Business Accounts
For businesses looking to save, we are able to offer an Easy Access account ideal for putting cash to work to help with periodic business expenses such as VAT, corporation tax or utility bill payments.
Find out more in the product details below.
| Savings Product | Account Levels |
Interest Rate (AER1/Gross2) |
Interest Payable | Withdrawals | Access |
|---|---|---|---|---|---|
|
Easy Access Deposit (1st issue)
More Information |
£1 + | 0.50% | annually on 31 December |
Withdrawals, closure or transfers can be made without notice or loss of interest |
Post or Branch |
|
Business Deposit 40 Day Notice (1st issue)
More Information |
£1,000 + | 0.70% | annually on 31 December |
Withdrawals, closure or transfers are subject to 40 days written notice |
Post or Branch |
|
Business Deposit 90 Day Notice (2nd issue)
More Information |
£1,000 + | 1.05% | annually on 31 December |
Withdrawals, closure or transfers are subject to 90 days written notice |
Post or Branch |
Cancellation Rights
If you are not happy about your choice of account, you may cancel it within 14 days of:
The day you enter into the contract; or
The day on which you receive the contract terms and conditions and other information on paper or electronically; whichever is later
We will help you switch to another of our accounts or we will give you all your money back with any interest it has earned. We will ignore any notice period and any extra charges.
Charitable Assignment
All new customers opening a savings account will be required to sign a declaration agreeing to assign any windfall conversion benefits to the Charities Aid Foundation. This assignment will apply for the first 5 years of membership. Existing members with continuous membership prior to the effective date are not affected. Our Charitable Assignment Scheme leaflet provides full details.
Definitions
1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. AERs on the Monthly Income account assume interest is added to the account each month although in practice the option to have interest added in this way is not available.
2. The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.
^Tax free means exempt from UK income and capital gains tax in the hands of the investor.
These account details apply to personal investors only unless stated in the detailed information.