Close

Apply for a 45 Day Business Notice

Agree to 45 days’ notice, and we’ll pay you 0.90% AER

It’s a straightforward idea. You simply give us 45 days' notice when you want to make a withdrawal and we pay you a competitive rate of 0.90% 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.

45 Day Business Notice Issue 7
AER
0.90% Variable
Gross
0.90% Annually
0.90% 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 


Account Name

45 Day Notice Business Account Issue 7

 

What is the interest rate?

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

Gross / AER (Variable); 0.90%

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.

 

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 0.90% (variable) would generate an estimated balance of £5,045 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) with no more than four account parties (including directors, shareholders or signatories)
  • 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, you can operate the account through secure message or by telephone on 0345 266 6611

If you:

  • Hold an existing business savings account with us (you can also send a secure message via your online eSavings portal) or;
  • Are a Limited Liability Partnership or;
  • Are 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

Then please call us 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 45 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

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.

Looking for something in particular?