Current sterling interest rates
The interest rates quoted are subject to variation and are correct as at 9 December 2010. Bank of England Base Rate is 0.5%, which was effective from 5 March 2009.
Business Deposit Accounts
We advise changes to interest rates on these accounts in accordance with the provisions of the Customer Agreement. The Payment Services Directive (PSD) sets minimum standards for the treatment of ‘Micro Enterprise’ businesses, which is a term the European Commission defines as ‘an enterprise which employs fewer than 10 persons and whose annual turnover and/or annual balance sheet total does not exceed €2 million’. In Barclays Business, the products and services we offer to our Micro Enterprise customers are subject to the PSD. However, some of our deposit products are designed to meet the needs of larger, non Micro Enterprise businesses, and are therefore not subject to the PSD.
It is therefore important that you select the appropriate deposit product, depending on whether your business is classed as a Micro or Non Micro Enterprise.
For full terms and conditions relating to each account, please contact your relationship team.
Deposit products available to Micro and non-Micro Enterprise Customers
A straightforward deposit account that pays an interest rate equivalent to 75% of the Bank of England Base Rate and offers instant unlimited access to funds. Interest paid annually. No minimum balance. Maximum balance £5 million (£2 million for financial institutions).
| Balance |
Gross rate % | AER % | Net rate % |
| £0.01+ | 0.38 | 0.38 | 0.304 |
A straightforward deposit account that pays an interest rate equivalent to the Bank of England Base Rate in any month that no withdrawals are made from the account. If a withdrawal is made, the withdrawal rate of 0% will apply for that calendar month only. Interest paid monthly. No minimum balance. Maximum balance £5 million (£2 million for financial institutions).
In any month where no withdrawal is made from the account, the following top rate of interest will apply:
| Balance |
Gross rate % | AER % | Net rate % |
| £0.01+ | 0.5 | 0.5 | 0.4 |
In any month where a withdrawal is made from the account, the following withdrawal rate of interest will apply:
| Balance |
Gross rate % | AER % | Net rate % |
| £0.01+ | 0 | 0 | 0 |
Deposit products available to Micro Enterprise Customers
An easy access no-notice deposit account for business customers (including clubs, charities, churches and societies). Interest paid quarterly. No minimum balance. Maximum balance £5 million (£2 million for financial institutions).
| Balance |
Gross rate % | AER % | Net rate % |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £250,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £25,000+ | 0.05 | 0.05 | 0.04 |
| £10,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
Base Rate Tracker (effective 6 March 2009)
An interest-bearing deposit account, which combines easy, no-notice access to your money with an interest rate that tracks the Bank of England Base Rate (subject to a minimum rate) 1. 12 free withdrawals a year, additional withdrawals are charged at £2.50 per £1,000. Interest paid quarterly. Minimum balance £5,000 and maximum balance £5 million (£2 million for financial institutions).
| Balance |
Tracker Rule 1 % below Base Rate |
Gross rate % 2 |
AER % | Net rate % |
| £1 million+ | 1 | 0.05 | 0.05 | 0.04 |
| £500,000+ | 1.4 | 0.05 | 0.05 | 0.04 |
| £100,000+ | 1.65 | 0.05 | 0.05 | 0.04 |
| £25,000+ | 2 | 0.05 | 0.05 | 0.04 |
| £5,000+ | 2.5 | 0.05 | 0.05 | 0.04 |
For businesses or bodies who hold clients' funds eg solicitors. A deposit account with no charges for cheques or credits. Interest paid quarterly. No minimum balance required.
| Balance |
Tracker Rule 1 % below Base Rate |
Gross rate % 2 |
AER % | Net rate % |
| £1 million+ | 1 | 0.15 | 0.15 | 0.12 |
| £250,000+ | 1.5 | 0.05 | 0.05 | 0.04 |
| £100,000+ | 1.75 | 0.05 | 0.05 | 0.04 |
| £25,000+ | 2 | 0.05 | 0.05 | 0.04 |
| £10,000+ | 2.5 | 0.05 | 0.05 | 0.04 |
| £1+ | 3 | 0.05 | 0.05 | 0.04 |
An unrestricted, no-notice business deposit account that combines easy access to your money with an interest rate that tracks the Bank of England Base Rate (subject to a minimum rate) 2. No minimum balance, maximum balance £50 million. Interest paid monthly.
| Balance |
Tracker Rule 1 % below Base Rate |
Gross rate % 2 |
AER % | Net rate % |
| £25 million+ | 0.5 | 0.25 | 0.25 | 0.2 |
| £10 million+ | 0.75 | 0.2 | 0.2 | 0.16 |
| £5 million+ | 1 | 0.2 | 0.2 | 0.16 |
| £2.5 million+ | 1.25 | 0.15 | 0.15 | 0.12 |
| £1 million+ | 1.5 | 0.15 | 0.15 | 0.12 |
| £500,000+ | 1.75 | 0.05 | 0.05 | 0.04 |
| £250,000+ | 2 | 0.05 | 0.05 | 0.04 |
| £100,000+ | 2.25 | 0.05 | 0.05 | 0.04 |
| £0-£99,9999+ | 2.5 | 0.05 | 0.05 | 0.04 |
Deposit products available to non-Micro Enterprise Customers
A deposit account with easy, same-day access available by transferring funds to your Business Current Account. Interest paid quarterly. No minimum balance, maximum balance £50 million (£2 million for financial institutions).
| Balance |
Gross rate % | AER % | Net rate % |
| £9,999,999+ | 0.15 | 0.15 | 0.12 |
| £5 million+ | 0.15 | 0.15 | 0.12 |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £500,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
An interest-bearing client account for businesses or bodies who hold clients’ funds with no charges for cheques or credits. Interest paid quarterly.
| Balance |
Gross rate % | AER % | Net rate % |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £500,000+ | 0.05 | 0.05 | 0.04 |
| £250,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £25,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
A deposit account with easy, same-day access available by transferring funds to your Business Current Account. Interest paid quarterly. No minimum balance, maximum balance £50 million (£2 million for financial institutions).
| Balance |
Gross rate % | AER % | Net rate % |
| £9,999,999+ | 0.15 | 0.15 | 0.12 |
| £5 million+ | 0.15 | 0.15 | 0.12 |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £500,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
An interest-bearing client account for businesses or bodies who hold clients’ funds with no charges for cheques or credits. Interest paid quarterly.
| Balance |
Gross rate % | AER % | Net rate % |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £500,000+ | 0.05 | 0.05 | 0.04 |
| £250,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £25,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
An interest-bearing client account for businesses or bodies who hold clients’ funds with no charges for cheques or credits. Interest paid quarterly.
| Balance |
Gross rate % | AER % | Net rate % |
| £1 million+ | 0.15 | 0.15 | 0.12 |
| £500,000+ | 0.05 | 0.05 | 0.04 |
| £250,000+ | 0.05 | 0.05 | 0.04 |
| £100,000+ | 0.05 | 0.05 | 0.04 |
| £25,000+ | 0.05 | 0.05 | 0.04 |
| £1+ | 0.05 | 0.05 | 0.04 |
Barclays Business deposit accounts: Unauthorised Overdraft Rate
If your deposit account goes overdrawn you will be charged at the Unauthorised Overdraft Rate. This is currently 15% above Bank of England Base Rate. Interest will be calculated on your account on a daily basis and will be debited quarterly. The quarterly charging dates are available on request.
Barclays Treasury Deposits
Rates and minimum balance requirements available on request. At maturity for fixed deposits or on repayment for Call and Notice deposits, funds can be repaid to your Barclays current or deposit account.
Business current accounts
Barclays Business Current Account With Credit Interest
A business current account to meet all of your day to day banking requirements. Business customers (maximum annual sales revenue £25 million) can choose to earn credit interest on their business current account while paying standard Business Tariff.
Where credit interest is paid it will be paid quarterly in arrears on all cleared balances at a rate equal to 2.5% below the Bank of England Base Rate (‘Base Rate’). As Base Rate is below 2.5% at present the account currently pays a minimum rate of 0.1% gross/AER credit interest, which is higher than the interest rate payable under the features of the account. However, we reserve the right to change the current 0.1% minimum interest rate at any time.
| Balance |
Gross rate % | AER % | Net rate % |
| £0.01+ | 0.1 | 0.1 | 0.08 |
Interest rates for Business current accounts no longer available
Barclays Business Direct Current Account
A Business Direct Current Account to meet all of your day to day banking requirements. Business Direct customers are offered interest on Business Current Account whilse paying standard Barclays Business Direct Tariff. Where credit interest is paid it will be paid monthly in arrears on all cleared balances at a rate equal to 2.5% below the Bank of England Base Rate (‘Base Rate’). As Base Rate is below 2.5% at present the account currently pays a minimum rate of 0.1% gross/AER credit interest, which is higher than the interest rate payable under the features of the account. However, we reserve the right to change the current 0.1% minimum interest rate at any time.
| Balance |
Gross rate % | AER % | Net rate % |
| £0.01+ | 0.1 | 0.1 | 0.08 |
Barclays Business Current Account: Unauthorised Overdraft Rate
If your Business Current Account goes overdrawn without prior arrangement, you will be charged at the Unauthorised Overdraft Rate. The interest rate for borrowing without an agreed overdraft facility is currently 29.5%. Interest will be calculated on your account on a daily basis and will be debited quarterly. The quarterly charging dates are available on request.