Current Account Interest Rates
Customers are advised that the following interest rates are effective as at 9 September 2011:
Current Accounts – Business
| Overdrafts | Authorised Debit Balances Variable rate | APR * | Interest cost per €'000 per month over 1 year *** | Total cost of credit *** |
|---|---|---|---|---|
| 9.45% | 9.79% | €7.88 | €1,094.50 | |
| Overdrafts | Unauthorised Debit Balances Variable rate | APR * | Interest cost per €'000 per month over 1 year **** | Total cost of credit **** |
| 15.45% | 16.37% | €12.88 | €1,154.50 |
The above accounts currently pay 0% per annum (0% AER **) on Credit Balances.
Lending criteria and Terms & Conditions apply to overdraft facilities.
Security may be required.
* APR is the 'Annual Percentage Rate'
** AER is the 'Annual Equivalent Rate'.
*** This a representative example of the APR calculation. It is based on the interest cost per month of a €1,000 overdraft over 1 year at the authorised debit balance variable rate. Debit interest is charged to your account on a quarterly basis.
**** This a representative example of the APR calculation. It is based on the interest cost per month of a €1,000 overdraft over 1 year at the unauthorised debit balance variable rate. Debit interest is charged to your account on a quarterly basis.
