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Apply for a 100 Day Business Notice

Agree to 100 days’ notice, and we’ll pay you 1.51% 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 1.51% 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.

100 Day Business Notice Issue 13
AER
1.51%
Gross
1.51% 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 and the 


Account Name

100 Day Notice Business Account Issue 13

 

What is the interest rate?

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

Gross / AER (Variable); 1.51%

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 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 £5,076 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?

  • The account is only available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP).
  • To open an account, you must be a UK-based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK.

    Apply online if you:

  • Are 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 or;

  • Are a Sole Trader or Partnership (excluding Limited Liability Partnerships) and;
  • You have no more than four signatories authorised to operate the account and do not hold an existing business savings account with us. Once your account has been opened online, you can operate the account through secure message or by telephone on 0345 266 6611.

    Apply by post if:

  • ​You do not meet the above criteria. Your application will need to be sent to Shawbrook Bank, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex, CM13 3BE. Once your account is opened it can be operated by post or by telephone on 0345 266 6611

  • Minimum account opening balance of £5,000.

  • Maximum account balance of £2,000,000.

  • 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.

 

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 13 Summary PDF
AER
1.51%
Gross
1.51% 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.

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