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1 Month Notice Business Deposit Account

With £1,000 or more to deposit you can earn interest with a 1 Month Notice Business Account.

The account is ideal for business savers who wish to have access to their money.

You can add further funds, as long as they come from the same bank account as the original deposit.

Please note interest is paid quarterly with this account.

Up to 0.25%

on deposits of £1,000+. Gross Rate* – interest paid annually and compounded.

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Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

1 Month Notice Business Deposit Account Summary

Account Name
1 Month Notice Business Deposit Account.
What is the interest rate?
Up to 0.25% Gross Rate* - interest paid annually and compounded§ on deposits of £1,000+ for quarterly payment.
Can Hodge Bank change the interest rate?
Yes, the interest rate can change subject to 1 month notice.
What would the estimated balance be after 12 months based on a range of deposits?
Below £1,000 No Interest
£1,000+ £1,001.50
£5,000+ £5,012.50
£10,000+ £10,025.00
£50,000+ £50,125.00
£100,000+ £100,250.00
Assumes interest is compounded.
How do I open and manage my account?
You can open your account by post. You can manage your account by post or telephone. The minimum deposit for a 1 Month Notice Account is £1,000.
Can I withdraw money?
Yes, one month notice is required.
Additional information
If you're looking for any other type of account you can apply using our application form, which you can download or request from our Customer Services Team.

How to apply

You can choose to receive your interest monthly, or annually from your account. The interest rate on your account is flexible in line with the balance you hold.

Amount
Gross Rate* - interest paid annually
AER†
Amount £100,000+
Gross Rate* - interest paid annually 0.25%
AER† 0.25%
Amount £50,000+
Gross Rate* - interest paid annually 0.25%
AER† 0.25%
Amount £10,000+
Gross Rate* - interest paid annually 0.25%
AER† 0.25%
Amount £5,000+
Gross Rate* - interest paid annually 0.25%
AER† 0.25%
Amount £1,000+
Gross Rate* - interest paid annually 0.15%
AER† 0.15%
Amount Below £1,000
Gross Rate* - interest paid annually 0.00%
AER† 0.00%

Applying offline

You can apply for this account by post by downloading the application form below

By Post

Hodge Bank, One Central Square, Cardiff, CF10 1FS.

FAQs

AER stands for Annual Equivalent Rate. It shows the rate of interest a saver will receive over a year, on the assumption that the cash is left in the account for the full year without any withdrawals.
Compound interest is interest paid on the initial principle as well as the accumulated interest on money you have invested. You earn interest on the money you deposit, and on the interest you have already earned

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deducation of income tax at the rate specified by law. The payment can be made annually or monthly.

†AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

§Compounded interest and interest paid away
Compounded interest is interest that rolls up annually and is paid on maturity of the account. Interest paid away means the interest isn’t compounded over the term of the account. It is placed into a designated current account every month

Not the product for you?

Why not browse our range of other accounts to see which may suit you best