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Business Lending Rates
Business loans
Representative example
9.9% APR representative (fixed). Based on an assumed loan amount of £13,000 over 60 months at the AIR of 9.06% p.a (fixed). Arrangement Fee £250. Monthly repayment £273.12. Total amount payable £16387.38.
*Annual Percentage Rate Representative (APR Representative)
9.94% APR representative (fixed)
**Annual Interest Rate (AIR)
9.06% p.a. (fixed)
***Simple Interest rate
8.70% p.a.
Definitions:
*Annual Percentage Rate (APR) is the total cost of the credit expressed as an annual percentage. It represents the actual yearly cost of credit over the loan term and includes the rate of interest and a £250 arrangement fee for a £13,000 loan. The APR will vary depending on the loan amount and term.
Annual Percentage Rate Representative (APR Representative) is the advertised rate (or a lower rate) we reasonably expect at least 51% of people who are accepted for and enter into the loan agreement as a result of the advertising or marketing will pay.
**Annual Interest Rate (AIR) is the rate of interest on a loan with the rate compounded on a monthly basis.
***Simple Interest Rate is the rate at which daily interest accrues on the loan (not compounded)
Business Loan Arrangement Fees
Amount of borrowing |
Arrangement Fee |
|---|---|
| Up to £5,000 | £100 |
| £5,001-£10,000 | £175 |
| £10,001-£15,000 | £250 |
| £15,001 & over | 1.5% (min £250) |
Please note: Borrowing is subject to status and lending criteria. The loan amount and rate we offer may differ as it will depend on our assessment of your circumstances.
Unsecured loans available from £1,000 to £25,000 over 1 to 10 years (fixed rate loans)
Rates correct at 1 February 2019
Business overdrafts
Business overdraft of £8,000 over 12 months 14.15% EAR1 representative
Simple Interest Rate2 This representative example has a simple interest rate of 13.31%per annum
An arrangement fee, in this example £175, is taken when the overdraft is agreed.
Please note: Borrowing is subject to status and lending criteria. The overdraft amount and rate we offer may differ as it will depend on our assessment of your circumstances.
1 EAR means the Equivalent Annual Rate, it includes the Bank of England Base Rate and assumes that interest is compounded monthly. It does not take into account any other charges for example unauthorised borrowing fees. For further information please see ‘Business Banking Charges Guide’ within Business Accounts
2 Interest accrues daily at this rate and charged monthly. Inclusive of Bank of England Base Rate %, which can be found at www.bankofengland.co.uk/
View our business tariffs and charges here.
The unauthorised borrowing rate is 19.90% pa. This rate is not linked to the Bank of England Bank Rate and can be changed by the bank at any time in accordance with the terms and conditions of the account.
Overdraft Arrangement Fees
Facility size |
0-3 Months |
4-6 Months |
7+ Months |
|---|---|---|---|
| Up to £5,000
|
£100 |
£100 |
£100 |
£5,001-£10,000 |
£175 |
£175 |
£175 |
£10,001-£15,000 |
£250 |
£250 |
£250 |
£15,001 & over |
0.40% |
0.75% |
1.5% (min £250) |
Previous Rates and Rates no longer available
Bounce Back Loans
No longer available
- For loans from £2,000 to £50,000 (up to 25% of business turnover)
- Nothing to pay for the first 12 months
- Loan repayment term of six years
- Fixed Rate of 2.5% per annum*** after the first 12 months
- Early repayment is permitted at any stage without early repayment fees
Definitions:
***Simple Interest Rate is the rate at which daily interest accrues on the loan (not compounded)
Business Credit Card
We no longer offer TSB Business Credit Cards and we discontinued our cards for existing customers from 11 May 2021.
Representative Annual Percentage Rate (APR) 17.6% (variable)
Please note: Other fees and charges may be applicable for example late payment fees or for cash withdrawals. For more information please see Business Credit Card
