Business 120 Day
Making your money work harder
|Gross* / AER** %|
Interest is paid annually on 31 January and can be added to your Business 120 Day account or paid direct to your business bank account. Once added to the account interest becomes subject to the same withdrawal conditions as the capital.
If the balance falls below the minimum of £10,000, the rate on the Business Easy Access, at that time, will apply until the minimum balance is reached again.
*Interest is paid without tax deducted. Some savers will be required to pay tax on savings interest; this should be arranged directly with HMRC through your tax return.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
This projection is for illustrative purposes only.
If £10,000 was deposited on 1 February, on 31 January the account balance would be £10,135.00. This assumes no further deposits or withdrawals are made, no changes are made to the current interest rate and interest earned is added to the account.
You can open and manage this account online or in branch.
Signatories must be permanent UK residents and aged 18 or over.
You can pay into your account by electronic payment or by cheque.
Cash deposits are not permitted.
The minimum balance is £10,000 and the maximum balance is £500,000 per business.
Customers may hold more than one Business 120 Day account, but the maximum holding in all accounts with the Society is £500,000 per business.
This product may be withdrawn from sale at any time without notice.
We reserve the right to prohibit any further deposits into this product.
We reserve the right to close your account and return the funds to you.
This is a deposit account, not a share account. Deposit account customers do not become members of the Society, and therefore have no voting rights or entitlement to windfall benefits in the event of a merger or takeover.
For full terms and conditions for savings accounts, please refer to our General Savings Account Terms and Conditions.