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Apply for a 100 Day Business Notice

Agree to 100 days’ notice, and we’ll pay you 1.00% AER

It’s a straightforward idea. You simply give us 100 days' notice when you want to make a withdrawal and we pay you a competitive rate of 1.00% GROSS/AER. The interest rate is variable and may be altered in accordance with our terms and conditions for Business Savings Accounts. Interest is paid annually.

100 Day Business Notice Issue 12
AER
1.00%
Gross
1.00% Annually

 

Before you apply for a notice account 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

100 Day Notice Personal Account Issue 12

 

What is the interest rate?

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

Gross / AER (Variable); 1.00%

Interest rate where the balance falls below the minimum account opening balance;

Gross / AER (Variable); 0.05%

Interest is calculated daily. We pay you the interest once a year on the 31st December and at the closure of your account.

 

Can Shawbrook Bank change the interest rate?

The Interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 15 Change To Interest Rates of our Terms and Conditions for Business Savings Accounts.

 

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 1.00% (variable) would generate an estimated balance of £5.050 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest paid 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 by post at:

    Shawbrook Bank
    Lutea House
    Warley Hill Business 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?

  • Withdrawals are only available subject to 100 days' notice.

 

Additional Information

Interest is paid Gross.

 

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.

 

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

Notice Accounts for Business

Make your cash work harder

If you have spare cash in your business, it makes sense to get it working. At current rates though, most business interest-bearing accounts offer a fairly unimpressive return. And you may not want to tie your money up for a long period in a fixed-term bond.

A notice account from Shawbrook is an excellent compromise. In return for letting us know in advance when you want your money, we’ll give you a competitive rate. So when your business needs it, you can request your money with no penalties, and once the notice period has ended your money is sent back to you.

 

100 Day Business Notice Issue 12 Summary PDF
AER
1.00%
Gross
1.00% 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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