Our Business Deposit Affinity Notice 95 gives you access to your money with 95 days’ notice, and supports our local community without costing you a penny. Each year we’ll donate 0.25% of the total average balance to the Community Foundation for Lancashire’s Red Rose Responding Fund to support the mental health and well-being of those in our region. The more you save, the more we’ll donate.
Rates effective from 02 October 2024.
Key features:
Account name
Business Deposit Affinity Notice 95 (Issue 1)
What is the interest rate?
| Annual | ||
|---|---|---|
| Balance | Gross* | AER† |
| £5,000+ | 4.50% | 4.50% |
Rates effective from 02 October 2024.
Interest is variable, calculated on a daily basis and paid annually on 31 March.
Can Marsden Building Society change the interest rate?
The interest rate is variable so we can increase or decrease the rate at any time subject to 95 days’ notice.
If the interest rate on your account falls, and the balance in your account is £100 or more, we will personally notify you of the change.
All our interest rates are available on our website.
For more details about why we may change the rate, and when we’ll let you know about a change, please refer to our General Retail Savings Account Terms and Conditions.
What would the estimated balance be after 12 months based on a £5,000 deposit?
If you saved £5,000, the estimated balance after 12 months would be £5,225.
This example assumes that the account is opened with the amount stated on 01 April, no withdrawals or further deposits are made throughout the 12 months, the interest earned is added to the account, and no changes are made to the current interest rate. It is provided for illustrative purposes only and does not take into account your individual circumstances.
How do I open and manage my account?
This account can be opened by submitting an application form on our website or by post. Please click the 'Apply' tab for more information.
The account is available to small-to-medium sized UK-based businesses registered at Companies House.
Acceptable companies include Limited Companies, Limited Liability Partnerships and Partnerships.
We do not open accounts where any connected party on the account has a foreign tax residency, even though they may also hold UK tax resident status.
The minimum balance to open and operate the account is £5,000. The overall maximum holding in respect of all business deposit accounts with the Society is £750,000.
Your nominated bank account, which must be your UK current business banking account, must be available to send and receive payments to.
Additional deposits can be made by faster payment, up to the maximum holding.
This account can be operated via our website or by calling our Business Deposit Team on 01282 525110.
Can I withdraw money?
The account can be operated by one or more connected persons named on the account. If withdrawals can be authorised by one person, you must be satisfied that your own internal controls are adequate to prevent fraud. Before a withdrawal can be processed, it is necessary to verify the transaction in accordance with the account mandate.
You can withdraw from your account by giving 95 days’ notice. It is not possible to withdraw funds without giving 95 days’ notice.
Payments out of the account are made by next day faster payment to your nominated bank account. Payments are also available by CHAPs at a cost of £25 per transaction.
Additional information
*No tax will be automatically deducted from the interest paid on this account. The receipt of interest gross by a company will not prevent the interest from being liable for corporation tax. For information regarding tax or how to make a self-assessment tax return, please contact HMRC.
Tax treatment and rate payable may change in the future.
†AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year.
Download our full savings terms and conditions: General Retail Savings Terms and Conditions (PDF)
Download our product terms and conditions: Business Deposit Affinity Notice 95 (PDF)
You can apply for this account by downloading our Business Deposit Application Form (PDF). This is an interactive PDF that can be filled in using Adobe Acrobat. When you've filled in the form, click 'submit application' which will open up a new email and attach the completed file so you can send it to us. If you'd prefer to email it to us without using this functionality, you can send it to businesscustomers@themarsden.co.uk.
Alternatively, you can fill in the form by hand and return it to us by post. Please mark it for the attention of our Business Deposit Team and return it to Marsden Building Society, 6-20 Russell Street, Nelson, Lancashire BB9 7NJ.
When we receive your application form, our Business Deposit Team will carry out validation checks. If we need more information from you, we’ll contact you, otherwise, we’ll contact you once the account is open to request a faster payment. You should hear from us within 5 working days of submitting your application (this may be longer if applying by post). If you don’t hear from us within 5 working days, please call 01282 525110.
If you've already opened this account, you can request a transaction by filling in the form below or calling our Business Deposit Team on 01282 525110.
01282 440500 * 
