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Business 90

Availability

Only available to UK registered Private Limited Companies and Public Limited Companies with a registered address or principal trading address in the CV, LE, DE, NG, LN and PE postcode areas.

How much can I invest?

The minimum deposit to open an account is £25,000. The opening deposit must be by a cheque drawn on the company’s bank account and payable to your company name, or by electronic funds transfer from the company’s bank account. Contact us on Helpline number 01455 894060 for further account details if you wish to open your account by electronic funds transfer. The minimum account balance is £25,000 and the maximum £500,000.

Proving your identity

To avoid any complications when opening an account you should ensure that you read our identification requirements for business customers. To view these please click here.

Additional Information

Contact our Business Deposit Account Helpline on 01455 894060 if you require any assistance or wish to give notice or transfer funds back into the company’s nominated bank account. Opening hours are 9am to 5pm, Monday to Friday (closed on Bank Holidays).

With effect from 3 March 2022

Summary box
Key product information for this account. For your own benefit and protection, you should carefully read the Savings Account Terms and Conditions booklet.
Account Name
 Business 90 - 90 Day Notice Business Deposit
What is the interest rate?
 

The interest rate is variable, currently 0.70% Gross*/AER**.  Annual interest will be paid to the account on 1 December each year.

 
Min InvestmentAnnualMonthly
Gross AER Gross AER
£25,0000.70%0.70% - -
Can Hinckley & Rugby Building Society change the interest rate?
 

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, Conditions 7.5 and 7.6.

What would the estimated balance be after 12 months based on a £25,000 deposit?
 

Assuming that no further deposits or withdrawals are made and there is no change in interest rate, after a 12 month period the estimated balance would be £25,175.

These figures are provided for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?
 

Available to UK registered Private Limited Companies and Public Limited Companies or companies limited by guarantee with a registered address or principal business address in the CV, LE, DE, NG, LN and PE postcode areas.

Complete and send in your application and declaration form, opening deposit and the required identification documents to Hinckley & Rugby Building Society, Savings Department, Upper Bond Street, Hinckley, Leicestershire LE10 1NZ. Alternatively, take the documentation into any of the Society’s branches.

At least one Director must be a signatory to the account, with a minimum of two signatories and a maximum of four.

You will be given a passbook to help you keep a record of your transactions.

The minimum deposit required to open and maintain this account is £25,000 and the maximum deposit is £500,000.

You can manage the account by telephone, at any of our branches, or by post.

Can I withdraw money?
 

Withdrawals can only be made by electronic funds transfer and will only be sent to the company’s nominated bank account from which the funds to open the account were drawn. The minimum withdrawal is £1,000. Withdrawals can be made subject to a 90 day notice period. You can give notice by telephoning the Business Account Helpline on 01455 894060, at a branch or in writing. Withdrawals must be made within 14 days of the notice period becoming effective.

Instant withdrawals outside of the notice period will not be allowed. The total amount on notice must not exceed the balance of the account.

Withdrawals up to and including £250,000 – If the request to transfer funds is made by 2pm on a business day, funds will be in the company’s nominated bank account by the next business day. For requests made after 2pm on a business day, the funds transfer will be made the next business day and the funds will be in the company’s nominated bank account by the following business day. No charge will be made for this service.

Withdrawals over £250,000 or by request – If the request to transfer funds is made by 2pm on a business day, it will be actioned that day with funds guaranteed to be received into the company’s nominated bank account that same day. If the request is made after 2pm on a business day, the funds transfer will be made on the following business day with funds guaranteed to be received into the company’s nominated bank account that day. There is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website hrbs.co.uk/savings).

Withdrawal requests can be made by telephoning the Business Account Helpline on 01455 894060, by post using the withdrawal forms and pre-paid envelopes provided or by visiting one of the Society’s branches.

Money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Funds will be available for immediate withdrawal for all other types of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.

Additional information
 

Interest is paid gross without tax deducted.

*Gross rate – the annual rate of interest payable without any deduction of tax.

**AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.

Interest is calculated on a daily basis up to and including the day before any withdrawal. For cheque receipts, interest is paid from the day after the cheque is deposited with us. For automated credits, interest is paid from the day of receipt.

Each year on 1 December the interest earned will be credited to your Business 90 account. Alternatively, it can be paid to a bank or building society account.

Hinckley & Rugby is required to submit certain interest payment details to HM Revenue & Customs.

The interest rate is variable. Please refer to the Interest Rates tab for the current rate payable.

Interest will be paid gross without any deduction of tax.

Enquire about Business 90 Account

Thank you for your  interest in our Business 90 account.

If you would like us to post you a brochure and application form please use the enquire button below and complete your details

Enquire about the Business 90 account

Apply now for a Business 90 Account

Thank you for your interest in our 90 Day Notice Business Deposit Account.

Please note this account is only available to UK registered Private Limited Companies and Public Limited Companies with a registered address or principal trading address in the CV, LE, DE, NG, LN & PE postcode areas.

To apply for this account, please complete the boxes with your name, email address and telephone number, then read the Society’s Savings Account Terms and Conditions, Interest Rates for Savers and the identification requirements for business accounts (see below) and tick the box to confirm you understand them. Please also view the Deposit Guarantee Scheme Information Leaflet and Summary Privacy Notice and tick the second box to confirm you have seen them.

Please then click ‘Submit’ to obtain an application form and declaration for this account which you should print, complete and return to:

Savings Department
Hinckley & Rugby Building Society
Upper Bond Street
Hinckley
Leicestershire
LE10 1NZ

Please ensure you have enclosed the following with your completed application form and signed declaration:

1. A cheque drawn on the company’s bank account for a minimum of £25,000. Alternatively please call us on 01455 894060 if you wish to open your account by electronic funds transfer.

2. The required identification – please click here for details

3. A Board Resolution on company headed paper authorising named signatories to open the account.

4. A list of all the Directors, including names, titles, addresses, dates of birth and nationalities.

Savings Apply: Business 90 Account

Please fill out this form and tick the boxes to confirm you agree to our Savings Account Terms and Conditions, have read and understand the Interest Rates for Savers information and identification requirements, have viewed the Deposit Guarantee Scheme Information Leaflet and Summary Privacy Notice and click submit.

Savings type

This product belongs to the following type of savings:
Business Accounts