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31 Day Business Notice Account

1.10% Gross/AER Variable

A cash balance in your business account is nice to have but it’s even better if it makes extra money for you. Move some of your cash across to one of our Notice Accounts and you can earn attractive rates of interest. And if you do need to access your funds all you have to do is give us 31 days’ notice.

Facts

1.10%
gross/AER variable
Invest between
£10,000 & £3m
31 days’
notice to withdraw your funds
No early withdrawals

Key features

Never pay to transact on your account
Speak directly to our UK team
Simple application process
We accept applications from Sole Traders, Partnerships, Limited Companies, Limited Liability Partnerships, Charities, Societies, Clubs, Associations, Trusts and Parish Councils

Key Features

Never pay to transact on your account
Speak directly to our UK team
Simple application process
We accept applications from Sole Traders, Partnerships, Limited Companies, Limited Liability Partnerships, Charities, Societies, Clubs, Associations, Trusts and Parish Councils

Detail

Summary box

Account Name

31 Day Notice Business Account Issue 2

What is the interest rate?

Where the balance on the account is £10,000 or more, the interest rate will be 1.10% Gross/AER (monthly 1.09%) variable.

  • We calculate interest daily and on 30th April every year, we add that interest to your account.
  • With an account where interest is paid monthly, we will pay the interest into your account on the last day of each month.
  • Interest is always paid as a gross amount.
  • Interest can be added to your Notice Account or to your linked nominated business current account.
Can Cambridge & Counties Bank change the interest rate?

The rate is variable, which means that Cambridge & Counties Bank can change the interest rate on the account.

We will always give you notice if the rate decreases. The circumstances in which Cambridge & Counties Bank has the right to change the interest rate are explained in the Terms & Conditions, section 15.

 

What would the estimated balance be after 12 months based on a £10,000 deposit?

£10,110.25 annual/£10,109.55 monthly.

These figures are based on an initial £10,000 deposit, retaining that balance for 12 months (including interest for monthly option), not making any withdrawals and the interest rate remaining the same. This assumes the full funds are cleared in your account on the day your account is opened.

How do I open and manage my account?

Open

  • You’ll need to make a minimum deposit of £10,000, the most you can deposit is £3m (£5m per entity overall with Cambridge & Counties Bank). This is a condition of the account.
  • If the balance of the account drops below £10,000, the interest rate will drop to 0.1% Gross/AER on the balance.
  • The initial deposit must come from your nominated business current account by cheque or transfer. Once you have made your initial deposit, any deposits or withdrawals must be via your nominated business current account.
  • It’s easy to apply using our application form which is available on our website, or call our team on 0344 225 3939* and we can send you one.
  • You can apply for an account if you are a UK based Sole Trader, Partnership, Limited Company, Limited Liability Partnership, Charity, Society, Club, Association, Trust or Parish Council.
  • All account holders must be aged 18 or over, resident in the UK and only liable to pay tax in the UK.

Manage

  • You can manage your account via our online account access facility, or by post.
  • To contact us about your account, email savings@ccbank.co.uk or call us on 0344 225 3939* and speak to our UK-based team who will be available to take your calls between 9am-5pm Monday to Friday, excluding Bank Holidays.
Can I withdraw money?

If you would like to make a withdrawal, you will need to give 31 days’ notice through online access, by post, fax or email. Once the notice period has passed, we’ll transfer the agreed funds to your nominated business current account. We use a faster payment system so the funds will appear in your account on the following working day.

Early withdrawals can’t be made by paying an interest penalty, the full notice period must always be given.

Additional Information
  • Changed your mind? If you are a micro-enterprise or charity, with an annual income of less than £1m, you can close your account within the first 14 days of the account opening date, without paying any penalty.
  • Statements are issued annually on the anniversary of the account opening. Statements can be issued monthly or quarterly on request.
  • There are no transaction charges on your account, however we may charge for additional services such as requesting a copy of a statement (currently £5 per statement).
  • AER (Annual Equivalent Rate) illustrates what the interest rate would be if the interest was paid and compounded once each year.
  • We’re a member of the Financial Services Compensation Scheme (FSCS). The FSCS protects the deposits of customers and organisations. Cambridge & Counties Bank does not share a licence with any other institution and therefore eligible parties are entitled to the full amount of cover with us. For more information and to check eligibility please view the FSCS leaflet or visit the FSCS website: www.fscs.org.uk.

Apply

To apply download our
application form

Download
Terms & conditions

The completed application form should be sent with a cheque drawn on your existing current account (made payable to the name of your organisation) to:

Cambridge & Counties Bank, Savings Account Opening
Charnwood Court, New Walk, Leicester LE1 6TE

If you are unable to send a cheque with your application, you must send an original bank statement (dated in the last 12 months) for your nominated current account.

You do not need to send any identification documents with your application at this stage as we use an electronic identification process. If we are unable to verify the identity of any of the account parties, we will be in touch to confirm the additional documents we need.