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Current Interest Rates


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First Trust Bank Base Rate, effective from close of business 5 March 2009: 0.50% (previous rate 1.00%).

Managed LIBOR Base Rate, effective from close of business 1 July 2014: 0.544% (previous rate: 0.528%). For more additional information, please refer below.

First Trust Bank Euro Base Lending Rate effective from close of business 23 June 2014: 0.125% (previous rate 0.250%).

 

Current Accounts
Debit Balances Authorised - Base Rate + Agreed Rate
Unauthorised (with a limit) - Base Rate + Agreed Rate +1.50%# per month (minimum 2 per month)
Unauthorised (without a limit) - Base Rate +12% +1.50%# per month (minimum 2 per month)
Marketlink Account
Current
Gross* Rate
Current AER**
Previous
Gross* Rate
Previous AER**
Effective from close of business 27/08/2010
Credit Balances
Payable Quarterly
Payable Quarterly
0-9,999 0.10% 0.10% 0.25% 0.25%
10,000-99,999 0.15% 0.15% 0.25% 0.25%
100,000-499,999 0.25% 0.25% 0.25% 0.25%
500,000-999,999 0.35% 0.35% 0.25% 0.25%
1,000,000+ 0.50% 0.50% 0.25% 0.25%
Managed Account
Restricted to professional firms managing client funds
Current
Gross* Rate
Current AER**
Previous
Gross* Rate
Previous AER**
Effective from close of business 27/08/2010
Credit Balances
Payable Quarterly
Payable Quarterly
0-9,999 0.10% 0.10% 0.10% 0.10%
10,000-99,999 0.15% 0.15% 0.15% 0.15%
100,000-499,999 0.20% 0.20% 0.50% 0.50%
500,000-999,999 0.25% 0.25% 0.50% 0.50%
1,000,000+ 0.30% 0.30% 0.50% 0.50%
Debit Balances Authorised - Base Rate + Agreed Rate
Unauthorised (with a limit) - Base Rate + Agreed Rate +1.50%# per month (minimum 2 per month)
Unauthorised (without a limit) - Base Rate +12% +1.50%# per month (minimum 2 per month)
Select Account (Open to Business and Personal Customers)
Current
Gross*/AER** Rate
Previous
Gross*/AER** Rate
Effective from 17/2/2009
Credit Balances
Payable annually
0-1,999 0.05% 0.05%
2,000-9,999 0.05% 0.05%
10,000-24,999 0.05% 0.05%
25,000-99,999 0.05% 0.10%
100,000+ 0.10% 0.15%

 

Sterling and Euro Fixed Term Deposits Rates are available on request.

Call Accounts Rates are available on request.

The Bank's Managed LIBOR Base Rate is a variable interest rate and accordingly will change from time to time. It is reviewed on a monthly basis as a minimum. The rate is calculated on the last business day of each month using the average of the three month LIBOR rate published daily for that month and is rounded to 3 decimal places. Where a change to the Bank's Managed LIBOR Base Rate occurs it will become effective from the first business day of the following month.

For example: a new rate that will be effective from the first business day in June would have been calculated on the last business day in May based on the average daily 3 month LIBOR in May.

"LIBOR" is the "London Interbank Offered Rate" and is the most widely used benchmark or reference rate on the London wholesale money market. Further details of this can be obtained from the British Banker's Association (www.bba.org.uk).

All rates are variable (can change from time to time) apart from Fixed Term Deposits.

All current interest rates apply from close of business on the effective date stated.

All lending facilities (including regulated Consumer Credit agreements) with a rate of interest linked to First Trust Bank base rate will be varied accordingly when base rate moves.

Subject to certain exceptions, interest will be paid net after deduction of tax at the basic rate under current legislation. If you are a higher rate taxpayer you may have additional tax to pay.

*Gross stands for contractual rate of interest payable before the deduction of income tax at the rate specified by law.

**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

#From 14 September 2009, we will work out excess interest at 1.50% per month (at least 2 per month).

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First Trust Bank is a trade mark of AIB Group (UK) p.l.c. (a wholly owned subsidiary of Allied Irish Banks, p.l.c.), incorporated in Northern Ireland. Registered Office 4 Queen's Square, Belfast BT1 3DJ. Registered Number, NI 18800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. AIB Group (UK) p.l.c is covered by the Financial Services Compensation Scheme, established under the Financial Services and Markets Act 2000.


AIB Group (UK) p.l.c subscribes to the Lending Code and is covered by the Financial Ombudsman Service. Details of the Lending Code are available on request from any First Trust Bank branch or from the Lending Standards Board.


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