Agree to 100 days’ notice, and we’ll pay you 4.51% 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 4.51% 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 or monthly.
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 and the
100 Day Notice Business Account Issue 21
Interest rate for balances of £5,000 or more:
Gross / AER (Variable); 4.51%
Interest rate where the balance falls below the minimum account opening balance;
Gross / AER (Variable); 0.05%
Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.
The interest rate is variable and may be altered in accordance with our Terms and Conditions for Business Savings Accounts.
A deposit of £5,000 at an annual Gross rate of 4.51% (variable) would generate an estimated balance of £5,226 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.)
You can open an account if:
After opening your account, you can manage it online through our eSavings portal.
Please note:
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.
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
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.