To apply for this account your company must meet the following requirements:

• Be a UK registered company, institution or charity
• Depositing between £250,000 and £10 million per account

What is the interest rate?

Balances of £250,000 or more 
 

Balances falling below £250,000
 

Interest is calculated daily, compounded and is paid into the Corporate Notice Account twice-yearly on 01 January and 01 July.

*AER stands for Annual Equivalent Rate and illustrates the interest rate you would earn from a savings account over the course of a year, and it takes any compounding of interest into account. Gross PA means Gross Per Annum, which shows the interest rate payable without tax deducted.
 

Can Close Brothers Savings change the interest rate?

Yes, the interest rate is variable, so it can go up or down at any time. If the rate increases we may not provide notice. If we lower the interest rate, we'll let you know at least 30 days before it happens.

For more information please see clause 8 of the Product Terms and Conditions.

What would the estimated balance be after 12 months based on a £250,000 deposit?

Balances falling below £250,000

This example assumes:

• You deposit money when you open the account or the account balance if it falls below the minimum balance
• You don't add more money
• You don't withdraw any money
• The interest rate doesn't change
• Interest is paid twice, yearly.

How do I open and manage my account?

Opening the account

To apply for this account your company must meet the following requirements:

• Be a UK registered company, institution or charity
• Depositing between £250,000 and £10 million per account, and are comfortable with your funds being returned after the required notice period has been completed
• If you pay in £250,000 or more you will earn the full rate of interest. However, if you pay in less than £250,000, you'll receive a reduced interest rate.

You can send us your money by electronic transfer from your nominated bank account. Single or multiple bank transfers can be used to send us your deposit. You can add more money into your account at any time as long as you do not exceed the maximum account balance of £10 million.

This account can be applied for by post via our Business Development team.

Managing the account

Managing your account is easy, simply call or write to us.

A monthly statement will be sent out on the first working day of each month.

Can I withdraw money?

Yes, you can request to withdraw your money providing the correct notice of 95 days has been submitted to us. You can do this by phone or in writing. The minimum amount you may place on notice is £10,000.

Your money will be returned after the required notice period has been completed. Once you've submitted a withdrawal notice, it cannot be cancelled.

If your balance drops below £250,000, the interest rate will be 1.00% until it meets or exceeds £250,000.

If you close your account before the interest is paid, any earned interest will be added to your balance and sent to your nominated bank account. 

Additional information

Tax information

We don't deduct tax from the interest we pay you. Your tax benefits depend on your situation and may change in the future.

Key documents

It's important you take time to download and review the key product information, and terms and conditions for this account before applying.