Island Business Reserve Account

(Formerly Island Business Savings Account)

Current Interest Rates

Interest rates are correct as at 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
£10,000+ 0.50 0.50
£50,000+ 0.75 0.75
£100,000+ 1.00 1.00

Previous Interest Rates

Interest rates are from 13 October 2008

Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
£1+ 0.50 0.50
£5,000+ 0.60 0.60
£10,000+ 1.15 1.15
£50,000+ 1.90 1.91
£100,000+ 2.50 2.52

*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.