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Best Rates - Business Notice Accounts

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Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per business per institution. The deposits of most businesses are covered up to the £85,000 limit, but businesses should check with their bank before they apply as there are exclusions.

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Notice account basics

Michelle Monck

Michelle Monck

Consumer Finance Expert

At a glance

  • Higher savings balances can earn better rates of interest.
  • Fixed savings bonds and notice accounts can offer higher interest rates for money your charity doesn’t need short term access to.

Notice business savings FAQs

Can I open a notice account for my business?

Yes, most notice business accounts are available to a range of organisations, from the self-employed, micro businesses through to private limited companies.

How much money do I need to open a notice savings account for my company?

There are notice accounts available for businesses that start with a minimum deposit of £1.

How do I get the best savings rate for my notice business savings account?

A higher balance could get you a higher rate, usually some of the better rates start from £10,000. In addition, a longer notice period could also equate to a higher rate. However, it’s not always the case as some providers choose to be more competitive to secure business deposits and may offer improved rates for notice periods.

What is the difference between a business savings account with a notice period versus a business bond?

A bond will offer you a fixed rate of interest for a fixed duration of time, whereas notice accounts usually have a variable rate of interest. This means the bank or building society can change this rate at any time (subject to giving you written notice of the change in advance).

Both products usually include penalties if you try to access your funds before the notice period set or the fixed term ends.

Why not also look at our best rates for business bonds and easy access business savings accounts?

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