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90 Day Notice Business Account (Issue 1)
4.76% AER*
Variable interest rate
Minimum balance £20,000
Maximum balance £250,000
*AER is the Annual Equivalent Rate and it illustrates what the current interest rate would be if interest was paid and compounded each year.
Key product information
What is the interest rate?
Interest is calculated daily on the end of day balance and applied to the account on the first day of every subsequent month. If a withdrawal request has been made, interest will be calculated on the total amount until, but not including, the day of the withdrawal.
We will not deduct tax automatically from the interest we pay on money in your account. It is your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC). Please refer to the HMRC website for further details.
| Product | Balance | Gross1 Annual Interest Rate | AER2 |
|---|---|---|---|
| 90 Day Notice Business Account (Issue 1) | £20,000 - £250,000 | 4.76% | 4.76% |
Can DF Capital change the interest rate?
Yes. Our Business Notice accounts have a variable interest rate and we can change it at any point during the lifetime of the account. If we make a change to your managed variable rate, and that change is to your disadvantage, we will:
- advise you in advance of the change taking effect (in writing either by post or by email); and
- provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect.
If you do not notify us, we will assume that you have accepted the proposed change on the date we have notified you that the change will take effect.
What would the estimated balance be after 12 months based on a £20,000 deposit?
These are for illustration only and do not take into account your individual circumstances.
The examples assume that funds are cleared in your account on the day your account is opened and no further deposits or withdrawals are made.
| Product | Deposit at Account Opening | Balance after 12 Months |
|---|---|---|
| 90 Day Notice Business Account (Issue 1) | £20,000.00 | £20,952.00 |
How do I open and manage my account?
Accounts can be opened online at www.dfcapital.bank
These accounts are only open to businesses based and operating in the UK (excluding Channel Islands, Isle of Man & Republic of Ireland) who have a trading history for a minimum of two years
To apply you must be a director of the business, confirm that you and any directors/beneficial owners are residents in the UK and liable to pay tax only in the UK, and are not US citizens.
Customers must fund the accounts within the 14 days of account opening. During this period, you can make as many deposits as needed.
You will need the account number and sort code of your UK business current account. This nominated account must be used as the source of any money deposited with us and will also be used as the destination account of any funds withdrawn.
To make an application you must be authorised to transact on behalf of the business. You will be the primary account holder, however, all directors will have access to manage the account online.
The minimum balance is £20,000 and the maximum is £250,000. The maximum deposit balance that your business can hold with us across all savings accounts is £250,000. The minimum deposit amount is £20,000.
Once open, you can manage your account online. You can also call us on 0330 094 0162 or send us an email at savings@dfcapital.bank. Our opening hours are Monday to Friday 9:00am to 5:30pm, excluding Bank Holidays.
Can I withdraw money?
Yes, you can make unlimited withdrawals subject to providing the notice as per the type of account opened. Early withdrawals are not permitted.
If requested, your money can be returned to your nominated account or transferred to any other Business Savings accounts you hold with us as long as the account allows deposits.
Your funds will be received the same working day if the withdrawal request is received before 4:30pm. Funds for withdrawal requests received after 4:30pm or on a non working day will be received the next working day.
There is a minimum withdrawal amount of £1,000 unless the account balance is lower, in which case you can only withdraw the whole balance.
Additional information
If you change your mind within 14 days of opening your account we will close your account without any penalty or notice.
Please note that we may withdraw the availability of these products at any time without notice.
Your eligible deposits with DF Capital are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit applies to the total deposits held with DF Capital. Any deposits you hold above the limit are unlikely to be covered. For more information and to check eligibility please visit the FSCS website (www.fscs.org.uk).
The account Terms and Conditions contain important information regarding this account. This document can be found on the Key Documents tab above.