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    NW Business Reserve Info Sheet 190521

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    The Business Reserve Account provides variable interest rates ranging from 1.45-1.90% depending on the account balance. Interest is calculated daily and paid monthly. The interest rate can be increased or decreased by NatWest with advance notice. Money can be deposited and withdrawn from the account at any time without notice or fees. The account has no minimum deposit or maximum balance limits.

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    NW Business Reserve Info Sheet 190521

    Uploaded by

    true.exe
    17 views2 pages
    The Business Reserve Account provides variable interest rates ranging from 1.45-1.90% depending on the account balance. Interest is calculated daily and paid monthly. The interest rate can be increased or decreased by NatWest with advance notice. Money can be deposited and withdrawn from the account at any time without notice or fees. The account has no minimum deposit or maximum balance limits.

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    NATWEST FORM

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    nw-business-reserve-info-sheet-190521

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    The Business Reserve Account provides variable interest rates ranging from 1.45-1.90% depending on the account balance. Interest is calculated daily and paid monthly. The interest rate can be increased or decreased by NatWest with advance notice. Money can be deposited and withdrawn from the account at any time without notice or fees. The account has no minimum deposit or maximum balance limits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    17 views2 pages

    NW Business Reserve Info Sheet 190521

    Uploaded by

    true.exe
    The Business Reserve Account provides variable interest rates ranging from 1.45-1.90% depending on the account balance. Interest is calculated daily and paid monthly. The interest rate can be increased or decreased by NatWest with advance notice. Money can be deposited and withdrawn from the account at any time without notice or fees. The account has no minimum deposit or maximum balance limits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Information sheet

    Business Reserve Account


    A straightforward way to manage your business savings

    This leaflet sets out the key information you need to know about your account. It should be read together with the
    Business account terms and Credit Interest Rates. Please keep it for future reference.
    Summary Box
    Account name Business Reserve Account
    Rate from 15 August 2023
    What is the interest rate? Balance AER/Gross p.a. (variable)
    £0 - £999,999 1.46% / 1.45%
    £1,000,000 - £9,999,999 1.71% / 1.70%
    £10,000,000+ 1.92% / 1.90%
    Interest is calculated daily and paid on the last business day of the month and at
    account closure. You’ll be able to see and access the interest in your account on the
    following business day.
    Can NatWest change the Yes, this rate is variable. We can increase or decrease the rate for the reasons set
    interest rate? out in the Business account terms.
    If the rate is going down, we’ll give you at least 60 days’ notice. If it is going up,
    we’ll give you notice either before the change happens or as soon as possible
    afterwards.
    Please see General Terms 11.1 and 11.3 of the Business account terms for more
    details on when we may change the interest rates and the notice we’ll give you.
    What would the estimated Initial deposit at Balance after Interest earned
    balance be after 12 months account opening 12 months
    based on a range of deposits?
    £25,000 £25,364.92 £364.92
    £500,000 £507,298.38 £7,298.38
    £1,000,000 £1,017,133.09 £17,133.09
    These are only examples and do not take into account your individual business
    circumstances. The examples assume that:
    • no further deposits or withdrawals are made;
    • any interest earned stays in the account; and
    • there is no change to interest rates.
    How do I open and manage You can open and manage your account in branch, online and by telephone.
    the account? There is no minimum deposit required to open the account, and there is no
    maximum balance limit.
    Can I withdraw money from Yes. No notice is required.
    the account? You can withdraw money:
    • in branch;
    • by transfer to your business current account at NatWest (in branch, online,
    by telephone or on the mobile app);
    • by transfer to any other account based in the UK (online, by telephone or on the
    mobile app).
    Additional information Tax
    We do not deduct tax from the interest we pay to you. The tax treatment may be
    subject to change in the future and depends on your circumstances.
    Definitions
    Annual Equivalent Rate (AER)
    This is a notional rate used for interest bearing accounts, which 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).
    Interest rates are correct as at 15/08/2023 and are subject to variation.

    National Westminster Bank Plc, Registered in England & Wales No 929027. Registered Office: 250 Bishopsgate, London EC2M 4AA
    National Westminster Bank Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority
    and the Prudential Regulation Authority. Our Financial Services Register number is 121878.
    NWB8074 (15/08/2023)

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