Earn a higher rate on your business savings if you’re able to give at least 95 days’ notice before taking money out
Our Business 95 Day Saver accounts are for businesses and organisations that:
- employ up to 250 people
- have a turnover or assets of up to £45 million
For more details on eligibility click here.
With our Business 95 Day Saver account, you can:
- earn up to 0.55% gross p.a/AER (variable)
- have the flexibility to pay in as often as you like, with a minimum initial deposit of £10,000, up to a maximum balance of £10 million
- choose for your interest to be paid monthly or annually
- withdraw money (minimum withdrawal of £500) or close the account with 95 days’ notice - withdrawals are not allowed without 95 days' notice
- manage your account by post, fax or a signed PDF instruction attached to an email, giving a minimum of 95 days’ notice before taking money out
For help on how to use your account, please visit our Using your account page.
Interest rates for our Business 95 Day Saver account
0.55% gross p.a.
0.50% gross p.a.
Effective from 7 December 2016
Rates are variable. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross p.a. is the interest rate without tax deducted. Interest can be paid monthly or annually.
This summary box sets out the key features of the savings account. For full details, please read our Standard Terms and Conditions before you apply.
|Account name||Business 95-Day Saver|
|What is the interest rate?||You can choose to have interest paid monthly or annually.|
|Annual Interest gross p.a./AER (variable)||Monthly Interest gross p.a./AER (variable)|
|Interest is calculated daily, and paid either annually on 31 March or monthly on the first working day of each calendar month.
Interest can be paid into the account, into your Nominated Account, or any other Business Saver Account or Corporate Saver Account that you have with us. Please see sections 57, 58 and 60 of the Business Saver Accounts Terms and Conditions. Please see Additional Information below for further information on Nominated Accounts. We also pay interest when you close your account and we add this to the capital value of the account.
|Can Nationwide change the interest rate?||Yes, the interest rate is variable. We can increase or decrease the interest rate for any of the reasons set out in the Business Saver Account Terms and Conditions.
Please see section 94 of the Business Saver Accounts Terms and Conditions for details about why we may change the interest rates and how we will tell you about any rate changes.
|What would the estimated balance be after 12 months based on a £10,000 deposit?||This shows the balance on an initial deposit of £10,000 over 12 months where interest is either paid annually or monthly into the account.|
|Interest rate gross p.a./AER (variable)||Balance at end of 12 months with interest|
|This projection is provided for illustrative purposes only, it assumes that:
|How do I open and manage my account?||To open this account you must be a:|
a) Privately or publicly owned limited company incorporated in the UK;
b) Charity registered in the UK;
c) Unincorporated body (e.g. Club, Parish Council) based in the UK;
d) UK sole trader/partnership; or an
e) Personal and corporate trustees of express trusts created in the UK.
You can open this account:
|Can I withdraw money?||Yes, you can withdraw money from your account by giving us at least 95 days’ notice via post, fax or a signed PDF instruction attached to an email.
The minimum amount you can withdraw is £500.
When we receive your payment instruction you will receive confirmation of the date your funds will be released into your nominated account.
Notice starts on the day we receive complete instructions from you, provided we get them before 4pm. If we receive a notice when our office is closed or after 4pm on a working day, then we’ll process it on the next working day. If your notice expires on a day when our office isn’t open for banking business, we’ll act on your withdrawal on the next working day.
Please note that if the account balance falls below £10,000, then you won’t earn interest until the account returns to the minimum balance of £10,000.
|Additional information||If there has been a transaction on your account you will receive a full statement on the first working day of the next calendar month.
Your Nominated Account
Your nominated account is where we’ll send your money to when you make a withdrawal request. Your nominated account must be an existing UK based business account in the name of your business and be able to receive CHAPS payments. Please see sections 62 of the Business Saver Accounts Terms and Conditions for further details.
Interest rate definitions explained
The interest rates and information in this summary box are correct as at 02 November 2016.
FSCS - Protecting your money
Your eligible deposits with Nationwide Building Society are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Nationwide Building Society and Nationwide UK (Ireland). Any total deposits you hold above the limit between these brands are unlikely to be covered.
If you'd like to view rates for older products, please visit our Business Savings Historic Rates page.
If you'd like to view the summary for older products, please visit our Business Savings Historic Summary Boxes page.
If you’re an existing customer please visit our Business Savings Terms and Conditions page to view the Terms and Conditions for your existing product.
For details on how we use your information, please read our Use of information statement.