Business Notice Accounts

Earn attractive rates of interest with our Business Notice Accounts and make more of your organisation's cash reserves.

Currently available**

Business Notice Account (BNA) Issue 6 interest rates.

 

Term account Managed rate¹                                                                                                          

Interest rate paid on notice account on balances from £50,000 and above.

Fixed rate²                                                                                                          

Indicative rate paid on funds on notice - Fixed rate (minimum sum £10,000)³.

  Gross PA* AER* Gross PA*
6 Month Notice Account  1.25%  1.25% 0.95%
12 Month Notice Account  1.60%  1.61% 1.25%

¹ Managed rate refers to a rate that we can change at any time. Such changes may be made without notice if the change is favourable to you. However, we must give you at least 1 month written notice of any reduction in rate. See our Customer Agreement (Terms and Conditions).

² The interest rate is fixed for the term of the account. No early access is permitted.

³ Interest rates paid on the fixed term deposits (for funds placed on notice) are reviewed weekly. Fixed rates displayed above are since 24 September 2018.

* Where rates are quoted Gross PA, this means Gross Per Annum before the deduction of tax at the rate agreed by law. AER stands for Annual Equivalent Rate and illustrates the annual rate of return assuming interest is paid and compounded once each year.

** This is a limited offer, subject to availability and may be withdrawn at any time without notice.

Business Notice Accounts

Summary box

To comply with regulations issued by the Financial Conduct Authority (FCA), we are required to show a cash illustration based on a £1,000 deposit amount. This is for illustration purposes only, the minimum deposit on this product is £50,000. To calculate the interest you will receive based on your specific deposit amount, please select the Personal illustration tab.

What is the interest rate?

Please note, interest is paid into the Business Notice Account semi-annually on 1 January and 1 July.

Managed rate paid on Business Notice Account

Product term Annual Equivalent Rate (AER)* Example amount Estimated balance after 12 months
6 months 1.25% £1,000.00 £1,012.50
12 months 1.61% £1,000.00 £1,016.10

Fixed rate for funds placed on notice

Product term Annual Equivalent Rate (AER)* Example amount Estimated balance after 12 months
6 months 0.95% £1,000.00 £1,009.50
12 months 1.25% £1,000.00 £1,012.50

* Annual Equivalent Rate illustrates what the interest rate would be if interest were paid and added each year.

Customer deposit interest calculator

Q1: Select the applicable BNA product feature*

Q2: How much would you like to deposit/place on notice?

£

Q3: Select the applicable product term

How the account works

Our Business Notice Accounts (BNA) are based on a standard notice account with your funds benefiting from our highly competitive rates of interest.

How the account works

1. Funds are deposited into the BNA and earn the beneficial Business Notice Account rate

How the account works

2. Once we receive a notice instruction from you, the requested sum is transferred to a fixed term deposit. The interest rate for the fixed term deposit is likely to be lower than the Business Notice Account rate

How the account works

3. The requested sum is returned to you on maturity of the fixed term deposit

On the day we receive a notice instruction telling us that you would like to withdraw funds from your Business Notice Account, the requested sum will be transferred out of the Business Notice Account and placed on a 6 or 12 month fixed term deposit (equivalent to the notice period on the BNA you hold), earning the prevailing market rate at that time. Please note that the prevailing rate for a fixed term deposit is likely to be lower than the Business Notice Account rate. A minimum balance of £50,000 must be maintained on the account and this balance will continue to receive interest at the Business Notice Account rate. Please note, the minimum sum that can be placed on notice is £10,000.

What you need to know

  • A minimum balance of £50,000 must be maintained at all times
  • Add to your deposit at any time up to the maximum balance of £5 million per 6 month Account and £10 million per 12 month Account
  • Interest is calculated daily and paid twice a year
  • No early withdrawals allowed
  • Notice cannot be rescinded on funds placed on notice
  • One account of each type per depositor permitted
  • Available to UK registered companies, UK institutions and UK registered charities
  • Local authorities, trusts, individual and pension deposits (SIPP/SSAS) are not eligible
  • **This is a limited offer, subject to availability and may be withdrawn at any time without notice
What do you need to know
To see the terms and conditions of the Business Notice Accounts in full, carefully read the guidance notes on pages 1 and 2 of the application form.

Apply now

1

Read our General Terms and Conditions and Privacy Policy.

 

2

Download the application form , then complete and sign.

 

3

Post the completed form with the relevant identity documentation to: Close Brothers Treasury, 4th Floor, 10 Crown Place, London EC2A 4FT.

 

General Terms and Conditions

This is our standard customer agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information. Copies of the General Terms and Conditions are available on this website or by telephoning us on 020 3857 3060.

For full details of how we collect and process your data, please read our Privacy Policy

Business Notice Account application form

Tax Residency - Self-certification declaration form for Entities and Trusts

Applicable fixed rates - for customers with existing Business Notice Accounts only

In accordance with the account's original terms and conditions, the below interest rates are the prevailing fixed rates that are applied to sums placed on notice.

Term account Fixed rate²                                                                                  

Indicative rate paid on funds on notice - Fixed rate (minimum sum £10,000)³.

  Gross PA*
3 Month Notice Account (Issues 1 and 2 only)  0.50%
6 Month Notice Account  0.95%
12 Month Notice Account  1.25%

 

* Where rates are quoted Gross PA, this means Gross Per Annum before the deduction of tax at the rate agreed by law. AER stands for Annual Equivalent Rate and illustrates the annual rate of return assuming interest is paid and compounded once each year.

² The interest rate is fixed for the term of the account. No early access is permitted.

³ Interest rates paid on the fixed term deposits (for funds placed on notice) are reviewed weekly. Fixed rates displayed above are since 24 September 2018.

Members of the FSCS

Your eligible deposits with Close Brothers Limited (and our associated trading styles of Close Brothers Treasury and Close Brothers Savings) are protected up to a total of £85,000 by the Financial Services Compensation Scheme ('FSCS'), the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Close Brothers Savings and Close Brothers Treasury. Any total deposits you hold above the £85,000 limit between these brands are not covered.

Read more here 

If you have an enquiry call us on: 020 3857 3060