Business Lending rates
Business loans
Representative example
Unsecured fixed rate loans of £9,000 over 48 months 10.5% APR1 representative
Monthly repayment £228.28
Total repayable £10,957.29
Annual interest rate (fixed) 8.99%
The arrangement fee, in this example, £175, can be added to the loan making the total borrowing amount £9,175.
Unsecured fixed rate loans are available up to £25,000.
APR, repayments and the total repayable will vary depending on the loan amount applied for.
|
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), £1,000 to £10,000 over 1 to 25 years (base rate loans).
1APR means Annual Percentage Rate. This figure is based on the interest rate and how you repay the amount borrowed (the term of the loan, timing and repayment amounts). You can use it to compare different loan offers.
Rates correct at 2 August 2017
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Business overdrafts
Business overdraft of £7,000 over 12 months 11.36% EAR1 representative
Annual interest rate 10.81%2
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 Equivalent Annual Rate. This is the actual interest rate of an overdraft. It does not take account of any other charges for example unauthorised borrowing fees. For further information please see ‘Your account charges explained’ within Business Accounts
2Inclusive of Bank of England Bank Rate %
% per annum* Rate A 10.81% Rate B 9.61% Rate C 8.53% Rate D 7.81% Unauthorised borrowing 19.90% These interest rates are effective from 3 September 2018.
*Annual Rate ignores interest compounding.
Interest rates may vary from time to time in line with the Bank of England Bank Rate.
The unauthorised borrowing interest 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 Period of facility 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%
(min £250)0.75%
(min £250)1.5%
(min £250)Business Credit Card
Representative Annual Percentage Rate (APR) 22.4% (variable)
16.30% p.a. (variable) for Cash Withdrawals and all other Transactions.
An annual fee of £32 per card will apply.
Credit limits available between £1,000 and £10,000 depending on our assessment of your circumstances.
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
Before you apply
To apply for business lending from TSB you will need to confirm:
- You are a sole trader, partner or director
- You are aged 18 or over
- The borrowing is for business use
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Previous rates
Business overdrafts rates prior to 3 September 2018
% per annum* Rate A 10.56% Rate B 9.36% Rate C 8.28% Rate D 7.56% Unauthorised borrowing 19.9% These interest rates are effective from 1 December 2017.
Business overdrafts rates prior to 1 December 2017.
% per annum* Rate A 10.31% Rate B 9.11% Rate C 8.03% Rate D 7.31% Unauthorised borrowing 26.40% These interest rates are effective from 5 August 2017.
Business overdrafts rates prior to 5 August 2016
% per annum* Rate A 10.56% Rate B 9.36% Rate C 8.28% Rate D 7.56% Unauthorised borrowing 26.40% *Annual Rate ignores interest compounding.
Representative example
Unsecured base rate loans of £10,000 over 48 months 10.9% APR1 representative
Monthly repayment £255.39
Total repayable £12,258.49
Annual interest rate (variable) 9.45%
Representative of an unsecured base rate loan up to £10,000. In this example the loan amount is £10,000 and the arrangement fee of £175 is added to the loan to make total borrowing £10,175.
