B interest rates and fees

There are all sorts of interest rates and fees for the B Current and B Instant Savings accounts. You can find out more about them below. But, if you’re looking for overdraft fees, please visit our overdrafts page.

No monthly account fee. Yes, really.

B is a liberating new way to manage your money. You'll get an app with tons of clever tools, competitive interest rates on your B Current account and B Instant Savings accounts and you're very own dedicated B contact centre for those times you just need to speak to someone. Everything's been designed to help you take complete control of your money. And yes there really is no monthly account fee.

As with any other bank account there are other fees you should know about and some services do come with extra charges.

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Your credit interest rates

This is the rate of interest that builds up on your account for the amount of money you have in credit.

Balance(% p.a) Gross1(% p.a) AER2(%)
Current rates until 30th November 2016
B Current* - Up to £2,000 0.5% 0.5%
B Current - Over £2,000 0% 0%
B Instant Savings** All balances 1% 1%
Rates from 1st December 2016
B Current* - Up to £2,000 0.25% 0.25%
B Current - Over £2,000 0% 0%
B Instant Savings** All balances 0.75% 0.75%

*Credit interest is worked out daily on the cleared credit balance and credited to accounts on the last working day of each month.

**Credit interest is worked out daily on the cleared credit balance and applied in arrears on the last working day of each calendar quarter.

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Download your account tariff

To find out more about our interest rates and fees you can download a PDF of the B Current account and linked savings account tariffs for personal customers.

Download tariff PDF (PDF, 101kb, downloads and opens in a new window)

Explaining the terms

These are based on the current understanding of UK taxation. Tax treatment is subject to future change.

1. Gross rate. Gross rate interest is payable without taking account of the deduction of income tax.

2. AER. Please note, the AER (Annual Equivalent Rate) is the equivalent rate if interest was paid and compounded once a year. Gross rate interest is the interest payable without taking account of any tax payable. From 6th April 2016 we no longer deduct tax from the interest earned on your savings, following the introduction of a Personal Savings Allowance. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Governments website www.gov.uk.

Some stuff you need to know about compensation arrangements

Your eligible deposits with Clydesdale Bank PLC are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

This limit is applied to the total of any deposits you have with Clydesdale Bank, Yorkshire Bank and B. Any total deposits you hold between these brands above this limit are unlikely to be covered. Please ask for further information or visit www.fscs.org.uk (opens in a new window).

Ready to get your hands on B?