Non-Sterling Currency Accounts Interest Rates
The below information applies to newly opened accounts, for information on existing accounts please request from your usual Bank contact.
Credit Interest
Credit Interest is not payable on this account
Debit Interest
For any unauthorised borrowing, the unauthorised borrowing interest rate will be linked to the currency’s external Reference Interest Rate + 12% margin.
- Overdraft facilities available in most major currencies (subject to our normal lending criteria)
- Overdrafts are subject to arrangement fees
- The authorised borrowing margin is linked to the Reference Interest Rate.
Interest will be calculated on either a 360 day year or a 365 day year depending on the currency involved in line with market convention. For further information please contact your relationship manager.
Reference Interest Rates
The Reference Interest Rate can vary either up or down on a daily basis. If the Reference Interest Rate falls below 0%, it will be treated as 0% until such time it exceeds 0%. For currencies not listed in the table below please contact your Relationship Manager
Currency | Currency Code | Central Bank/Administrators | Reference Interest Rate available from | Reference Interest Rate |
---|---|---|---|---|
Australian Dollar | AUD | Reserve Bank of Australia | www.rba.gov.au | RBA Interbank Overnight Cash Rate |
Canadian Dollar | CAD | Bank of Canada | www.bankofcanada.ca | Overnight Rate Target |
Czech Republic Koruna | CZK | Czech National Bank | www.cnb.cz | Discount Rate |
Danish Krone | DKK | Danmarks Nationalbank | www.nationalbanken.dk | Certificates of Deposit Rate |
Euro | EUR | European Central Bank | www.ecb.europa.eu | European Deposit Facility rate (EDF) |
Hong Kong Dollar | HKD | The Hong Kong Association of Banks | www.hkab.org.hk | HKAB Settlement Overnight Rate |
Hungarian Forint | HUF | Magyar Nemzeti Bank | www.mnb.hu | Base Rate |
Israel Shekel | ILS | Bank of Israel | www.boi.org.il/en | Quoted Basic Interest Rate (Prime Rate) |
Japanese Yen | JPY | Bank of Japan | www.boj.or.jp | Uncollaterlised Overnight Call Rate |
Mexican Peso | MXN | Banco de Mexico | www.banxico.org.mx | Overnight Interest Rate Target |
Moroccan Dirham | MAD | Bank Al Maghrib | www.bkam.ma | Key Rate |
New Zealand Dollar | NZD | Reserve Bank of New Zealand | www.rbnz.govt.nz | Official Cash Rate |
Norwegian Krone | NOK | Norges Bank | www.norges-bank.no | Key Policy Rate |
Polish Zloty | PLN | Narodowy Bank Polski | www.nbp.pl | Rediscount Rate |
Qatari Riyal | QAR | Qatar Central Bank | www.qcb.gov.qa | QMR Overnight Deposit |
Saudi Riyal | SAR | Saudi Arabian Monetary Authority | www.sama.gov.sa | Official Repo Rate |
Singapore Dollar | SGD | Monetary Authority of Singapore | www.mas.gov.sg | Singapore Overnight Rate Average |
South African Rand | ZAR | South African Reserve Bank | www.reservebank.co.za | Repo Rate |
Swedish Krona | SEK | Sveriges Riksbank | www.riksbank.com | Repo Rate |
Swiss Franc | CHF | Swiss National Bank | www.snb.ch | SNB Target Rate |
Thai Baht | THB | Bank of Thailand | www.bot.or.th | One Day Repurchase Rate |
Turkey New Lira | TRY | Central Bank of the Republic of Turkey | www.tcmb.gov.tr | One Week Repo Rate |
UAE Dirham | AED | Central Bank of the UAE | Please refer to your RM | Overnight Repurchase Rate |
US Dollar | USD | The Federal Reserve | www.federalreserve.gov | Federal Funds Target Rate (Upper Bound) |