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Business Saver Take 2

  • A business savings account for when you want to put
    money away for those important investments.

  • Access is limited to 2 withdrawals a year
    up to a total of £20,000.

  • Summary
  • Important InformationInfo
  • How to Apply
  • Account Name

    Business Saver Take 2
  • What is the interest rate?

    £5000 + 0.40% Gross PA/AER

    If the balance falls below £5,000, a variable rate of 0.10% Gross / AER will be paid.

    Interest is calculated daily and paid annually at 31 December into this account or a nominated account as stated on your application form.

  • Can Buckinghamshire Building Society change the interest rate?

    Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 7 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

  • What would be the estimated balance after 12 months based on a deposit of £5000?

    The estimated balance after 12 months based on an initial deposit of £5,000 would be £5,020.00.

    This estimation assumes that £5,000 is deposited on 1 January with no deposit, or withdrawal transactions made and interest subsequently paid gross at 31 December.

    This projection is provided for illustrative purposes only and does not take into account the individual circumstances.

  • How do I open and manage my account?

    • You can open an account with a minimum of £5,000.
    • You can pay money in up to a maximum overall balance of £500,000.
    • The account is only available to UK businesses.
    • The opening investment must be by cheque in the business’s name or by transfer from the business’s bank account stated on the application form. The account may not be opened with cash.
    • The nominated bank account must be in a UK bank. We do not accept transfers from overseas.
    • Once we have opened the account, you can also register to check your account online. Simply go to the mybbs tab on our website and follow the instructions.
  • Can I withdraw money?

    You can withdraw up to £20,000 per calendar year by making a maximum of two withdrawals without notice or penalty. Once you have withdrawn £20,000 or made two withdrawals, no further withdrawals are permitted until 1st January the following year. A third withdrawal will result in automatic closure of the account.

    • You can withdraw by cheque or bank transfer to the company by writing to us and sending in your passbook.
    • Cash withdrawals are not permitted on this account.
    • We do not permit bank transfers to third parties.
    • Cheque withdrawals to third parties may require management approval.
    • Faster payment withdrawals are limited to £100,000.
  • Additional Information

    • Gross Rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
    • The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax.
    • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
    • We have no current plans to withdraw this product although it can be withdrawn without notice.

You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.

This account is a deposit account. As such depositors are not shareholders and do not have membership rights but will be bound by our Rules, a copy of which is available on request.

The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

To Open an Account

Download and complete the application form, self certification form and list of directors and shareholders and return them to us by post or to the branch.

Financial Services Compensation Scheme (FSCS)

You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

Verifying your Identity

In order to help you to keep your money safe from fraud we verify the identity of all signatories on the account. Click here to see the list of required ID documents.