Some businesses prefer not to tie up their cash for fixed periods at fixed rates. Hodge Bank offers a choice of accounts that pay interest at a variable rate, depending upon the balance in the account. These are usually run alongside your current account at your existing bank and transfers are made via CHAPS or BACS. For security purposes we will not make third party payments and settlement instructions will be agreed in advance.
Is the contractual rate of interest payable before the deducation of income tax at the rate specified by law. The payment can be made annually or monthly.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.
This is the rate payable where interest is exempt from tax.
Important - Interest rates can change on a daily basis. Please call us on 0800 028 3746 for current rates.
Bank of England Base Rate currently 0.10% (last change 16th March 2020). Hodge Bank Base Rate currently 3% (last change 20th January 2009).