• Foreign & Euro Currency Account Interest Rates

  • The information below applies to Foreign Currency Accounts & Euro Current Accounts opened on or after 22 February 2018
  • The information below applies to Foreign Currency Accounts & Euro Current Accounts opened after 24 September 2014 but before 22 February 2018
  • The information below applies to Foreign Currency Accounts, Euro Current Accounts & Euro Call Accounts opened before 24 September 2014

The information below applies to Foreign Currency Accounts & Euro Current Accounts opened on or after 22 February 2018

  • 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 Relationship Manager or 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 ILK 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 ww.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.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 Federal Reserve Bank of NY www.newyorkfed.org Federal Funds Target Rate

The information below applies to Foreign Currency Accounts & Euro Current Accounts opened after 24 September 2014 but before 22 February 2018

  • Reference Interest Rates

    For information on the Reference Interest Rates for our major currencies please refer to our Reference Interest Rate 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

The information below applies to Foreign Currency Accounts, Euro Current Accounts & Euro Call Accounts opened before 24 September 2014

  • Credit Interest 

    Euro Currency Account & Euro Call Account 

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

    Credit interest is paid on seven tiered tranche as follows:

     

    Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
    <£3,000 No interest paid
    £3,000 to £19,999 -3.50%
    £20,000 to £39,999 -2.50%
    £40,000 to £79,999 -1.50%
    £80,000 to £199,999 -1.00%
    £200,000 to £399,999 -0.50%
    £400,000 to £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 seven tiered tranche as follows:

    Credit Interest Rate Tiers (denominated in GBP Sterling) Credit Interest Rate Margin
    <£3,000 No interest paid
    £3,000 to £19,999 -3.50%
    £20,000 to £39,999 -2.50%
    £40,000 to £79,999 -1.50%
    £80,000 to £199,999 -1.00%
    £200,000 to £399,999 -0.50%
    £400,000 to £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 seven tiered tranche as follows:

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

    Note: If the Reference Interest Rate falls 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 Schedule, or contact your Relationship Manager or 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
    Iceland Krona ISK Central Bank of Iceland www.sedlabanki.is Overnight CBI Rate
    Israel Shekel ILK 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 ww.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.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 Federal Reserve Bank of NY www.newyorkfed.org Federal Funds Target Rate

    Exchange Rates (£0m - £1m: for use with Credit Interest Rate Tiers denominated in GBP Sterling – see above)

    Exchange Rates (£1m - £25m: 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.