Business notice savings account

This product may be withdrawn at any time.

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gross/AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
0.75%
notice for withdrawals
Some of our accounts require you to give notice before you can withdraw money from your account. Further details on the withdrawal restrictions that apply to the account can be found in the section titled - 'Can I withdraw money?' - in the Summary box.
30 days
age restriction
Minimum or maximum age you must be to open this account.
16 years and over
 

Your savings account

A savings account ideal for your business. This notice account requires you to give us 30 days' notice to access your savings.

Key features

  • Minimum opening deposit: £10,000
  • Maximum overall holding per account: £100,000
  • Available for sole traders, partnerships, limited companies, franchisees and unincorporated businesses only

Summary box

Account name

Business notice savings account

What is the interest rate?

The variable rate below applies from 1 August 2019. Interest is calculated daily and paid annually on 31 December.

£10,000 plus - 0.75% gross / AER

 

When you're ready to open your account simply download and complete an application form.

Can Tipton & Coseley Building Society change the interest rate?

We may change the interest rate at any time. Further details can be found in section 7 of our Terms and Conditions for Savings Accounts, and Appendix A of the Terms and Conditions for Business Accounts.

 

When you're ready to open your account simple download and complete an application form.

What would the estimated balance be after 12 months?

The balance after 12 months on an initial deposit of £10,000 with an interest rate of 0.75% gross / AER (variable) would be £10,075.00.

This estimation is an illustration only and assumes:

  • the account is opened on 1 January;
  • there are no additional deposits or withdrawals made;
  • interest is paid back into the account;
  • there is no change to the interest rate; and
  • interest is paid gross on 31 December.

 

When you're ready to open your account simply download and complete an application form.

How do I open and manage my account?

The account is available for sole traders, partnerships, limited companies, franchisees and unincorporated businesses only.

Before an account is opened, we will need to verify the identity of the business, its directors and all signatories.

You can open your account in a branch (by appointment only) or by post, and must be opened by cheque, or electronic transfer from the business account.

Only one account can be opened per business.

The minimum opening deposit is £10,000. You must have at least £10,000 in the account to keep it open. Withdrawals taking the balance below £10,000 are only allowed on closure of your account.

Deposits can be made through the post by cheque, at any of our branch offices by cheque, by electronic transfer, or standing order. You can add to the balance of your account at any time. If you are opening your account by electronic transfer, funds must be received within 7 days of opening.

The maximum overall holding per account is £100,000.

 

When you're ready to open your account simply download and complete an application form.

Can I withdraw money?

Withdrawals require 30 days' notice. No early access is available.

Withdrawals can only be made by cheque and must be a minimum of £500. No cash withdrawals or internal transfers are allowed.

 

When you're ready to open your account simply download and complete an application form.

Additional information

Interest is paid without tax deducted.

The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax. For information regarding tax, or how to make a self-assessment tax return, please contact HMRC.

Tax treatment and rate of interest payable may change in the future.

If you decide within 14 days of opening your account that it isn't right for you, you can have your money back without charge. We'll arrange to close the account and return your money or transfer it to another one of our savings accounts.

 

When you're ready to open your account simply download and complete an application form.

Speak to Caryl from our savings team today 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Here to help you...

  • Confirm our interest rates
  • Talk about your options
  • Discuss your existing account
  • Open your new account

It's easy to get started

When you're ready to open your account simply download and complete an application form.

Please post your completed form to The Tipton & Coseley Building Society, 70 Owen Street, Tipton, West Midlands, DY4 8HG and must be opened by cheque, or electronic transfer from the business account.

Alternatively, you can make an appointment to open an account at any of our branches.

Please read our Terms and Conditions for Savings Accounts leaflet, Appendix A of the Terms and Conditions for Business Accounts and the Deposit Guarantee Scheme Information Sheet before you open your account.

We require all new savings customers to sign any future windfall rights to our Charitable Foundation.