SME Notice 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.