Corporate Saver (COR01)

Corporate Saver.

Interest is variable, calculated on a daily basis and is paid annually on 31 August.

†Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to two decimal places.

As the interest rate is variable, we may change the rate if we reasonably believe that the change is needed. If we reduce the interest on your account, we will write to you 14 days before we make the change. For full details on how and why we will change the interest rate on your account, please refer to Section 8 of the Savings Terms and Conditions.

Based on the current interest rate, if you deposited £1,000 in this account, after 12 months you would have £1,012.00. This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rates within the 12 month period.

You must be a Limited Company, Professional Partnership, Registered Charity or Pension Fund. We require a copy of your Minutes of the Meeting where it was decided to invest funds in the Corporate Savings Account, the names of those appointed to operate the account and their positions.

To comply with Money Laundering Regulations we will require verification of your organisation. We are also required to verify the identity of each individual person appointed to operate the account and anyone who owns or controls more than 25% of the business capital, profit or voting rights.

Simply call into your local branch and complete an application form. You will need to provide some identification when you open your account, details of our requirements can be obtained from the “before you apply section” on this page, your local branch or by calling us. If you are already a Hanley Member, in most cases, this will not be necessary.

When you open your account you will receive a passbook.
Minimum investment is £1,000 – maximum investment £250,000. You can add to your account at any time, subject to the maximum investment limit

Once the account has been opened it can be managed either in branch and/or via the post.

Minimum age 18 years.

Corporate withdrawals must be made by cheque or electronic transfer only – no cash withdrawals are allowed. Cheques must be made payable to the company & transfers must only be made into an account in the company’s name. The minimum balance following any withdrawal must remain at £1,000.00.

You're eligible for 5 fee-free CHAPS withdrawals per Society year.

To withdraw money in a branch, you must provide your passbook. If making a withdrawal through the post, you must send your passbook along with signed written instructions.

UK residents only.

The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HM Revenue & Customs’ (HMRC) website: hmrc.gov.uk . The tax information provided is based on our understanding of current law and HMRC practice, both of which may change.

Yes if

You want instant access without penalty to your funds and are happy for withdrawals to be made by cheque or electronic transfer.

You are happy that the interest rate may change at any time.

You want to open and manage your account in branch via the post.

No if

You want a fixed rate of interest for a fixed term.

You want to open and manage your account online.

You are a business entity which is not one of a Limited Company, Professional Partnership, Registered Charity or Pension Fund.