Business Account
PLEASE NOTE THIS ACCOUNT IS TEMPORARILY CLOSED TO NEW APPLICATIONS
| Balance: | Gross Interest Rate/AER: | Net Interest Rate: |
|---|---|---|
| £1,000+ | 0.80% | 0.64% |
| £10,000+ | 1.20% | 0.96% |
| £50,000+ | 1.75% | 1.40% |
| £150,000+ | 2.00% | 1.60% |
| Summary Box Key Product Information for our Savings Accounts | |
|---|---|
| Account Name | Postal Business Account/Business Online Account |
| Interest Rates (AER) | Please see interest rates above |
| Tax Status | Interest is paid net after the deduction of basic rate tax OR Gross without deduction of tax for qualifying organisations |
| Conditions of bonus payment | Not Applicable |
| Withdrawal arrangements | Immediate Access - No notice required or penalties charged for withdrawal but the withdrawal must be by post/cheque or via the online service |
| Access | Post Only via Postal Investment Department based at Beverley. Online - via the Society's website |
| General Product Information | |
|---|---|
| Availability | Available nationwide |
| Minimum Investment | To open a Postal Business or Business Online Account you need a minimum of £1,000 |
| Tiered Interest | As soon as your savings reach a higher band, the total sum invested earns a higher rate of interest. If the account falls below £1,000 the terms and conditions of the Postal Account or Business Online Account remain in place but the lowest interest band from the current instant access account will apply. Interest added or paid on 31st December |
| Access | Postal Business transactions by cheque only - Prepaid envelope provided after each transaction. Business On Line transactions by BACS via nominated Bank Account - No Account Transaction Charges |
