• Island Business Reserve Account

  • A savings account that can be used in conjunction with your day-to-day business account.

    • Interest paid monthly on your surplus funds.
    • Tiered rates of interest: higher balances earn greater returns.
    • The highest applicable interest rate is paid on the whole balance.
  • Features & Benefits

    • No minimum opening deposit.
    • Tiered rates of interest.
    • Interest paid monthly.
    • With a phone call or through Internet banking, funds can be transferred immediately to another account at the branch.
  • Interest Rates

    Current Interest Rates

    Interest rates are correct as at 09 March 2009

    Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
    £1+ 0.01 0.01
    £5,000+ 0.01 0.01
    £10,000+ 0.05 0.05
    £50,000+ 0.05 0.05
    £100,000+ 0.10 0.10

    Previous Interest Rates

    Interest rates are from 09 February 2009

    Interest on Credit Balances (paid monthly) % Per Annum Gross Rate* % Per Annum AER**
    £1+ 0.01 0.01
    £5,000+ 0.05 0.05
    £10,000+ 0.05 0.05
    £50,000+ 0.10 0.10
    £100,000+ 0.10 0.10

    *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.

  • What is the minimum opening balance?

    There is no minimum balance for the Islands Business Reserve Account. It is designed as a place to put your surplus funds from your business current account.

    How much can I deposit in an Islands Business Reserve Account?

    There is no maximum balance for the Islands Business Reserve Account.

    How much access do I have to my money?

    The Islands Business Reserve Account allows instant access so you can make as many withdrawals as you wish.

    When is interest paid on the Island Business Reserve Account?

    Interest is payable monthly and will be paid on the 10th day of each calendar month or the next working day.

    Who can I speak to if I need extra information?

    Please call us on:

    • Jersey 01534 845011
    • Guernsey 01481 706309
    • Isle of Man 01624 638281

    Pop into your local branch and speak to a member of staff.

  • How to apply:

    pin

    Visit us in branch

    Find a branch

    telephone

    Call us

    • 01534 845012  Jersey
    • 01481 706308  Guernsey
    • 01624 657848  Isle of Man