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Apply for a 45 Day Notice Account

Plan ahead and get a better rate

The notice account is a straightforward idea. Let us know in advance when you want your money, and we’ll pay you an attractive variable rate.

45 Day Notice Account Issue 11
AER
1.25% Variable
Gross
1.25% Annually
1.24% Monthly

 

Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.

 

Account Name

45 Day Notice Personal Account Issue 11

 

What is the interest rate?

Interest rate for balances of £1,000 or more:

Annual Interest (Variable) 1.25% Gross / AER 
Monthly Interest (Variable) 1.24% Gross / 1.25% AER

Interest rate where the balance falls below the minimum account opening balance;

0.05% Gross/AER (Variable)

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 the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.

 

What would the estimated balance be after 12 months based on a £1,000 deposit?

A deposit of £1,000 at an annual Gross rate of 1.25% (variable) would generate an estimated balance of £1,013 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?

  • You can apply for this product online.
  • Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611.
  • Minimum account opening balance of £1,000.
  • Maximum account balance of £500,000.
  • The account is only available to individuals who are 18 years of age or over, permanently resident in the UK, are only liable for UK tax and can provide a UK bank account as a nominated account.

 

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.

Terms & Conditions for Personal Accounts

 

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 savings accounts

Notice savings accounts are ideal for earning an attractive rate of interest while having flexibility. Unlike fixed rate bonds, your money is not locked away for a set period. With a notice account, you just need to let us know in advance when you want to access your savings.

Notice accounts can be a good way to save for a future goal where you can plan ahead nearer to the time of purchase, such as buying a home or paying for a wedding.

At Shawbrook, we offer a choice of two notice periods with our 45 day notice account and 120 day notice account. Use our table below to compare and find the best notice savings account for you and learn more about the benefits.

 

Compare notice accounts

Explore the notice accounts we offer at Shawbrook below. Typically the longer the notice you opt for, the better rate you will receive.

45 Day Notice Account Issue 11 Summary PDF
AER
1.25% Variable
Gross
1.25% Annually
1.24% Monthly
Min Balance
£1,000
Max Balance
£500,000
120 Day Notice Account Issue 52 Summary PDF
AER
1.55% Variable
Gross
1.55% Annually
1.54% Monthly
Min Balance
£1,000
Max Balance
£500,000
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.

Terms & Conditions for Personal Accounts

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

About our notice accounts

We’ve put together some of the most important things to know about our notice savings accounts below. For information relating to a specific account, please click through on the comparison table above.

A notice savings account is a type of savings account that has no fixed term but requires a notice period before you can withdraw your money. They offer more flexibility than a fixed term account and typically pay more interest than an easy access account. They work best if you don’t want to lock your funds away for a long time but will know in advance when you need access to your savings.

The notice period will differ depending on the account you have chosen. At Shawbrook, we offer a 45 day notice account and a 120 day notice account. Our accounts mean that once someone has let us know they would like to withdraw their money, they will receive it in 45 or 120 days.

Although notice accounts are more flexible than a fixed rate bond, the notice period means they are not suitable for people who want to access their funds at any time. For those who want even more flexibility, an easy access account could be right for you.

Whether a notice savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:

  • Unlike a fixed term account (such as a 1 year fixed rate bond, for example), you don’t have to make new investment decisions at the end of the term. The money will remain in your account and keep gaining interest until you decide to withdraw, so you can leave it in the notice savings account for as long as you want
  • After the initial deposit, there is no minimum deposit amount so you can keep topping it up as and when you like
  • You’ll typically get a higher rate of interest than you would with an easy access savings account
  • Having a notice period can help you make more informed decisions and avoid the temptation of dipping into savings

At Shawbrook, we currently offer two different notice savings accounts — a 45 day notice account and a 120 day notice account. You can find out more about these and the rates available in our comparison table above.

The interest rate is variable and may alter per your account’s terms and conditions. You can find out more in ‘Section 17: Change To Interest Rates’ of our Terms & Conditions for Personal Savings Accounts.

Deposits

After you have opened an account and deposited at least £1000, making additional deposits is easy. You can 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

 

There is no minimum amount, and you can make as many deposits as you like.

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

 

Withdrawals

The notice you need to give to withdraw your money depends on the account you have chosen.

  • With a 45 day notice account, withdrawals are only available subject to 45 days’ notice.
  • With a 120 day notice account, withdrawals are only available subject to 120 days’ notice.

You can submit a withdrawal request online via our eSavings portal. Simply go to 'Messages', click on 'Create Message', select the product you wish to make a withdrawal from in the account list and select one of the withdrawal options.

 

Once your notice period has expired, we’ll release your funds to you.

It is simple to open and manage an account with Shawbrook.

  • You can apply for this product online
  • Once your account is open, you can operate the account through our eSavings portal or by telephone on 0345 266 6611
  • Minimum account opening balance of £1,000
  • Maximum account balance of £500,000
  • The account is only available to individuals who are 18 years of age or over, permanently reside in the UK, are only liable for UK tax and can provide a UK bank account as a nominated account