Current Sterling Interest Rates
Bank of England Base Rate is 4.75%, effective from 7th November 2024.
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 £50m.
Rates effective from 7th November 2024.
| Date from: | £1+ | £100,000+ | £500,000+ | £1,000,000+ | £5,000,000+ | £9,999,999+ |
|---|---|---|---|---|---|---|
| 07/11/2024 GROSS |
1.75% | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
07/11/2024 GROSS AER |
1.762% | 1.762% | 1.762% | 1.762% | 1.762% | 1.762% |
Client Account with Interest
Client accounts for both general and designated use. An Interest-bearing client account for businesses or bodies who hold clients funds. Interest Paid Quarterly. Rates effective from 7th November 2024.
| Date from: | £1+ | £25,000+ | £100,000+ | £250,000+ | £500,000+ | £1,000,000+ |
|---|---|---|---|---|---|---|
| 07/11/2024 GROSS |
1.75% | 1.75% | 1.75% | 1.75% | 1.75% | 1.75% |
07/11/2024 GROSS AER |
1.762% | 1.762% | 1.762% | 1.762% | 1.762% | 1.762% |
Barclays Business Current Account with credit interest
A Business Current Account to meet all of your day to day banking requirements. Business customers 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. Rates effective from 7th November 2024.
|
Balance £ |
Gross rate % |
AER % |
|---|---|---|
|
£0.01+ |
0.88% |
0.883% |
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 15% 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.