Compare business SAVINGS Accounts
Time is money. Save both by quickly comparing the
most suitable business savings accounts for your business
Tide Instant Saver
- New customers, boost your business savings with 4.07% AER variable
- Interest is paid monthly & no limits or fees on withdrawals
- FSCS Protected for eligible deposits up to £85,000
-
Interest Rate
4.07% AER (Variable) -
Minimum Deposit
£1 -
Maximum Deposit
Unlimited -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- New customers, boost your business savings with 4.07% AER variable
- Min. deposit is £1 with Unlimited Deposits until 31/03/2025
- Interest is paid monthly & no limits or fees on withdrawals
- FSCS Protected for eligible deposits up to £85,000
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
*Use offer code TISNOV100 to be eligible for promotion. Terms and conditions apply.
-
Interest Rate
4.08% AER (Variable) -
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 (Variable) -
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
-
Interest Rate
4.56% AER (Fixed) -
Minimum Deposit
£20,000 -
Maximum Deposit
£2M -
Access Type
Fixed Rate -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Fixed rate guaranteed
- Apply online today
Eligibility Criteria
- Minimum Initial Deposit – £20,000
- Minimum Age 18 Years
- Available for registered companies based in the UK
-
Interest Rate
4.50% AER (Fixed) -
Minimum Deposit
£20,000 -
Maximum Deposit
£2M -
Access Type
Fixed Rate -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Fixed rate guaranteed
- Apply online today
Eligibility Criteria
- Minimum Initial Deposit – £20,000
- Minimum Age 18 Years
- Available for registered companies based in the UK
-
Interest Rate
5.01% AER (Variable) -
Minimum Deposit
£20,000 -
Maximum Deposit
£2M -
Access Type
Notice -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Apply online today
Eligibility Criteria
- Minimum Initial Deposit – £20,000
- Minimum Age 18 Years
- Available for registered companies based in the UK
-
Interest Rate
4.75% AER (Variable) -
Minimum Deposit
£20,000 -
Maximum Deposit
£2M -
Access Type
Notice -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Apply online today
Eligibility Criteria
- Minimum Initial Deposit – £20,000
- Minimum Age 18 Years
- Available for registered companies based in the UK
-
Interest Rate
4.01% AER (Variable) -
Minimum Deposit
£20,000 -
Maximum Deposit
£2M -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Apply online today
Eligibility Criteria
- Minimum Initial Deposit – £20,000
- Minimum Age 18 Years
- Available for registered companies based in the UK
-
Interest Rate
2.25% AER (Variable) -
Minimum Deposit
£1 -
Maximum Deposit
£500k -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Account fee £19 per month
- Open an International Revolut Business account at the same time
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
- Must open a Revolut Business Grow business bank account to access savings rate
-
Interest Rate
2.75% AER (Variable) -
Minimum Deposit
£1 -
Maximum Deposit
£1m -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Account fee £79 per month
- Open an International Revolut Business account at the same time
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
- Must open a Revolut Business Scale business bank account to access savings rate
-
Interest Rate
3.51% AER (Variable) -
Minimum Deposit
£1 -
Maximum Deposit
£2m -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS Protected for eligible deposits up to £85,000
- Custom pricing for larger businesses
- Open an International Revolut Business account at the same time
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
- Must open a Revolut Business Enterprise business bank account to access savings rate
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.