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UK Interest Rates

The following is an explanation of the method used to calculate the final interest rates that apply to interest bearing accounts that you hold with the UK Branch of Silicon Valley Bank.

The interest rate is calculated by adding the Margin Rate applicable to the relevant currency to the Index Rate.

Interest on all accounts is calculated daily on the daily closing balance and applied to the account on a monthly basis gross of tax.

The calculation method for payment of interest on credit and debit balances depends on the currency of the account.

  1. For the following currencies, we will calculate interest daily over a 360 day year: Australian Dollar, Canadian Dollar, Danish Krone, Euro, Israeli Shekel, Japanese Yen, Norwegian Krone, New Zealand Dollar, Swedish Krona, Swiss Franc, United States Dollar.
  2. For the following currencies, we will calculate interest daily over a 365 day year: Chinese Renminbi, Great Britain Pound, Hong Kong Dollar, Singapore Dollar, South African Rand.

Index rates are linked to the external central bank rates for the relevant currencies. The reference rates can be found here.

These interest rates and margins apply to clients of the UK Branch.

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