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Apply for a 1 Year Fixed Rate Business Savings Bond

Lock up your money for 1 year and we’ll guarantee the rate

In return for not making any withdrawals from your account during the fixed term you can earn 1.25% GROSS/AER over the next year.

 

1 Year Fixed Rate Business Savings Bond Issue 9
AER
1.25%
Gross
1.25% Annually

 

Before you apply for a fixed rate bond for business, it’s important that you understand the nature of the account and the terms applying to the product. Please read the product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.


Account Name

1 Year Fixed Rate Savings Bond Issue 9

 

What is the interest rate?

Interest rate for balances of £5,000 or more:

Annual Interest (Fixed) 1.25% Gross / AER

Interest is calculated daily. We credit the interest on the closure of your account.

 

Can Shawbrook Bank change the interest rate?

As the interest rate is fixed, the interest rate cannot be changed over the term of the account.

 

What would the estimated balance be after 12 months based on a £5,000 deposit?

A deposit of £5,000 at an annual Gross rate of 1.25% (fixed) would generate an estimated balance of £5,063 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the fixed interest rate over the period and interest is paid and compounded annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)

 

How do I open and manage the account?

  • You can only apply for this product by post at:

    Shawbrook Bank

    Lutea House
    Warley Hill Buisness Park
    The Drive
    Great Warley
    Brentwood
    Essex CM13 3BE 
  • The account can be operated by post or telephone on 0345 266 6611.
  • Minimum account opening balance of £5,000.
  • Maximum account balance of £2,000,000.
  • The account is only available if you are a sole trader, limited company, partnership or limited liability partnership. Companies and shareholding companies must be UK registered and only liable for UK tax
  • All partners/directors/members/sole traders/additional signatories and shareholders must be 18 or over.
  • The account is not available to Charities or Trusts

 

Can I withdraw money?

  • This account has a fixed term, so you can only withdraw your money without incurring any charges at the end of the fixed term (also known as ‘maturity’).
  • If the end of the fixed-term falls on a non-working day, your funds will be made available on the next working day.
  • We’ll write to you before maturity to remind you of the date that your fixed term ends.
  • At maturity, you can either withdraw your funds or transfer them into a new Shawbrook business account of your choice (subject to any specific account terms and conditions). If you do not let us know what you wish to do by the maturity date, your account will revert to a Business Matured Funds account and the interest rate will be confirmed to you in writing.

Additional information

  • Interest is paid Gross (tax free).

The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account. 

Important information

 

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.uk

 

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Terms & Conditions for Business Savings Accounts

 

Regulation 

Shawbrook is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/prudential-regulation

Fixed Rate Business Savings Bonds

Get a great rate when you lock up your money

If you have spare cash in your business, it makes sense to put it to work earning interest. And if you can commit to placing your money on deposit for a fixed term, you could get a great rate from Shawbrook.

A fixed rate bond could be ideal if you’re putting money aside for a specific period of time - for example, if you know you will have financial commitments to meet in a year’s time or more. You won’t be able to access the funds before the end of the term, but in return you’ll get an attractive rate

1 Year Fixed Rate Business Savings Bond Issue 9 Summary PDF
AER
1.25%
Gross
1.25% Annually
Min Balance
£5,000
Max Balance
£2,000,000
Terms explained

AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Terms & Conditions for Business Accounts

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