Business saver (7 day notice)

You should read this product information carefully in conjunction with our Savings Terms and Conditions and ID for customers to ensure you understand the features and conditions of what you are buying. Our savings accounts are only available to UK residents. We recommend you contact your local branch to make an appointment before delivering your completed application form.

Savings Features

Account name 

• Business saver (7 day notice)

What is the interest rate? 

Interest rate band
Interest rate

£250,000+

£100,000+

£50,000+

£25,000+

£500+

2.50% Gross/AER variable

2.50% Gross/AER variable

2.50% Gross/AER variable

2.50% Gross/AER variable

2.50% Gross/AER variable

• Interest is variable and is calculated daily and paid on 31 October or upon closure. Annual interest can be credited to this account, or another Newbury Building Society account (in the name of the company) or paid out via BACs to the company's nominated bank account.
• Rate of interest payable depends on individual circumstances and may be subject to change in the future.
• If the balance falls below the minimum operating balance, a variable rate of 1.50% gross/AER will be paid.

Can Newbury Building Society change the interest rate? 

• You will be notified of any material downward rate change by letter or secure message.
• The rate can be changed in accordance with our Savings terms and conditions. These can be accessed in branch and online at www.newbury.co.uk.

What would the estimated balance be after 12 months? 

Interest rate band
Estimated balance

£250,000+
 

£100,000+
 

£50,000+
 

£25,000+
 

£500+

£256,250.00 (based on a £250,000 deposit)

£102,500.00 (based on a £100,000 deposit)

£51,250.00 (based on a £50,000 deposit)

£25,625.00 (based on a £25,000 deposit)

£1,025.00 (based on a £1,000 deposit)

• This estimation is for illustrative purposes only and does not reflect individual circumstances.

How do I open and manage my account? 

• This account is available to Limited Companies (LTD) or Limited Liability Partnerships (LLP) whose trading address is within our operating area as defined in 'Important notes' below.
• This account can be opened and operated in branch. Once opened, the account can be operated online (subject to only one signature being required for withdrawals).
• The minimum opening and operating balance is £500.
• Account holder/s must be resident in England or Wales.
• The maximum opening and operating balance is £1,500,000
• Deposits can only be made by cheque or by electronic transfer (from the company bank account).

Can I withdraw money? 

• 7 day's notice is required for all withdrawals; there is no option to withdraw early with a penalty. Once notice has been given, withdrawals can be made:
• By cheque against cleared funds in branch.
• By electronic payment in branch to your nominated account (up to £50,000).
• Via the myaccounts online service to your nominated account (up to £50,000).
• By CHAPS for electronic payments to your nominated account (over £50,000).
• The minimum withdrawal allowed on the account is £1,000.

Additional information 

• Tax status - From 6 April 2016, HMRC introduced a Personal Savings Allowance for individuals and as a result interest on savings is paid gross of tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. For further information go to www.GOV.uk.