Nationwide Building Society has boosted the rates of selected business savings accounts by up to 0.20%. One of the accounts to benefit from an increase is the 95-day notice account, which has secured a place in the Moneyfacts charts as a result.
Business 95 Day Saver now pays 1.05% yearly (1.00% monthly), which allows it to sit among the top 10 accounts of its sector.
This account can be opened by businesses of 250 employees or less (additional restrictions also apply) by phone, post or online with an initial investment of at least £10,000. The account must then be managed by post, although savers should note that all access is via electronic transfer.
Additional deposits can be made at any time, although cash transfers are not accepted. Unlimited, penalty-free withdrawals are permitted but it is not possible to access funds early, so all withdrawals must abide by the 95-day notice period.
This notice account now offers business savers a competitive deal, securing a place in the Moneyfacts charts as a result. The flexibility of further additions and unlimited withdrawals make this an attractive deal, although the amount will have to be managed carefully, as early access to funds is not permitted.
Moneyfacts rating: Excellent
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