A business savings account is an excellent way to save any extra cash in your company and earn interest. Most interest-bearing business accounts offer a fairly unimpressive return. And you might not want to tie up your money in a fixed term bond for an extended period.
Shawbrook's business notice account is a great compromise. We'll give you a competitive rate if you let us know when you want your money ahead of time. So, when your business requires it, you can withdraw funds with no penalties, and once the notice period is over, you’ll receive your requested money.
We currently offer two business notice accounts. You can choose between our 45 day and 100 day accounts. It's easy to open an account with us, and you can deposit anywhere between £5,000 and £2,000,000.
If your business has a cash surplus, it is worth investing it into an account with better interest rates. In placing spare cash into a notice savings account, you could earn a competitive interest rate on the money you deposit.
Interest is calculated daily and will be paid on the anniversary of the date we received your first deposit — either monthly or annually, depending on the product you select.
The best business account rates can depend on several factors, including the length of the notice period.
Here at Shawbrook, you can choose between two different notice accounts and our business account rates differ based on the notice period you select. Explore our accounts and their AERs (Annual Equivalent Rate) below.
Plan ahead but with more flexibility than a fixed term bond
Enjoy an even higher rate with a longer notice period
| 45 Day Business Notice Issue 9 Summary PDF | ||||
|---|---|---|---|---|
|
AER
3.76%
Variable
|
Gross
3.76% Annually
3.70% Monthly
|
Min Balance
£5,000
|
Max Balance
£2,000,000
|
| 100 Day Business Notice Issue 21 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.51%
Variable
|
Gross
4.51% Annually
4.42% Monthly
|
Min Balance
£5,000
|
Max Balance
£2,000,000
|
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.
Shawbrook is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. The FCA and 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.
It’s important to have all the necessary information before opening an account. That’s why we prefer to keep our approach to business savings as simple as possible.
You can find more information about our business notice accounts by clicking through on the comparison table above.
Before deciding which is the best savings account to suit your needs, you may also find the below information about our business notice accounts useful.
You can apply for a business notice account online if:
You will need to contact us by telephone to open an account if:
To open an account, your business must be UK-based and all directors and beneficial owners must be at least 18 years old, a permanent UK resident, and only subject to UK tax.
After opening your account, you can manage it online through our eSavings portal.
Our business notice accounts have the same balance limits, with a minimum opening balance of £5,000 and a maximum balance of £2,000,000.
Depositing to your savings account is easy — just transfer your funds by electronic transfer from your nominated account using the following details:
Sort Code: 16-58-73
Account number: Your 8 digit Shawbrook savings account number
Reference: Your name as the payment reference
Withdrawals are only available subject to either a 45 day or a 100 day notice, depending on the account you selected.
For more information, please refer to your Key Product Information document.