Farm Business Bonus 95 Day Notice 0.81% Variable
- No fees or charges
- Eligible deposits between £1,000 - £500,000
Farm Business Bonus – 95 Day Notice Account – Issue 1
- Interest is calculated daily
- The Bonus is paid when you meet the eligibility criteria of being an active farm business
- Interest is paid every month with reference to the date of receipt of your first deposit and credited to your account. If this date falls at the weekend, or on a Bank Holiday, interest will be credited on the next working day
|Account Balance||Variable Rate Without Bonus||Variable Rate including Bonus|
|£0 - £999.99||0% AER/Gross||0.36% AER/Gross|
|£1,000 - £500,000||0.45% AER/Gross||0.81% AER/Gross|
YES. This account has a variable rate of interest. You will be informed of any changes to the interest rate with at least 14 calendar days’ notice in addition to the notice period of the account.
The Farm Business Bonus element is fixed until the end of January 2022.
Below is an example of what the future balance might be for an account balance of £1,000 with interest paid annually. We have also shown the estimated balance for a £50,000 deposit. The projection is provided for illustrative purposes only and does not take into account individual circumstances.
|Initial Deposit||Gross rate||Balance after 1 year||Interest Earned|
The estimated balance projections assume that:
- The account is opened with the amount stated and interest starts being earned straight away
- No further deposits or any withdrawals are made
- The interest is paid every month with reference to the date of receipt of your first deposit and credited to your account
- You are eligible for the Bonus Rate
- This account can be opened online and managed online or via the Oxbury App on your smartphone
- You can open this account with a minimum deposit of £1,000. The maximum amount that can be held in the account is £500,000
- If your balance falls below £1,000 after account opening you will not receive interest on the balance. Any balances above £1,000 will accrue interest on the whole balance
- You must make your initial deposit within 90 days of opening the account. If the minimum deposit balance is not met during this period your account will automatically be closed
- If you change your mind in 14 days, we will return any money you have paid into your Oxbury account to your Linked Account and close your account
- You will need your current account sort code and account number to open your new savings account, this will become your Linked Account. You can only transfer money in and out of your Oxbury account from and to your Linked Account
YES. Subject to providing the required notice you can withdraw up to the full balance of the account.
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year.
Accounts can be withdrawn from sale at any time and without notice.
We pay all savings interest gross, which means no tax is deducted.
Eligibility for the Farm Business Bonus is dependent on the provision of a valid CPH or SBI number indicating active farmer status.
What do you need to open an account?
This account is widely available so long as you:
- Are a farm business structured as a sole-trader, partnership or limited company and you are aged 18 or over
- Have a UK bank or building society current account, on which the business is named as an account holder
- Are resident in the UK (including for tax purposes). Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
- Have read this Farm Business Bonus 95 Day Notice Account Product Summary and our General Terms and Conditions
If you would like more information, please contact us before you open your new account.
Your eligible deposits with Oxbury are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme https://www.oxbury.com/fscs-guide.pdf
You can find out if your money is protected in two easy steps by using the FSCS Protection Checker at https://www.fscs.org.uk/check-your-money-is-protected/