Island Gold Account

Credit Interest Rates

Current Interest Rates

Interest rates are correct as at 02 January 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+ 0.20 0.20
£50,000+ 0.30 0.30
£100,000+ 0.55 0.55
£250,000+ 0.65 0.65

Previous Interest Rates

Interest rates are from 01 December 2008

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.20 0.20
£10,000+ 0.30 0.30
£25,000+ 0.40 0.40
£50,000+ 0.85 0.85
£100,000+ 1.55 1.56
£250,000+ 1.65 1.66

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.