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Business Money Market Accounts

Apply for a Business Money Market Account
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Call us on 0345 850 1155*
If you have savings or surplus funds of over £5,000, you could take advantage of UK money market interest rates with one of our tailored savings accounts.

At a glance

For savings or surplus funds of £5,000 or more (minimum terms apply)

Call Deposit Account, Notice Deposit Account or Fixed Deposit Account

Keep track of your investments on-line, including transfer functionality for all Call/Notice accounts*

Transfer call and notice account balances online between 9am and 6pm Monday to Friday

No maximum investment limit

You could take advantage of UK money market interest rates

Key features and benefits of our accounts

Call Deposit Account
Notice Deposit Account
Fixed Deposit Account
Minimum Investment

£50,000

£50,000

£250,000 less than 7 days
£50,000 7 days to 3 months
£5,000 3 months to 5 years

Maximum Investment

No upper limit

No upper limit

No upper limit

Interest rate

Variable

Calculated daily

Paid in July and January or interest can be paid monthly or daily

Variable

Calculated daily

Paid in July and January or interest can be paid monthly

Interest fixed at start of term

Paid at maturity or upon anniversary for terms greater than 1 year. If deposit is over 6 months, interest can be paid monthly.

Period of investment

No minimum or maximum period

7 days
14 days
1 month
3 months
6 months

Choose from one day to 365 days, 2, 3, 4 or 5 years

Instant Access

Yes, no charge

Yes, subject to a fee (A charge of £60 will be applied if you instruct us to withdraw funds from your account without providing the agreed notice period)

You can’t withdraw any of the deposit before it matures if you’ve invested £50,000 or more. You can withdraw the full amount of the deposit, but not part only, before it matures if the balance is less than £50,000 for a charge of £100 (subject to change for new and renewed deposits, but not for deposits you already have).

Statements

Issued monthly on the day interest is paid, except for daily interest accounts, for which statements are issued monthly on the day of the month the account was originally opened

Issued when interest is paid

Issued annually

SUMMARY BOX

ACCOUNT NAME: BUSINESS MONEY MARKET CALL DEPOSIT ACCOUNT & BUSINESS MONEY MARKET NOTICE DEPOSIT ACCOUNT

What is the interest rate?

These accounts have variable credit interest rates that can change daily. You can find out the current rates by contacting the Money Market Office on 0345 850 1155*

Deposits for Call Deposit Accounts can be:

  • Standard deposits, monthly interest deposits or daily interest deposits

Deposits for Notice Deposit Accounts can be:

  • Standard deposits or monthly interest deposits

For standard deposits, we pay credit interest up to the end of June on 1 July and up to the end of December on 1 January each year.

For monthly interest deposits, we pay credit interest on the monthly anniversary of the day you opened your Account.

For daily interest deposits, we pay credit interest the day after we calculate it.

Interest goes into the Money Market account or paid directly to the linked sterling business account.

Can the Bank change the interest rate?

Yes, these accounts have variable interest rates that can change daily, so we won’t tell you about favourable or unfavourable changes to them.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit
Interest rate
Total balance at the end of the 12 months

£50,000

0.05% AER (0.05% Gross)

£50,025.00

For the purpose of this calculation, it is assumed:

  • Agreed negotiated credit interest: 0.05% (for indication purposes only)
  • Initial deposit of £50,000
  • No additional deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

How do I open and manage my account?

Eligibility:

You need a sterling business account (current or savings) before you can open a Business Money Market account.

How to open the account:

Open in branch, post, phone

Minimum/Maximum balance:

  • Minimum deposit of £50,000 for Call Deposit Accounts and Notice Deposit Accounts respectively
  • No maximum balance limit

How to manage the account: 

Once opened you can manage your account online, in branch or by phone.

Can I withdraw money?

Yes, you can make as many withdrawals as you like in line with the Business Money Market Account Additional Conditions

For Call Deposit Accounts, no notice is required. For Notice Deposit Accounts, prior notice is required and we will charge a fee of £60 for immediate withdrawals where insufficient notice is given.

Additional Information

Definitions:

  • AER stands for annual equivalent rate. A notional rate which illustrates what the gross rate would be if interest was paid and compounded each year.
  • Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

BUSINESS MONEY MARKET FIXED DEPOSIT ACCOUNT

What is the interest rate?

We pay credit interest at a fixed interest rate and the rate is set when you open your account. We calculate interest based on your available balance each day

  • For fixed deposits of less than 6 months - interest is paid when the deposit matures
  • For fixed deposits between 6 & 12 months - interest can be paid when the deposit matures or monthly on the same day of the month that you opened the account
  • For fixed deposits of more than 12 months - interest can be paid monthly on the same day of the month that you opened the account or annually on the anniversary of the day you opened your account

Can the Bank change the interest rate?

No, once the deposit has been placed the rate will remain fixed for the duration of the deposit and subsequent reinvestments or renewals will be priced at the prevailing interest rate.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit
Interest rate
Total balance at the end of the 12 months

£50,000

0.10% AER (0.10% Gross)

£50,050.00

For the purpose of this calculation, it is assumed:

  • Agreed negotiated credit interest: 0.10% (for indication purposes only)
  • Initial deposit of £50,000
  • No additional deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

How do I open and manage my account?

Eligibility:

You need a sterling business account (current or savings) before you can open this account. 

How to open the account:

Open in branch, post, phone

Minimum/Maximum balance:

  • Minimum deposit

    £250,000 for fixed deposits of less than seven days
    £50,000 for fixed deposits of three months to five years

  • No maximum balance limit

How to manage the account: 

Once opened you can manage your account online, in branch or by phone.

Can I withdraw money?

You can’t withdraw part only, but you can withdraw the full amount of the deposit before it matures if less than £50,000 for a charge of £100 (subject to change for new and renewed deposits, but not for deposits you already have).

You can’t withdraw any of the deposit before it matures if you’ve invested £50,000 or more.

 When your fixed deposit matures:

  • We can transfer all or part of the money into a sterling business current or business instant access savings account with us, or
  • Reinvest all or part of the money in a new fixed deposit on the prevailing interest rate and term

If you haven't given us any instructions about what to do, we'll renew it for the same length of time and amount, at the prevailing interest rate and terms.

Additional Information

Definitions:

  • AER stands for annual equivalent rate. A notional rate which illustrates what the gross rate would be if interest was paid and compounded each year
  • Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Important information

Business Banking terms and conditions

Read our current terms and conditions

Business Money Market accounts

Additional terms for our Business Money Market Accounts

Apply for a Business Money Market Account

Call us on 0345 850 1155*

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