Local Council 90 Day Notice Deposit

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,036.00

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

Available to Parish and Town Councils with an annual budget not exceeding £425,000.

This account can be opened and managed by post or at any of our branches and agencies. You can also manage your account by telephone or via H&R Online. Complete the application form and the declarations and consents. Take the completed documents, your deposit and the required identification to one of our branches or agencies, or post them to us at the address in this document

At least one signatory must be the Proper Officer or Responsible Financial Officer, with a maximum of four signatories to the account.

The minimum deposit required to open and maintain this account is £1,000 and the maximum deposit is £500,000. The overall maximum holding by any one Local Council in respect of all savings accounts with the Society is £500,000. The opening deposit must be by a cheque drawn on the council’s bank account and payable to the council’s name, or by electronic funds transfer from the council’s bank account. Cash deposits are not allowed to be paid into the account.

Please note, the minimum deposit must be credited to the account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.

Further Deposits

To pay money into your account by electronic transfer, please use these details:

Account type: Business account
Account name: The account name of your organisation
Sort code: 40-05-30
Account number: 74575938
Reference or roll number: Your 11-digit Hinckley & Rugby account number. Without this, we will not be able to allocate the money to your account and it will be returned to sender.

You can also pay cheques into your account at any of our branches, or by post (to the branch or to our head office).

Contact us on 0800 434 6343 if you require any assistance. Opening hours are 9am to 5pm, Monday to Friday (closed on Bank Holidays).

Withdrawals can only be made by electronic funds transfer and will only be sent to the council’s nominated bank account from which the funds to open the account were drawn.

Withdrawals can be made subject to a 90 day notice period. Withdrawals must be made within 14 days of the notice period becoming effective. Instant withdrawals outside of the notice period will not be allowed. The total amount on notice (including all pending notice) must not be more than the balance of the account.

You can give notice by telephoning us on 0800 434 6343, at a branch or in writing. It is also possible to withdraw via H&R Online up to a maximum of £25,000.

When the notice becomes effective, withdrawals up to and including £250,000 will be processed on the first business day, and credited in your bank account the same business day. No charge will be made for this service.

For withdrawals over £250,000 – These funds are sent by telegraphic transfer (CHAPs), there is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website hrbs.co.uk/important-account-information/).

Subject to the conditions above, money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.