request from any branch, your relationship team or servicing team, the Barclays Information Line on 0800 400 100* or see our Complaints commitment.

Financial Ombudsman Service

If we are unable to resolve your complaint internally to your satisfaction, or we have not resolved your complaint within 8 weeks from when you first let us know about your concerns and you are an eligible complainant, you may be able to refer your complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR (www.financial-ombudsman.org.uk^).

The Financial Ombudsman Service is an organisation set up by law to give consumers a free and independent service for resolving disputes with financial firms. Details of those who are eligible complainants can be obtained from the Financial Ombudsman Service.