Island Business High Interest Cheque Account

Current Interest Rates

Interest rates are correct as at 9 December 2008

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.05 0.05
£5,000+ 0.10 0.10
£50,000+ 0.15 0.15
£100,000+ 0.20 0.20
£250,000+ 0.25 0.25

Previous Interest Rates

Interest rates are from 11 November 2008

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.25 0.25
£5,000+ 0.30 0.30
£50,000+ 0.40 0.40
£100,000+ 0.50 0.50
£250,000+ 0.60 0.60

*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.