Local Council 45 Day Notice Deposit

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,022.00

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit* and ID documents, or post them to us at the address in this brochure.

This account can have between two and four signatories.

*The minimum deposit required to open and maintain this account is £1,000 and the maximum balance is £500,000. The opening deposit must be by a cheque drawn on the council’s nominated bank account and payable to your council’s name, or by electronic funds transfer from the council’s nominated bank account. It must be credited to the account within 5 business days of the account being opened, or the application process will need to be restarted. Cash deposits are not allowed to be paid into the account.

You can manage your account at any of our branches or agencies, by phone, or by post. You can also manage your account online: on our app or by using H&R Online on our website (after registering for the service).

Yes, but with this account you must give us 45 days’ notice. Instant withdrawals (without giving the required notice) are not allowed.

You can give us the required 45 days’ notice in writing, by phone, by visiting a branch or agency, or on our app or by using H&R Online on our website (after registering for the service). Withdrawals will be processed and credited to your bank account
on the first business day the funds are available.

Withdrawals can only be made by Faster Payment transfer and will only be sent to the council’s nominated bank account from which the funds to open the account were drawn.

All withdrawals are subject to our daily limits, as outlined in our Savings Account Terms and Conditions booklet.

Note that you cannot give notice to withdraw an amount greater than the balance of your account at the time of giving notice (taking into account any other notice period already being processed).