Business Savings notice accounts

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 savings 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.

Best business account rates

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.

 

45 Day Business Notice Account

Plan ahead but with more flexibility than a fixed term bond

 

100 Day Business Notice Account

Enjoy an even higher rate with a longer notice period

45 Day Business Notice Issue 7 Summary PDF
AER
0.90% Variable
Gross
0.90% Annually
0.90% Monthly
Min Balance
£5,000
Max Balance
£2,000,000
100 Day Business Notice Issue 19 Summary PDF
AER
1.00% Variable
Gross
1.00% Annually
1.00% Monthly
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.

Regulation

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.

Business Savings Notice Accounts FAQs

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 savings notice account online if:

  • You are a sole trader or partnership (excluding limited liability partnerships) or;
  • Your business is a limited company (limited by shares or limited by guarantee) that has not appointed a corporate director, has at least one person with significant control registered at Companies House and no more than four shareholders and;
  • You have no more than four signatories authorised to operate the account and do not hold an existing business savings account with us.

 

You will need to contact us by telephone to open an account if:

  • Your business is a limited liability partnership;
  • You are opening the account for a limited company (limited by share or limited by guarantee) that has appointed a corporate director or does not have at least one person with significant control registered at Companies House or;
  • You hold an existing business savings account with us.


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 savings 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

 

We do not accept cheques as a method of funding your account.

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.

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