Business 45 Day Saver

Our 45 Day Notice Account gives you the balance of earning a higher interest rate than on instant access and giving 45 days' notice before taking money out.

Why choose this account?

  • Earn up to 0.85% AER/gross p.a. (variable)
    You can have your interest paid monthly or annually.
  • Pay in whenever you like
    Start with at least £5,000 (up to £10 million, maximum), and make minimum withdrawals of £500 with 45 days’ notice*.
  • Manage your account by email, post or fax
    Making it easier to operate your account and make withdrawals*.
  • No fees or charges
    We won’t charge you a penny for any of our business savings accounts.

*Please note: No withdrawals can be made without 45 days’ notice.

Ready to apply?

Great. Start by checking our FAQs to see if you’re eligible for this account. If you're eligible, continue to read the Summary Box and Terms and Conditions, then apply online by clicking the button below. Please note the Business Savings General Terms and Conditions will be changing on 01 April 2019, you can find out more about the changes here.

For more on how to apply, see our ‘Opening an account’ page. You can also use our handy printable checklist.

Summary box

Account name Business 45 Day Saver - Issue 1
What is the interest rate? You can choose to have interest paid monthly or annually.
Annual Interest AER/gross p.a. (variable) Monthly Interest AER/gross p.a. (variable)
0.85% 0.80%

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 that you have with us. Please see the Business 45 Day Saver Account Specific Terms. 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 C of the Business Savings General 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 AER/gross p.a. (variable) Balance at end of 12 months with interest
Annual 0.85% £10,085.00
Monthly 0.80% £10,080.29

This projection is provided for illustrative purposes only, it assumes that:

  • Interest is paid into the account.
  • No further deposits or withdrawals are made.
  • There is no change to the interest rate.
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.
AND

  • Employ up to 250 employees.
  • Have an annual turnover or assets of up to £45 million.
  • Are not listed under our ineligible companies found on our FAQs.

NB. You will need to set up an existing UK based business account as your nominated account. This account must be in the name of your business and able to receive CHAPS payments.

You can open this account:

  • Online by visiting our business savings accounts page.
  • By requesting an application to be sent via post or email using the contact details via the above website.
  • You'll need at least £5,000 to open your account.
  • You'll need at least £1 to keep your account open.
  • You can make as many deposits as you want as long as the balance across for this account does not exceed £10,000,000.

You can manage your account:

  • By Post, Fax or signed PDF instruction attached to an email.
Can I withdraw money?

Yes, you can withdraw money from your account by giving us at least 45 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 £5,000, then you won’t earn interest until the account returns to the minimum balance of £5,000.

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 section B of the Business Savings General Terms and Conditions for further details.

Interest rate definitions explained

  • 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.

The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

The interest rate(s) is/are effective from 7 December 2018 and the other information in the summary box is effective from 7 December 2018.

Download PDF

This summary box sets out the key features of the savings account. For full details, please read the account terms and conditions.

Before you apply, please make sure you read the Summary box and the Business Savings General Terms and Conditions and Business 45 Day Saver Account Specific Terms in full and print or save a copy of the PDFs below for future reference.

Please note, the Business Savings General Terms and Conditions are changing on 01 April 2019. After this date, they will be replaced by new Business Savings General Terms and Conditions. You can find out more about these changes by clicking here. By completing your application, you agree to be bound by both sets of terms and conditions.

Important documents

Other important information

FSCS - Protecting Your Money

Your eligible deposits with Nationwide Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. See the FSCS guide to how your money is protected for further information or visit www.fscs.org.uk