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Apply for a 120 Day Notice

Plan ahead and get a better rate

The notice account is a straightforward idea. It simply pays more interest than an easy access account, for a bit more planning. Let us know in advance when you want your money, and we’ll pay you an attractive variable rate.

120 Day Notice Issue 41
AER
1.45%
Gross
1.45% Annually

 

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

120 Day Notice Personal Account Issue 41

 

What is the interest rate?

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

Gross / AER (Variable); 1.45%

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

Gross / AER (Variable); 0.05%

Interest is calculated daily. We credit the interest on the anniversary of the date of receipt of your first deposit.

 

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 1.45% (variable) would generate an estimated balance of £1,015 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 online through secure message, email 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 120 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/pra

Notice savings accounts

Let us know in advance when you want your cash, and we’ll give you a better rate

If you can plan ahead and give us notice when you want access to your money, you can earn an attractive rate of interest.

Notice accounts give you more flexibility than fixed rate bonds as you don’t need to lock your money away for a specific period of time, and they normally pay more interest than easy access accounts. Typically, you’ll be asked to tell us around 120 days - about four months - before you withdraw your cash.

A notice account could be a good way to save if you have a specific goal in mind - like a wedding or major purchase, as it is more flexible than a fixed bond, but don’t forget how much notice you will have to give to access your money.

 

120 Day Notice Issue 41 Summary PDF
AER
1.45%
Gross
1.45% Annually
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

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