Compare SAVINGS Accounts
for your business today
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most suitable business savings accounts for your business
Tide Instant Saver – Get £100 Cashback
- Get £100 cashback and earn 3.55% AER interest when you open a Tide Instant Saver. Terms apply.
- FSCS Protected for eligible deposits up to £85,000
- Interest is paid into the saver monthly
- Earn 3.55% AER (variable) on business savings on deposits up to £50,000
- No limits or fees on withdrawals
-
Interest Rate
3.55 AER -
Minimum Deposit
£1 -
Maximum Deposit
£ 1 Million -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- Get £100 cashback and earn 3.55% AER interest when you open a Tide Instant Saver. Terms apply.
- FSCS Protected for eligible deposits up to £85,000
- Interest is paid into the saver monthly
- Earn 3.55% AER (variable) on business savings on deposits up to £50,000
- No limits or fees on withdrawals
Eligibility Criteria
- Account holders must be a UK resident aged 18 or over
- You are a UK sole trader or freelancer or your business is registered with Companies House as a limited company or partnership
-
Interest Rate
4.33% AER -
Minimum Deposit
£50,000 -
Maximum Deposit
£5M -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Unlimited withdrawals
- Manage your money easily via app or online banking, all backed up with UK-based phone support.
Eligibility Criteria
- Minimum Initial Deposit – £50,000
- Minimum Age 18 Years
- Business must be incorporated for at least 12 months or have a loan product with Allica
-
Interest Rate
4.00% AER -
Minimum Deposit
£1 -
Maximum Deposit
£10m -
Access Type
Easy Access -
Access Methods
Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Start to save with just £1, and access your money whenever you like
- Winner – Money Comms Best Easy Access Savings Account Award
- Apply for an account in as little as 15 minutes with a simple streamlined application process
Eligibility Criteria
- Must be a sole trader, partnership, limited liability partnership or limited company with up to 10 partners
- Your business is based in the UK and registered at Companies House
- All partners are 18 or over & UK residents
Winner – Money Comms Best Easy Access Savings Account Award
-
Interest Rate
1.35% AER -
Minimum Deposit
£1 -
Maximum Deposit
No maximum -
Access Type
Easy Access -
Access Methods
App/Online/Branch
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Top up or access your savings instantly via transfer
- Works with your business current account
Eligibility Criteria
- Your business is registered in the UK;
- All associated persons are resident in the UK and over 18
- You hold a business account: eligibility rules apply
-
Interest Rate
1.6% AER -
Minimum Deposit
Any Amount -
Maximum Deposit
Any Amount -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Schedule regular payments in to your savings pot for future needs.
- Interest paid monthly, no minimum deposit.
Eligibility Criteria
- Sole Traders or Ltd companies in the UK only.
- You must have a Monzo business bank account to access the savings pot
-
Interest Rate
3.25% AER -
Minimum Deposit
£1 -
Maximum Deposit
No Max -
Access Type
Notice -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- 35 days notice required to withdraw
- Manage your account via our mobile app, online or by phone
Eligibility Criteria
- Minimum age required – 18 years old
- Must have a business registered in England, Scotland, or Wales
-
Interest Rate
3.25% AER -
Minimum Deposit
£1000 -
Maximum Deposit
£250,000* -
Access Type
Notice -
Access Methods
Full
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Up to 4 people in your business can manage the account
- *Maximum for Limited Companies and LLPs £250,000, Maximum for all other eligible businesses: £85,000
- Withdraw money by giving 35 days notice
Eligibility Criteria
- Business Must be registered with Companies House
- Have a UK business account
- Fewer than 250 employees
- Less than £36.5 million in assets or less than £42.5 million in turnover
-
Interest Rate
4.10% AER -
Minimum Deposit
£10,000 -
Maximum Deposit
£1M -
Access Type
Notice35 days Notice -
Access Methods
Online/Post
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Cancel in the first two weeks if it is not right for you
- Unlimited number of withdrawals with 35 days’ notice only
- Make unlimited top-ups (up to £1m limit)
Eligibility Criteria
- Available to UK-based businesses i.e. limited companies, charities, partnerships, LLPs, sole traders, associations, clubs and societies.
- UK residents, minimum age of 18 years
-
Interest Rate
4.10% AER fixed -
Minimum Deposit
£1000 -
Maximum Deposit
£1M -
Access Type
Fixed Rate6 Month Fixed Rate -
Access Methods
App/Branch
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Open in under 15 minutes
- Nominate a business current account for deposits and interest, no need to change provider
Eligibility Criteria
- Minimum Initial Deposit £1000
- Over 18 years of age, UK resident and only tax resident in the UK – this applies to all controlling persons, significant owners and directors
- A limited or unlimited company (Aldermore do not provide accounts for limited partnerships, limited liability partnerships, partnership, sole trader, clubs, societies or charities)
-
Interest Rate
4.15% AER -
Minimum Deposit
£1 -
Maximum Deposit
£5M -
Access Type
Fixed Rate -
Access Methods
Full
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Rate will not change for the bond term
- You can open multiple bonds
- You cannot withdraw or add funds during the term
Eligibility Criteria
- Must be 18 & UK resident
- Have a UK registered business & business account
- Source of funds
- No CCJ’s or IVA’s
-
Interest Rate
4.30% AER -
Minimum Deposit
£1 -
Maximum Deposit
£5M -
Access Type
Fixed Rate -
Access Methods
Full
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Rate will not change for the bond term
- You can open multiple bonds
- You cannot withdraw or add funds during the term
Eligibility Criteria
- Must be 18 & UK resident
- Have a UK registered business & business account
- Source of funds
- No CCJ’s or IVA’s
-
Interest Rate
4.50% AER -
Minimum Deposit
£1 -
Maximum Deposit
£5M -
Access Type
Fixed Rate -
Access Methods
Full
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Rate will not change for the bond term
- You can open multiple bonds
- You cannot withdraw or add funds during the term
Eligibility Criteria
- Must be 18 & UK resident
- Have a UK registered business & business account
- Source of funds
- No CCJ’s or IVA’s
-
Interest Rate
4.51% AER fixed -
Minimum Deposit
£1000 -
Maximum Deposit
£1M -
Access Type
Fixed Rate1 Year Fixed Rate -
Access Methods
App/Branch
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Nominate a business current account for deposits and interest, no need to change provider
- Open in under 15 minutes
Eligibility Criteria
- Minimum Initial Deposit £1000
- Over 18 years of age, UK resident and only tax resident in the UK – this applies to all controlling persons, significant owners and directors
- A limited or unlimited company (Aldermore do not provide accounts for limited partnerships, limited liability partnerships, partnership, sole trader, clubs, societies or charities)
What is AER?
Where you see ‘AER’, this stands for ‘Annual Equivalent Rate’ and is intended to make it easier to compare products. It illustrates how much interest would be earned in one full year on an a set amount of money. It takes into account various factors such as how often the interest is paid, and assumes any interest paid during that year is added to the balance and earns interest (compounded).
Refine Your Search
How to Get The Best Savings Account for Your Business
In the UK, a business savings account is not just a repository for surplus funds; it can be a prudent strategic tool for financial growth and stability. Choosing the right savings account can significantly impact a business’s financial health. In this guide we will explore the key steps and considerations in securing the best savings account for your business in the UK.
Understanding Business Savings Accounts
Types of Accounts
- Instant Access Accounts: Provides immediate access to funds, usually with lower interest rates.
- Notice Accounts: Require a set notice period for withdrawals, offering higher interest rates in return.
- Fixed Rate Bonds: Offer the highest interest rates but require locking in funds for a predetermined period.
Advantages of a Good Savings Account
A well-chosen account can offer:
- Interest earnings on surplus cash.
- Improved cash flow management.
- A financial buffer for unexpected expenses.
Assessing Your Business Needs
Cash Flow Analysis
Understand your business’s cash flow to determine how readily accessible your savings need to be. This will help guide whether an instant access, notice, or fixed rate account is most suitable.
Financial Goals
Consider your short-term and long-term financial goals. If your objective is to build a reserve for future investments, a fixed rate bond might be ideal. For more immediate needs, an instant access account could be preferable.
Deposit Amounts
Carefully evaluate how much money you can commit to a savings account. Some accounts offer tiered interest rates depending on the deposit amount.
Comparing Savings Accounts
Interest Rates
Compare interest rates across different banks and account types. Look for accounts that offer competitive rates but also align with your liquidity needs.
Access and Flexibility
Consider how access to your funds aligns with your business operations. If you need frequent access, focus on instant access or notice accounts.
Fees and Charges
Check for any account fees or charges that could impact the net returns of your savings.
Online Banking Features
Consider the convenience of online and mobile banking features for managing your account.
FSCS Protection
Ensure that the savings account is covered by the Financial Services Compensation Scheme, protecting deposits up to £85,000.
Where to Look for Business Savings Accounts
High Street Banks
Traditional banks offer a range of business savings accounts with various features and benefits, and have the security of a well-established brand behind them.
Online Banks
Online-only banks often provide competitive interest rates and modern banking features, although they are likely to be newer businesses that may not have a long track record in customer service.
Our comparison tables
Use the comparison tables here at BusinessSavingsAccounts.co.uk to get an overview of the various options available in the market, read up on how to compare and choose, and then apply online directly with your chosen savings account provider.
Application Process
Eligibility
Check the eligibility criteria for the chosen account, which may include business size, turnover, and operational history.
Required Documentation
Prepare necessary documentation, including business registration details, proof of identity, and address for key personnel.
Application Method
With most providers you can apply direct online, over the phone, or in-person. Online application, however, will provide the quickest and most convenient method in most cases.
Read more about how to open an business savings account in our in-depth guide.
Maximising Your Savings Account
- Conduct regular reviews: Make sure you regularly review your account to ensure it still meets your business needs and offers competitive returns.
- Stay informed: Stay updated on market changes and economic trends that could affect interest rates and the suitability of your account.
- Think about diversification: Consider diversifying your savings across different types of accounts to balance access, risk, and return.
Common Pitfalls to Avoid
- Don’t ignore the small print: Always read the terms and conditions carefully to avoid unexpected fees or restrictions.
- Don’t just chase high rates: Don’t focus solely on the highest interest rates. Consider how the account’s features align with your business’s financial strategy.
- Be wary of inflexibility: Avoid locking in all your savings in long-term accounts if your business might need quick access to funds.
In Summary
Securing the best business savings account in the UK requires a blend of careful analysis, strategic planning, and staying informed about the financial landscape. By thoroughly understanding your business’s financial needs, comparing available options, and regularly reviewing your choice, you can ensure that your chosen savings account supports your business’s growth and resilience. A well-selected business savings account is not just a safe place for your funds but a strategic asset in your business’s financial toolkit.