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All our account rates are shown below:


Duncan Lawrie sterling base rate

The base rate is 0.50% with effect from 5 March 2009. The base rate prior to this was 1.00%.
        

Payment of interest

For Instant and Notice Reserve Accounts, we will pay your interest into your account on the last working day of each quarter. If this day falls on a weekend or public holiday, we will pay the interest on the next business day. We will deduct lower rate tax from all interest, except in certain circumstances. For Tailored and Fixed Reserve Accounts, interest will be paid upon account maturity. Interest is calculated on a daily basis on your entire cleared balance, at the relevant rate shown in the tables below. 


Overdraft rates

Authorised overdrafts

Overdrafts are charged at base rate + 6% (subject to a minimum of 12%).

Unauthorised overdrafts

Where your account goes overdrawn without our prior agreement or exceeds an agreed overdraft limit at any time, we will charge interest on your overdrawn balance at the rate of 18% over base rate.


Current Account (no longer available)

Current rates (effective 14 January 2013)

Account balance

Gross interest rate*

Annual equivalent rate (AER)**

£0 and over

0.00%

0.00%

 

Previous rates

Account balance

Gross interest rate*

Annual equivalent rate (AER)**

On first £10,000

0.00%

0.00%

£10,001 and over

0.035%

0.035%

* Actual interest rate may vary from time to time, depending on the bank's base rate.
** The annual equivalent rate (AER) illustrates what the interest rate would be if it was paid and compounded each year.

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Instant Reserve (no longer available) (formerly Call Account)

Current rates (effective 1 February 2016)

The current interest rate on Instant Reserve Accounts is 0.125% across all balances. 

   
Previous rates - Call Account

Account balance

Gross interest rate*

Annual equivalent rate (AER)**

£0 - £10,000

0.00%

0.00%

£10,001 - £100,000

0.0625%

0.0625%

£100,001 and over

0.1250%

0.1250%

* Actual interest rate may vary from time to time, depending on the bank's base rate.
** The annual equivalent rate (AER) illustrates what the interest rate would be if it was paid and compounded each year.   
  

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Young Person's Account (no longer available)

(For clients who are under 21 years old and in full-time education).

Account balance

Gross interest rate*

Annual equivalent rate (AER)**

All balances

0.125%

0.125%

* Actual interest rate may vary from time to time, depending on the bank's base rate.
** The annual equivalent rate (AER) illustrates what the interest rate would be if it was paid and compounded each year.

Unless otherwise agreed, the above rates apply to all deposit and interest-bearing current accounts.

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Notice Reserve Account (no longer available)

Current rates (effective 8 August 2016)

 Account

Gross Interest Rate*

Annual Equivalent Rate (AER)**

45 days' Notice Reserve 0.75% per annum 0.75% per annum
95 days' Notice Reserve 1.10% per annum 1.10% per annum

   

Previous rates

Account

Gross Interest Rate* 

Annual Equivalent Rate (AER)**

45 days' Notice Reserve 0.75% per annum 0.75% per annum

* Actual interest rate may vary from time to time, depending on the bank's base rate.
** The annual equivalent rate (AER) illustrates what the interest rate would be if it was paid and compounded each year.
    

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Fixed Reserve Account (formerly Money
Market deposit)

Current rates (effective 4 January 2016)

Fixed Reserve Account

Gross Interest Rate*

Annual Equivalent Rate (AER)**

3 months 0.5% per annum 0.5% per annum
6 months (no longer available) 1.0% per annum 1.0% per annum
12 months (no longer available) 1.5% per annum 1.5% per annum
24 months (no longer available) 2.0% per annum 2.0% per annum

*Gross Interest Rate is the annual rate of interest to be paid on your deposit before basic rate income tax is deducted.
**AER is a notional rate to illustrate what the interest rate would be, if interest was paid and compounded each time it was paid

   
Previous rates 

Duration

Interest Rate

3 month 0.5%
6 month

0.75%

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Fixed ISA Reserve Account (no longer available)

Current rates (effective 25 April 2016)

Duration

Gross interest rate*

Annual equivalent rate (AER)**

12 months 1.35% 1.35%
24 months

1.85%

1.85%

*Gross Interest Rate is the annual rate of interest to be paid on your deposit before basic rate income tax is deducted.
**AER is a notional rate to illustrate what the interest rate would be, if interest was paid and compounded each time it was paid

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