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Notice Deposit

Earn higher returns, without locking away your surplus funds for a long time.

Our 35 Day Notice Deposit

If you want to earn higher returns on your savings, but don't want to lock away your surplus funds for a long time, then our 35 Day Notice Deposit could be ideal.

Balance AER/Gross p.a. (variable)
Sterling 0+ Sterling 0.76%
US Dollar $0+ US Dollar 1.75%
Euro €0+ Euro 0.05%

Interest rates correct as at 3 September 2018 and are subject to variation.

  • Interest is calculated daily and paid quarterly in March, June, September and December on the last business day of the quarter and at account closure.

  • Interest is credited to the 35 Day Notice deposit. You will be able to see the interest credited to your deposit on the following business day.

  • Interest is currently paid on a flat basis which means you’ll earn one rate on your entire account balance.

  • Funds placed on notice to withdraw will attract a different rate.

Definitions

  • Annual Equivalent Rate (AER) illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
  • Gross Rate the interest rate you are paid.
  • p.a per annum (per year)

Common questions

How does the Notice Deposit work?

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

  • Please note that if you do not already maintain a Business Treasury Cash Management account one is required to be opened when applying for a 35 Day Notice deposit.
  • The deposit operates on a notice basis; interest is paid at the applicable rate until a minimum 35 days notice of withdrawal is instructed.
  • Once notice has been provided, the amount, to which the notice applies, is placed on a 35 Day Fixed Term Deposit. The Fixed Term Deposit interest rate on this amount will be in line with rates for that term and balance applicable on the day. (This could be a negative rate)
  • Upon maturity of the Fixed Term Deposit the balance plus any earned interest will be credited to the Cash Management account from where it can be withdrawn.

Please speak to your Relationship Director for further details.

Can the interest rate change?

Yes, the rate is variable; the 35 Day Notice Deposit rate can increase or decrease. If the rates go down, we’ll give you at least 35 days’ notice. If they are going up, we’ll give you notice either before the change happens or as soon as possible afterwards.

The Fixed Term Deposit rate remains the same for the full 35 day fixed term.

Can I withdraw money?

Yes – subject to a minimum 35 days’ notice of withdrawal. 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 12.00 pm or on a non business day, notice will commence on the next working day.

Is there a minimum and maximum deposit and withdrawal amount?

Is there a minimum and maximum deposit and withdrawal amount?

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

Can I see a working example?

Day Action Balance Interest Rate
Day 1 100,000 on Cash Management 100,000 Cash Management rate
Day 2 Transfer 100,000 to 35 Day Notice 0
100,000
Cash Management rate
35 Day Notice Deposit rate
Day 40 Instruct 35 Days notice on 50,000 0
50,000
50,000
Cash Management rate
35 Day Notice Deposit rate
35 Day Fixed Term deposit rate
Day 75
35 days
notice ends
Maturity of 35 Day Fixed Term 50,000 *
50,000
0
Cash Management rate
35 Day Notice Deposit rate
35 Day Fixed Term deposit rate

* plus any 35 Day Fixed Term Interest