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)