Notice Deposits

Earn higher returns on surplus funds

To apply you must be; a non personal customer, hold a minimum deposit of 25,000 (per currency) and hold a Business Treasury Cash Management Account.

The longer you save, the more you earn

A Notice Deposit allows you to earn higher returns on surplus funds without having to lock them away for an extended period.

  • Choose from 35, 60 or 90 day notice period
  • Available in GBP, EUR and USD
  • Minimum deposit 25,000 (per currency)

Notice Deposit interest rates

Rates effective from 17th September 2021 and are subject to variation.
Minimum deposit 25,000 (per currency). Interest is calculated daily and paid on the last business day of each quarter in March, June, September and December, or at account closure.

Definitions

  • AER stands for Annual Equivalent Rate and illustrates the interest rates as if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
  • Gross Rate means the interest rate you are paid before the deduction of tax. 
  • Notice Deposit Interest rate is the rate customers receive on their Notice Deposit during the life of the deposit.
  • p.a. is per annum (per year).
  • Step down rate is the rate received on withdrawal of funds.

Can the interest rate change?

Yes, the rate is variable; the Notice Deposit interest rate can increase or decrease. If rates go down, we’ll give you notice of the change as follows:

  • at least 35 days notice for a 35 Day Notice Deposit
  • at least 60 days notice for a 60 Day Notice Deposit
  • at least 90 days notice for a 90 Day Notice Deposit

If rates go up, we’ll give you notice as soon as possible afterwards.

The Fixed Term Deposit interest rate remains the same for the term of the Notice Deposit.

You can view, download or save a copy of the Non-Personal Terms and Conditions here.

How does Notice Deposit work?

You can manage your deposit using eQ, in branch, in writing or by telephone.

  • You must already maintain a Business Treasury Cash Management account or we will open one during your application for a Notice deposit.
  • The deposit operates on a notice basis; interest is paid at the applicable rate until a minimum 35, 60 or 90 days notice of withdrawal is instructed on the 35, 60 or 90 day Notice Deposit.
  • Once notice has been provided, the amount, to which the notice applies, is placed on a Fixed Term Deposit. The Fixed Term Deposit interest rate on this amount (the Step Down Rate) will be calculated using the prevailing relevant Central Bank Rate for 35 days, plus the prevailing headline rate for the remainder of the notice period on both the 60 and 90 day products. This could be a negative rate.
  • Upon maturity of the Fixed Term Deposit the balance plus any earned interest will be credited to the Business Treasury cash management account from where it can be withdrawn.

Please speak to your relationship director for further details.

Can I withdraw money?

Yes, subject to a minimum withdrawal notice period of:

  • 35 days notice for a 35 Day Notice Deposit
  • 60 days notice for a 60 Day Notice Deposit
  • 90 days notice for a 90 Day Notice Deposit

Early withdrawals are not permitted. The notice period is effective from the date of receipt of the instruction to withdraw. If we receive your instruction after 12pm or on a non business day, notice will commence on the next working day. We can receive your instruction through eQ, by post or by directly contacting the Money Market team.

Is there a minimum and a maximum deposit and withdrawal amount?

  • There is a 25,000 (per currency) minimum deposit requirement to open and maintain a Notice Deposit account
  • There is a £250 million (or currency equivalent) maximum deposit per customer
  • The minimum deposit and withdrawal amount is 25,000 (per currency) however this is not applicable to online transactions made through eQ

How to apply

Please answer a few initial questions so we can connect you with the most appropriate team to help you apply.

Are you a new or existing customer?

Talk to us about becoming a customer

Our expertise spans the alternative investment funds industry and we have developed strong relationships and partnerships with fund managers, asset managers, fund administrators and other corporate service providers.

To get started please get in touch with a key contact in one of our Institutional Banking locations.

Do you have a relationship director?

Contact your relationship director

You should have a direct number or email address for your relationship director. You can discuss applying for an additional account and they can help with the application and arrange to get the appropriate signatures.

Lines are open from 9am - 5pm

Contact our dedicated service team

Please email our dedicated service team, where a member of the team will put you in touch with your relationship director.