Business Notice Account

It is a variable interest rate, with the rate as at 25.09.2023 shown below:-

Interest is calculated daily and credited twice a year in June and December into your Notice Account.

Yes.

As this account pays a variable rate of interest, the rate can change over time. For example we might review the interest rate if the Bank of England base rate changes. We’ll always let you know of any planned changes to the rate.

A deposit of £2,000 at an annual Gross rate of 3.81% would generate an estimated balance of £2,076.20

This estimate is for illustrative purposes only and do not take into account individual circumstances.

Assumptions taken for above calculations;

• No change in the amount (no deposits, no withdrawals)
• No change to the variable interest rate
• Interest payment twice a year

Eligibility:

You must be;

• Aged 18 or over
  
  
• Minimum/Maximum Balance
  

• The minimum interest earning balance is £1
  
  
• The maximum interest earning balance is £1,000,000

How to open the Account:

Download the Application Form and complete and return it:

• In branch: Visit our branch Monday to Friday between 9:30am and 4pm
• In writing: By post, sending instructions to: FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ (all written instructions must be countersigned and dated by all named Account holders)

How to manage the Account:

• Online: If you are registered for UBL UK NetBanking (Account operations are limited to viewing only and the service is for Sole Traders Only)
• In branch: Visit any of our branches Monday to Friday between 9:30am and 4pm
• In writing: By post, sending instructions to: FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ (all written instructions must be countersigned and dated by all named Account holders)
• Telephone: You can contact our Customer Services Team Monday to Friday from 9:15am to 5:15pm for support

Withdrawals can be made by giving the required notice.

If you wish to withdraw money from your 90 Day Business Notice Account without giving us the required notice, or before the expiry of the notice period, an Early Withdrawal Charge equivalent to 90 days’ gross interest will be applicable to the amount being withdrawn.

If the interest earned on your Notice Account is insufficient then the Early Withdrawal Charge will be deducted from your deposit and accrued interest, which may take your balance below the minimum interest earning balance.

The Early Withdrawal Charge will not be applied in the event of the death of an Account holder (or one of them in case of a Joint Account).

This account can be held with single or joint signatory.

There is a 14 day cooling off period for the 90 Day Business Notice Account. If you decide to cancel within the 14 days we will not deduct Early Withdrawal Charges, but you will not be entitled to interest for the number of days your deposit has been with us.

Interest will be paid using the Gross Rate and tax will not be deducted where your interest is exempt.

Gross rate means we won’t deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.