Compare Business Notice Accounts

Notice accounts are a great way for businesses to save money strategically. They work by offering higher interest rates, but you need to tell the bank before you take your money out. This makes them a good choice for businesses that want to earn more on their savings but still need to access their funds with some planning.

>>Read our main article on the Best Business Savings Accounts

Business Notice Accounts

Allica Bank 180-Day Notice Savings Account Issue 1

• Interest Rate: 5.01% AER (variable), illustrating the interest rate if it was paid and compounded once each year.
• Access: Withdrawals are permitted with 180 days’ notice, offering flexibility without a fixed term.
• Minimum Balance: Open an account with a minimum deposit of £20,000; the maximum investment limit is £2,000,000.
• Fees: There are no fees for using this savings account, ensuring cost-effective saving for businesses.
• Benefits: Flexible saving with no fixed term, online application for ease and convenience, and FSCS protection up to £85,000.
• Eligibility: UK-based businesses registered with Companies House, possessing a UK business bank account. All controlling persons and significant owners must be resident in the UK and over 18 years old.
• Application: Applications are made entirely online, requiring access to the internet and a mobile phone for security checks. Deposit between £20,000 and £2,000,000 to start saving.
• FSCS Protection: Deposits are FSCS protected up to £85,000, safeguarding your investment in the event of the bank’s failure.

Market Harborough BS Business 180 Day Notice Account

• Interest Rate: 4.88% Gross/5.00% AER, calculated daily and paid monthly. Interest becomes visible from the 24th but is accessible at the end of the month.
• Access: Requires 180 days’ notice for withdrawals, with no possibility for early withdrawal, even with a penalty.
• Minimum Balance: Account opening requires a minimum deposit of £10,000, with a maximum limit of £500,000.
• Fees: Interest is paid without tax deducted. Savers may need to arrange payment of any due tax on interest with HMRC directly.
• Benefits: Monthly interest payments and the convenience of online account management through the Online Service.
• Eligibility: Designed for individuals using personal savings, who can adhere to the 180-day notice period for accessing funds.
• Application: Via the Online Service, accessible by clicking the ‘Apply now’ button.
• FSCS Protection: Eligible deposits are protected by the FSCS up to £85,000, offering security to your savings.

United Trust Bank Business 200 Day Notice Issue 2

• Interest Rate: 5.00% Gross/AER, calculated daily and paid annually on 31st October, and at the time of account closure.
• Access: Requires 200 days’ notice for withdrawals, with no option for early withdrawal, ensuring disciplined savings planning.
• Minimum Balance: Account opening requires a minimum deposit of £5,000, with a maximum limit of £1 million.
• Fees: Interest is paid gross, meaning without tax deducted. Account holders may need to manage tax obligations directly with HMRC.
• Benefits: The account offers a competitive interest rate, annual interest payments, and flexible management via email, post, or telephone.
• Eligibility: Available to a range of business entities including limited companies, sole traders, education providers, clubs, societies, trusts, credit unions, or pension funds. A transactional UK bank account in the business’s name is required.
• Application: Can be opened by post or online. The account must be funded within 14 days from application submission, either electronically or by cheque, from a nominated account.
• FSCS Protection: Protected up to £85,000 by the Financial Services Compensation Scheme.

Harpenden BS 95 Days’ Notice – Business Savings Issue 1

• Interest Rate: 4.52% Gross PA / AER, calculated daily and added to the account annually on 31st December.
• Access: Withdrawals require 95 days’ notice, with no options for early withdrawal, maintaining disciplined savings management.
• Minimum Balance: Account opening requires a minimum deposit of £10,000, with a maximum limit of £250,000.
• Fees: Interest is paid gross, indicating no tax is deducted at source. Account holders may have tax obligations directly with HMRC.
• Benefits: Allows UK-based SME and Micro Enterprise businesses to earn interest on surplus funds with the flexibility of managing the account by post or online.
• Eligibility: Open to limited companies, partnerships, and LLPs, supporting one account of this type per business. Identification requirements apply to users and shareholding directors.
• Application: Exclusively through an online application form, requiring the account to be funded within 14 days of opening to avoid cancellation.
• FSCS Protection: Interest and savings are protected without the deduction of tax, aligning with UK business savings account standards.

Redwood Bank 95 Day Business Savings Account Issue 16

• Interest Rate: 4.55% AER (variable gross), calculated daily and paid into the account either monthly or annually. The rate applies to balances of £10,000 or more.
• Access: Requires 95 days’ notice for withdrawals. Requests must be received by 4pm on a working day to be processed the next or following working day, depending on the withdrawal amount.
• Minimum Balance: Account opening requires a minimum deposit of £10,000, with a maximum balance of £1 million per account.
• Fees: Interest is paid gross, meaning no tax is deducted at the source. Account holders may have to manage tax obligations directly with HMRC.
• Benefits: Competitive AER, offering a rewarding rate for balances over £10,000, with the flexibility of managing the account online, by post, or over the phone.
• Eligibility: Available to UK-based businesses, including limited companies, partnerships, LLPs, and sole traders. Each customer can hold a maximum of £2 million across all Redwood Bank savings accounts.
• Application: Can be initiated online or by post. The account starts earning interest on the working day funds are received, with a 14-day period from account opening to meet the minimum deposit requirement.
• FSCS Protection: Protected up to £85,000 by the Financial Services Compensation Scheme.

Cambridge & Counties Bank 95 Day Business Notice Account Issue 23

• Interest Rate: 4.50% Gross/AER (variable), calculated daily and available for monthly or annual payment. This rate applies for balances of £10k or more.
• Access: Requires 95 days’ notice for withdrawals, with no option for early access, ensuring structured financial planning.
• Minimum Balance: Open an account with a minimum deposit of £10,000; the maximum balance allowed is £3 million.
• Fees: Interest is paid gross, meaning tax is not automatically deducted. Account holders are responsible for any tax due to HMRC.
• Benefits: Competitive interest rates and the ability to manage the account online, by phone, or post. Direct support from a UK-based team enhances the service.
• Eligibility: Open to UK-based or incorporated academy schools, charitable companies, limited companies, and sole traders. All account-related individuals must be over 18 and UK tax liable.
• Application: Available through an online application process. The account must be funded from a nominated UK Bank or Building Society current account.
• FSCS Protection: Protected up to £85,000 by the Financial Services Compensation Scheme.

Recognise Bank Business 180 Day Notice Account Issue 1

• Interest Rate: 4.50% AER/Gross annually or 4.41% Gross monthly, variable. Interest calculated daily and can be paid into the account monthly or annually.
• Access: Withdrawals are allowed with 180 days’ notice, without the option for early withdrawal, providing a balance between earning potential and access to funds.
• Minimum Balance: The account can be opened with a minimum deposit of £1,000; the maximum balance allowed is £250,000 for Limited Companies and LLPs, and £85,000 for all other eligible businesses.
• Fees: No account opening or maintenance fees, offering a cost-effective way for businesses to save. Interest is paid gross, requiring account holders to manage tax obligations with HMRC directly.
• Benefits: Competitive interest rates for short-term savings with the flexibility of making regular deposits. Up to 4 individuals can manage the account, facilitating collaborative financial management.
• Eligibility: Open to UK-registered academy schools, charitable companies, limited companies, and sole traders where all related parties are UK tax liable. All individuals associated with the account must be over 18.
• Application: Easy online application process, allowing businesses to open an account in minutes and manage their savings online, with the option for support from a dedicated team.
• FSCS Protection: Deposits are protected up to £85,000 by the FSCS, ensuring safety and peace of mind for your business savings.

Business Notice Accounts Explained

What is a business notice savings account

A business notice savings account is a type of savings account designed for businesses that wish to earn interest on their surplus cash. This account requires the account holder to give a set period of notice—typically ranging from 30 to 120 days or more—before making withdrawals. This notice period is a key feature that distinguishes it from instant access savings accounts, where funds can be withdrawn immediately.

FAQs