- Day-to-day banking
Day-to-day banking
Our day-to-day banking services cover everything you need to run your company finances, from accepting credit card payments to paying your bills.
- Finance
Finance
At Santander, we understand that to expand your operation you need access to finance. Here you’ll find a range of options suited to short and long-term needs.
- International trade
International
We’re focused on bringing a fresh perspective to businesses with ambitions to grow beyond traditional markets.
Our extensive local networks and knowledge around the world means we’re ideally placed to support your international trade plans. Let us help you uncover the path to international success.
- Sectors expertise
Sector expertise
Our sector specialists are here to help you prosper.
We understand the complexity and evolving needs of businesses in a wide range of industries. Our experts will work with you to help turn your aspirations into reality.
- Insights & events
Insight & events
Read the latest Santander news, market developments and insights, as well as register your interest to attend our events held across the UK.
Bank of England Base Rate Change
On Thursday, 2 August 2018 the Bank of England base rate increased from 0.50% to 0.75%.
As a result of this, we’re reviewing our interest rates.
If you have a loan, overdraft, commercial mortgage or finance product read more here.
If you have a deposit or banking product read more here.
Loans, Overdrafts, Commercial Mortgages and Finance
Variable Rate Loans
If you have a variable rate loan that is linked to the Bank of England base rate then the interest rate will increase by 0.25%, in accordance with the terms of the agreement. This change will be effective from 2 August 2018.
Invoice Finance
If you are an Invoice Finance customer of Santander UK plc and the Discount Rate applied under your sales finance agreement with us is linked to the Bank of England base rate for your GBP facility then the Discount Rate (and resulting Discount Charge) you are charged will increase by 0.25% from 2 August 2018.
Asset Finance
If you have a Hire Purchase or Finance Lease agreement with Santander Asset Finance and the interest rate is linked to the Bank of England base rate then the interest rate will increase by 0.25%. This change will be effective from 2 August 2018.
Commercial Mortgages
If you have a variable rate Commercial Mortgage that is linked to the Bank of England base rate, and your facility agreement does not include a Minimum Lending Rate (MLR), then the interest rate will increase by 0.25%, in accordance with the terms of the agreement. This change will be effective from 2 August 2018.
If your Commercial Mortgage facility agreement does have a Minimum Lending Rate, your interest rate will increase if the Bank of England base rate plus the agreed Margin exceeds the Minimum Lending Rate.
| Examples for illustrative purposes only | |||||
|---|---|---|---|---|---|
| Examples. Minimum Lending Rate 5.00% | Margin | BoE Base Rate existing 0.50% | BoE Base Rate increase to 0.75% | ||
| Margin plus BoE Base Rate | Existing interest rate charged | Margin plus BoE Base Rate | New interest rate charged | ||
| Interest rate charged increases as margin plus BoE base rate is higher than the Minimum Lending Rate | 4.45% | 4.95% | 5.00% | 5.20% | 5.20% |
| Interest rate charged increases as margin plus BoE base rate is higher than the Minimum Lending Rate | 5.00% | 5.50% | 5.50% | 5.75% | 5.75% |
| Interest rate charged increases as margin plus BoE base rate is higher than the Minimum Lending Rate | 4.05% | 4.55% | 5.00% | 4.80% | 5.00% |
GBP Overdrafts (including Commercial Notional Pooling & GBP accounts in Cross Currency Overdraft structures)
Arranged Overdrafts
Our Arranged Overdraft interest rate is linked to the Bank of England base rate, so will increase by 0.25%. This change will be effective from 1 September 2018.
Unarranged Overdrafts
Our Unarranged Overdraft interest rate is linked to the Bank of England base rate so will increase by 0.25%. This change will be effective from 1 September 2018.
For all products
Please note that the information provided is based on our standard Terms and Conditions. Your individual facility letter or agreement may differ and therefore we recommend that you refer to these documents and the Terms and Conditions which were issued with it.
If you have any questions please contact your relationship team.
SCC Banking and Deposit Products
We’re reviewing our interest rates and we will notify you of any changes to your account. Changes to rates will be communicated on our website.
Products linked to the Bank of England base rate
All savings and current accounts with interest rates linked to the Bank of England base rate will increase by 0.25% on 1 September 2018.
