Island Gold Account Interest Rates

Credit Interest Rates

Current Interest Rates

Interest rates are correct as at 01 April 2009

Interest on Credit Balances (paid monthly)	% Per Annum Gross Rate*	% Per Annum AER**
£1+	0.05	0.05
£10,000+	0.05	0.05
£25,000+	0.05	0.05
£50,000+	0.10	0.10
£100,000+	0.15	0.15
£250,000+	0.15	0.15

Previous Interest Rates

Interest rates are from 02 March 2009

Interest on Credit Balances (paid monthly)	% Per Annum Gross Rate*	% Per Annum AER**
£1+	0.05	0.05
£10,000+	0.10	0.10
£25,000+	0.10	0.10
£50,000+	0.15	0.15
£100,000+	0.15	0.15
£250,000+	0.20	0.20

Overdraft Interest Rates

Current Interest Rates

Interest rates from 02 November 2007

Interest on Planned and Unplanned Overdraft Debit Balances (paid monthly)	% Per Month	% EAR
Interest Rate	1.23	15.8

Previous Interest Rates

Interest rates from 01 August to 01 November 2007

Interest on Planned and Unplanned Overdraft Debit Balances (paid monthly)	% Per Month	% EAR
Interest Rate	1.23	15.8
Unauthorised Borrowing Rate	2.20	29.8

Interest rates from 01 June to 31 July 2007

Interest on Planned and Unplanned Overdraft Debit Balances (paid monthly)	% Per Month	% EAR
Interest Rate	1.21	15.5
Unauthorised Borrowing Rate	2.20	29.8

*GROSS RATE: The contractual rate of interest payable before deduction of income tax at the rate specified by law.

**AER - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER - Annual Equivalent Rate - you can compare more easily what return you can expect from your savings over time.

†EAR: Equivalent Annual Rate excluding any changes which may be applicable

Overdraft Charges
From 2 November 2007 new terms and conditions and some new overdraft rates and charges apply to your account. To see these please read our Personal Banking Overdraft rates and charges guide.