Inside content area, use arrow keys or tab to access content

Foreign & Euro Currency Account Interest Rates

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.

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 Business Management Team.

Currency
Currency Code
Central Bank
Reference Interest Rate available from
Reference Interest Rate
Australian Dollar
AUD
Reserve Bank of Australia
www.rba.gov.au
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.euribor.org
Euro Overnight Index Average
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
Uncollateralised 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 Arabian 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 Krone
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.tomb.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
Federal Reserve Bank of NY
www.newyorkfed.org
Federal Funds Target Rate

Reference Interest Rates

For information on the Reference Interest Rates for our major currencies please refer to our Reference Interest RatesCurrency Account Reference Interest Rates PDF, opens in a new browser window. schedule. 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%.

Credit Interest

The Credit Reference Rate is the rate currency accounts are linked to for credit interest and is set at 0.25% below the Reference Interest Rate (if the Reference Interest Rate falls below 0%, it will be treated as 0% until such time it exceeds 0%).

The appropriate credit interest rate margin is then applied.

For information on the Credit Interest Tiers please refer to our Currency Account Credit Interest Tiers.

Debit interest

The Debit Reference Rate is the rate currency accounts are linked to for debit interest and is set at 0.25% above the Reference Interest Rate (if the Reference Interest Rate falls below 0%, it will be treated as 0% until such time it exceeds 0%).

The appropriate debit interest rate margin is then applied.

  • Overdraft facilities available in most major currencies (subject to our normal lending criteria)
  • Overdrafts are subject to arrangement fees
  • For any unauthorised borrowing, the unauthorised borrowing interest rate will be the Debit Reference Rate of the account’s currency + 12% margin

Credit Interest

Euro Currency Account & Euro Call Account

Credit interest is linked to the Euro Overnight Index Average (EONIA®).

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling)
Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate

The EONIA rate can be obtained from a number of independent sources including the Financial Times.

US Dollar Currency Account

Credit interest is linked to the Federal Funds Target Rate.

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate

The Federal Funds Target Rate can be obtained from a number of independent sources including the Financial Times.

Other (Non-Euro or US Dollar) Foreign Currency Account

The Reference Interest Rate is the rate currency accounts are linked to for credit interest.

Credit interest is paid on a seven tiered tranche as follows:-

Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
<£3,000 No interest paid
£3,000 - £19,999 -3.50%
£20,000 - £39,999 -2.50%
£40,000 - £79,999 -1.50%
£80,000 - £199,999 -1.00%
£200,000 - £399,999 -0.50%
£400,000 - £799,999 -0.25%
£800,000+ Full rate

 

Note: Should the Reference Interest Rate fall below 0%,it will be treated as 0% until such time it exceeds 0%. If the Reference Interest Rate together with the deduction of the Credit Interest Margin is still below 0%, then no interest will be paid.

If you would like to know the Reference Interest Rate for your currency account and where this is sourced, please see our Reference Interest Rate ScheduleA PDF, opens in a new browser window. or contact your Business Management Team.

Exchange RatesExchange Rates PDF, opens in a new browser window. (For use with Credit Interest Rate Tiers denominated in GBP Sterling - see above).

Debit Interest

Overdraft facilities available in most major currencies (subject to our normal lending criteria).

For any unauthorised borrowing, the unauthorised borrowing interest rate will be the Reference Interest Rate of the account’s currency + 12% margin.

Switching icon

International payment services

Send and receive international payments more efficiently in a variety of currencies.

Find out about our International payment servicesFind out about our International payment services

Switching icon

International services

Make trading abroad as smooth as possible with our range of international products and services.

Back to International servicesBack to International services

 

currency icon

Trading internationally

Our business guides can help you with importing, exporting and making and receiving payments within Europe.

Find out moreFind out more about trading internationally

internet banking icon

Arena

Arena is our comprehensive e-solution for businesses, combining foreign exchange and money markets trading with economic insight.

Find out moreand use Arena

internet banking icon

Internet Banking

Manage your accounts when and where it suits you.

Find out moreLearn more about Internet Banking for Business