New business account launched

HINCKLEY’S homegrown financial experts are doing their bit for business by launching a new deposit account with market-busting interest.

The 90-day withdrawal notice business account from Hinckley and Rugby Building Society pays 1.25% interest (gross/ AER) in a sector dominated by returns of less than 1%.

It puts the new account in the top four of 90 to 100-day notice products and it is the only building society in the top seven.

It’s the mutual’s second business savings account and sits alongside the existing 30-day account which pays 0.80% interest (gross/AER). Both rates are variable.

Both accounts are available for companies with a registered or principal trading address in the LE, CV, DE and NG postcodes. The minimum balance is £25,000 and the maximum is £500,000.

Hinckley and Rugby’s savings manager Kerry McDonagh said: “Our 30-day notice account has been popular with businesses in our heartlands since it launched in January 2012. Now we are pleased to be offering a very competitive interest rate for a 90-day version.

“Local businesses will not only enjoy a competitive return on their deposits, they can also look forward to receiving outstanding customer service from a local building society.”

Details of the accounts are at: hrbs.co.uk/savings/business-accounts