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Business Instant Access Reserve Account
Accessibility and attractive rates for SMEs
If your company has a balance of between £2,000 and £2 million and is looking for accessibility and attractive rates, then a Business Instant Access Reserve Account could be the solution.
- Instant access - immediate access to funds with no penalties
- Interest added every quarter - interest is calculated daily and credited every quarter
- Banded interest rates - as the amount held on deposit increases to the next balance band , so will the rate of interest earned
- Make more of other balances - automatic transfers to and from a business current account will help maximise the return on surplus funds
- £2,000 minimum balance - and a maximum balance of £2 million
New rates with effect from 24/04/08
| Balances | Gross Rate per annum (%) | AER* (%) |
|---|---|---|
| £250,000 - £2,000,000 | 2.50 | 2.52 |
| £100,000 - £249,999 | 2.50 | 2.52 |
| £25,000 - £99,999 | 2.50 | 2.52 |
| £10,000 - £24,999 | 2.50 | 2.52 |
| £2,000 - £9,999 | 2.50 | 2.52 |
| £0 - £1,999 | 2.50 | 2.52 |
Gross is the interest rate paid before the deduction of tax.
Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
The rates were correct when they were published on the internet, but they may change at any time.
The interest paid will reflect UK law and the regulations governing deduction of income tax from interest earned.
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