SME Notice Account
Offering Small to Medium sized Enterprises a competitive rate with a notice period of 95 days to access your funds, and the freedom to top up at any time.
At a glance
Interest rate
Interest will be payable for balances between £25,000 to £1 million. Interest is not paid on balances below £25,000.
Variable rate
The interest rate on this account is variable, this means we may increase or decrease the rate of interest at any time.
Notice of changes
For interest rate reductions, we will always give you at least 1 month’s notice in advance of any changes being made.
Interest payments
Interest starts to accrue when your cleared funds are received. Interest is compounded and paid into your account twice-yearly on 1 January and 1 July.
Adding funds
The minimum opening deposit is £25,000 and the maximum is £1 million. You may place additional funds, ensuring they do not exceed the maximum balance.
Withdrawals
You can withdraw from, or close the account at any time, providing the correct notice has been provided to us. The minimum amount you can place on notice to withdraw from the account is £5,000. Once placed, notice cannot be cancelled or amended. All repayments will be credited to your nominated bank account at the end of the notice period. If all of your funds are repaid, we will close your account, or you may maintain a minimum balance of £25,000 to keep your account open.
Account holders
Once we have accepted your application, you will not be able to transfer into another account holder’s name unless we receive supporting documentation.
If you're looking to deposit over £1 million, get in touch with us so we can discuss your options.
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Additional information
Gross PA means Gross Per Annum, i.e. before tax is deducted (at the legal rate).
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.
At a glance
Interest rate
Interest will be payable for balances between £25,000 to £1 million. Interest is not paid on balances below £25,000.
Variable rate
The interest rate on this account is variable, this means we may increase or decrease the rate of interest at any time.
Notice of changes
For interest rate reductions, we will always give you at least 1 month’s notice in advance of any changes being made.
Interest payments
Interest starts to accrue when your cleared funds are received. Interest is compounded and paid into your account twice-yearly on 1 January and 1 July.
Adding funds
The minimum opening deposit is £25,000 and the maximum is £1 million. You may place additional funds, ensuring they do not exceed the maximum balance.
Withdrawals
You can withdraw from, or close the account at any time, providing the correct notice has been provided to us. The minimum amount you can place on notice to withdraw from the account is £5,000. Once placed, notice cannot be cancelled or amended. All repayments will be credited to your nominated bank account at the end of the notice period. If all of your funds are repaid, we will close your account, or you may maintain a minimum balance of £25,000 to keep your account open.
Account holders
Once we have accepted your application, you will not be able to transfer into another account holder’s name unless we receive supporting documentation.