Notice Business Savings Accounts
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Compare and check the latest notice business savings accounts rates using our quick and simple table below.
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Business Notice Savings Accounts
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Interest Rate
4.60% AER fixed -
Minimum Deposit
£1000 -
Maximum Deposit
£1M -
Access Type
Fixed Rate1 Year Fixed Rate -
Access Methods
App/Branch
Product Features
- 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)
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Interest Rate
4.33 AER -
Minimum Deposit
£1 -
Maximum Deposit
£ 1 Million -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- Eligible deposits up to £85,000 protected by the FSCS
- Interest is paid into the saver monthly
- Unlimited access to your money whenever you need
- Open a free Tide business current account at the same time
- 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
Earn 4.33% AER variable interest, paid monthly on savings
Flexible, easy access to savings
No limits or fees on withdrawals
Flexible, easy access to savings
No limits or fees on withdrawals
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Interest Rate
4.05% AER fixed -
Minimum Deposit
£1000 -
Maximum Deposit
£1M -
Access Type
Fixed Rate6 Month Fixed Rate -
Access Methods
App/Branch
Product Features
- 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)
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Interest Rate
4.00% AER -
Minimum Deposit
£1 -
Maximum Deposit
£10m -
Access Type
Easy Access -
Access Methods
Online
Product Features
- Apply for an account in as little as 10 minutes with a simple streamlined application process
- Start to save with just £1, and access your money whenever you like
- Eligible deposits are protected by the FSCS, up to £85,000
- Access for up to 10 people
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
3.66% AERInterest is calculated daily and paid monthly or annually -
Minimum Deposit
£1000 -
Maximum Deposit
£1M -
Access Type
Easy Access -
Access Methods
App/Branch
Product Features
- 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
3.00% AER -
Minimum Deposit
£1 -
Maximum Deposit
£2m -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS 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
-
Interest Rate
2.50% AER -
Minimum Deposit
£1 -
Maximum Deposit
£1m -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS 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
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Interest Rate
2.00% AER -
Minimum Deposit
£1 -
Maximum Deposit
£500k -
Access Type
Easy Access -
Access Methods
App/Online
Product Features
- FSCS 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
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A Guide to Business Notice Savings Accounts in the UK
In the landscape of business banking in the UK, notice savings accounts have become a cornerstone for companies looking to balance accessibility and profitability in managing their surplus funds. Here we will provide you with a handy overview of business notice savings accounts, to help you make an informed financial decision when using our comparison tables.
Understanding Business Notice Savings Accounts
A business notice savings account is a type of account that requires account holders to give a set notice period, typically ranging from 30 to 120 days, before withdrawing funds. This notice period allows banks to offer higher interest rates compared to instant access accounts.
These accounts are designed for businesses that can plan their cash withdrawals in advance. The advantages include:
- Higher Interest Rates: Offering better returns than instant access accounts due to the notice period.
- Improved Financial Planning: Encourages businesses to plan finances more effectively.
- Flexibility: Provides a balance between higher interest rates and access to funds.
Key Features of Notice Savings Accounts
- Interest Rates: The interest rates on notice accounts are typically higher than those on instant access accounts but lower than fixed-term investments.
- Notice Periods: The notice period varies between accounts. Longer notice periods generally offer higher interest rates.
- Minimum and Maximum Balances: These accounts often have minimum opening and operating balance requirements, and sometimes upper limits on the amount that can be deposited.
- Withdrawal Conditions: Withdrawals usually require adherence to the notice period. Early access to funds often incurs penalties, such as loss of interest.
- Account Fees: Some notice accounts may have associated fees, including account management fees or penalties for non-compliance with notice terms.
Comparing Business Notice Savings Accounts
- Researching Various Banks: Compare offerings from different banks using our comparison tables, focusing on interest rates, notice periods, and any associated fees.
- Terms and Conditions: It’s crucial to thoroughly understand the terms, particularly regarding notice periods, early withdrawal penalties, and how interest is calculated and paid.
- Economic Factors: Consider the current economic climate, including interest rate trends and inflation, when choosing the length of the notice period.
Opening a Business Notice Savings Account
- Eligibility Criteria: Check the bank’s eligibility criteria for businesses, which might include the type of business, annual turnover, and operational history.
- Necessary Documentation: Prepare essential documents such as company registration details, proof of identity, and address verification for key stakeholders.
- Application Process: Applications can generally be made online, by phone, or in person at a branch, depending on the bank’s processes. You can apply direct online for your chosen account using the links in our comparison tables.
Effective Use of Notice Savings Accounts
- Cash Flow Management: Integrate the account into your cash flow management strategy, ensuring that the notice period aligns with your liquidity requirements.
- Diversification Strategy: Using a notice account alongside other types of accounts can help diversify your interest-earning potential and liquidity options.
- Long-Term Financial Planning: Given their typically higher interest rates, these accounts can be integral in planning for long-term financial goals.
Risks and Considerations
- Liquidity Concerns: The primary consideration with a notice account is the reduced liquidity due to the notice period. Ensure that this aligns with your business’s cash flow needs so that you don’t tie up money that you may require in your day-to-day operations.
- Interest Rate Fluctuations: The interest rate environment may change due to a wide range of economic events. A rise in rates could leave your funds earning less than the market rate for the duration of the notice period.
- Economic Changes: Changes in the economy can influence the attractiveness of these accounts, especially regarding interest rates and inflation.
Managing Your Notice Savings Account
- Regular Account Review: Periodically review the account’s performance and its alignment with your business’s evolving financial strategy and be prepared to move your money to a different account should it prove financially beneficial.
- Planning Ahead for Withdrawals: Always plan withdrawals in accordance with the notice period to avoid penalties and maximize interest earnings.
- Maturity and Renewal Options: Some accounts automatically roll over into a new notice period at maturity. Be aware of these conditions and plan accordingly.
In Summary
Business notice savings accounts in the UK offer an effective way for businesses to earn higher interest rates on their surplus funds while retaining a degree of access. They encourage better financial planning and can be a valuable part of a diversified financial strategy. However, the key to effectively utilizing these accounts lies in understanding and aligning them with your business’s liquidity needs and cash flow management strategies. Regular review and adjustment of your savings strategy in response to changing business needs and economic conditions are essential. In doing so, notice savings accounts can significantly contribute to the overall financial resilience and growth of a business. For businesses willing to navigate the balance between accessibility and higher returns, notice savings accounts present an attractive banking solution in the dynamic financial environment of the UK.