Top 31 Business Savings Accounts: August 2022 Comparison

Saving is always smart. For sole traders, startups, and established businesses, it’s a good idea to store extra capital in a place where it can earn as much interest as possible. There are lots of options out there, including instant access, notice accounts, and fixed terms. These are some of the best savings accounts available to businesses.

Companies are ranked in no particular order.

Bank	Minimum deposit	Minimum term
Aldermore	£1,000	Instant access available
Barclays	£0	Instant access available
NatWest	£0	Instant access available
HSBC	£0	Instant access available
Lloyds	£1	Instant access available
Metro Bank	£0	Instant access available
Bank of Scotland	£1	Instant access available
TSB	£1	Instant access available
Santander	£1	Instant access available
Royal Bank of Scotland	£0	Instant access available
Ulster Bank	£0	Instant access available
Co-operative Bank	£0	Instant access available
Allied Irish Bank	£0	Instant access available
ICICI Bank UK	£1	Instant access available
Masthaven	£5,000	6 months
Nationwide	£5,000	Instant access available
Virgin Money	£1	Instant access available
Cynergy Bank	£10,000	1 year fixed-rate
State Bank of India (UK)	£10,000	Instant access available
United Trust Bank	£5,000	1 year fixed-rate
Charity Bank	£10,000	1 year fixed-rate
Hampshire Trust Bank	£5,000	95 days notice minimum
Kent Reliance	£1,000	Instant access available
Cumberland Building Society	£1	Instant access available
Redwood Bank	£10,000	35 days notice minimum
Shawbrook Bank	£1,000	Instant access available
Cambridge Building Society	£1,000	Instant access available
OakNorth	£10,000	Instant access available
Triodos Bank	£1,000	Instant access available
Carter Allen Private Bank	£5,000	30 days notice minimum
Saffron Building Society	£1	Instant access available
Cambridge & Counties Bank	£10,000	95 days notice minimum
Recognise Bank	£1,000	Instant access available

Featured: Aldermore

Offers a choice of easy access or fixed-term accounts.
Easy access accounts with flexible access.
Fixed-terms of 6 months or 1 year.
Earn 0.50-0.85% AER.
Minimum deposit of £1,000.
Maximum balance of £1,000,000.
Real-time interest rate information.
Suitable for a variety of businesses including sole traders and small businesses.
Rated ‘Excellent’ by Business Moneyfacts.
Average independent review score of 4.7 out of 5.

Website: Aldermore Business Savings
Read the full Aldermore Business Savings Account review.

1. Barclays

Offers a range of business savings accounts.
Instant access account with no minimum balance.
Client deposit account allows instant access to funds.
Fixed-term accounts with no access for an agreed term.
£100,000 minimum balance and maximum of £24,999,999 on fixed-term accounts.
Earn up to 0.10% AER on instant access and client deposit.
Interest rates on fixed-term accounts depend on term and will be discussed on application.
Manage instant access and client deposit online, branch and over the phone.
Manage fixed-term account in branch or over the phone.
Apply online, in branch or over the phone.

Website: Barclays Business Savings Accounts
Read the full Barclays Business Account review.

2. NatWest

Offers a wide choice of business savings accounts.
Instant access with no minimum or maximum balance.
Notice account with 35 days notice for access with no minimum or maximum balance.
Fixed-term savings for tailored terms up to 12 months.
Client accounts are also available.
Fixed-term account minimum balance starts at £100,000 with no maximum.
Fixed-term account interest rate is agreed when you open the account and paid at the end of term.
Earn 0.01-0.05% AER on the easy access and notice accounts.
Interest is applied daily on many of the accounts.
You can apply online.

Website: NatWest Business Savings Accounts
Read the full NatWest Business Account review.

3. HSBC

Offers a choice of flexible accounts.
Instant access with no access limits.
No charges for transfers but cash and cheques transaction fees may apply.
Call Accounts, Notice Accounts and Fixed Accounts are available.
Minimum investment of £50,000 and no maximum investment.
Option to benefit from UK money market interest rates.
Client deposit account also available.
Interest rates are not published.
Access your account via the internet, telephone and branches.
Doesn’t require you to have a HSBC current account.

Website: HSBC Business Savings Accounts
Read the full HSBC Business Account review.

4. Lloyds Bank

Offers a choice of instant access and fixed-term savings accounts.
Instant access with a minimum balance of £1.
Choice of fixed-term from overnight to 3 years.
Notice accounts with either 32 or 95 days notice periods.
Deposit £10,000 to £5,000,000.
Interest rates from 0.01-0.05% AER.
Unlimited withdrawals on instant access and notice accounts.
View and manage your account online.
Provides a savings strategy tool to help you to manage your savings.
You can apply online if you have an account with them.

Website: Lloyds Bank Business Savings Accounts
Read the full Lloyds Bank Business Account review.

5. Metro Bank

Offers business and community deposit accounts.
Instant access deposit accounts for businesses or community groups and charities.
Fixed-term deposit accounts for 1 or 2 years from £5,000.
Notice accounts with a choice of fixed periods.
Periods of 35, 60 or 95 days’ notice available.
Earn from 0.05-0.30% AER.
No setup fees.
Some charges for dealing with cheques.
Client deposit accounts are also available.
Business owners can open an account in-store.

Website: Metro Bank Business Savings Accounts
Read the full Metro Bank Business Account review.

6. Bank of Scotland

Offers a choice of instant access and fixed-term savings.
Instant access with flexible access with a minimum balance of £1.
Notice accounts offering unlimited withdrawals.
Fixed-term accounts are available.
Save from £10,000 -£5,000,000
Choice of 32 or 95 days notices on notice accounts.
Choose your own fixed term for up to 3 years.
Interest rates 0.01-0.05%.
Manage your accounts online.
Existing customers can apply online.

Website: Bank of Scotland Business Savings Accounts
Read the full Bank of Scotland Business Account review.

7. TSB

Offers an instant access savings account only.
Requires a balance of £5,000 or more to earn higher interest rates.
Earn from 0.05% to 0.30% AER, depending on your balance.
Interest is calculated daily and applied monthly.
Minimum opening balance of £1.
Can withdraw instantly but daily limits apply.
Manage the account online 24/7.
Can also manage the account in branch and over the phone.
Open and manage your account online or in-branch.
You don’t have to be an existing customer.

Website: TSB Business Savings Accounts
Read the full TSB Business Account review.

8. Santander

Offers instant access and longer term savings accounts.
Instant access savings for a simple easy access account.
Business Reward Saver offers higher interest for not making withdraws but is still easy access.
Fixed-rate bond accounts with a 1 year term.
Also offers treasurer’s account.
Minimum deposit of £1 on instant access and Business Reward Saver and £5,000 on fixed-rate.
Maximum savings of £5,000,000.
Earn from 0.01-0.15% AER.
Manage your account online, over the phone, and in-branch.
Preferential rates for customers who already have a 1|2|3 Business World current account.

Website: Santander Business Savings Accounts
Read the full Santander Business Account review.

9. Royal Bank of Scotland

Offers a choice of instant access and longer term savings accounts.
Instant access with no withdraw or balance restrictions.
Notice account to lock away funds for 35 days.
Fixed-term accounts with a choice of term.
Terms of overnight to 12 months with rates reflecting the length.
Earn from 0.01-0.05% AER.
Interest rates for fixed-term accounts vary based on the term and available on application.
Minimum balance of £100,000 on fixed-term account.
No minimum balance for the instant access and notice accounts.
No maximum balance on any of the accounts.

Website: Royal Bank of Scotland Business Savings Accounts
Read the full Royal Bank of Scotland Business Account review.

10. Ulster Bank

Offers a variety of business savings products.
Instant access savings providing flexibility.
Fixed-term accounts with a choice of term lengths.
Foreign currency savings account also available.
Terms from 1 week to 1 year.
Earn from 0.01% AER.
Most rates are not published but available on request.
Interest is calculated daily and applied monthly on the instant access account.
No withdrawal limits or balance restrictions on the instant access account.
No maximum balance limits.

Website: Ulster Bank Business Savings Accounts
Read the full Ulster Bank Business Account review.

11. Co-operative Bank

Offers a choice of instant access and notice accounts.
Notice accounts offering either 35 or 95 days notice period.
Instant access for straightforward savings.
Earn 0.03-0.12% AER.
Allows a lump sum or regular deposits.
Manage your instant access account online and over the phone.
Manage the notice account over the phone only.
No minimum or maximum balance needed.
Download an application and post it to them or return to a branch.
Must be a Co-operative business current account customer.

Website: Co-operative Bank Business Savings Accounts
Read the full Co-operative Bank Business Account review.

12. Allied Irish Bank

Offers fixed-term and demand deposit accounts.
Fixed-term deposit with a minimum £5,000 deposit.
Terms from 1 week to 5 years.
Demand deposit accounts providing instant access.
Interest is calculated daily and credited monthly or quarterly on demand deposit accounts.
Interest on fixed-rate accounts is calculated daily but applied annually or at the end of the term.
Earn from 0.01% AER.
Interest rates on fixed-term accounts is agreed when you open the account.
Existing customers can open an account with their Relationship Manager.
New customers can open an account in branch.

Website: Allied Irish Bank Business Savings Accounts
Read the full Allied Irish Bank Business Account review.

13. ICICI Bank UK

Offers easy access and fixed deposit savings accounts.
Easy access
Fixed deposit accounts that are available in dollars or sterling.
Terms of 6 months, 1, 2, 3 or 5 years.
Save with just £1.
Maximum savings of £5,000,000 (easy access) or £1,000,000/$1,000,000 (fixed deposit).
0.20-0.30% AER (variable) available.
Manage your account online (easy access only) and in branch.
Must hold a business current account with them.
Apply in branch only.

Website: ICICI Bank UK Business Savings
Read the full ICICI Bank UK Business Savings Account review.

14. Masthaven

Offers fixed-rate accounts only.
Choice your term from 6 months to 2 years.
Withdrawals are not accesssible during the term.
Earn 0.75-0.85% AER.
Minimum deposit of £5,000.
Maximum allowance of £500,000.
Can hold up to 4 accounts but the maximum allowance applies across all accounts.
Suitable for sole traders and limited companies.
Don’t need to be a customer to apply.
Average score of 4.6/5 on Feefo.

Website: Masthaven Business Savings
Read the full Masthaven Business Savings Account review.

15. Nationwide

Offers a variety of business savings accounts.
Easy access account with withdrawals and deposits at any time although minimum withdrawal is £500.
Notice account with a choice of 35 or 95 days notice.
Fixed-rate accounts offering 1-year term.
Earn 0.05-0.30% AER.
Manage your savings in branch.
Internet banking is due to be available late 2021.
£5,000 minimum opening balance.
Interest isn’t earned if your balance falls below £5,000.
Choice of monthly or annual interest payments.

Website: Nationwide Business Savings
Read the full Nationwide Business Savings Account review.

16. Virgin Money

Offers a wide of business savings accounts.
Choice of 2 easy access accounts that you can deposit and withdraw money when needed.
Choice of notice accounts that you can top-up at anytime.
Choice of fixed-rate for 3 months to 2 year account available.
Earn 0.01-0.45% AER.
Notice periods of 30, 65, 95 and 120 days
Limited online management.
£1 minimum deposit.
Maximum balance of £2,000,000 or £25,000,000 depending on the account.
Can apply online if you have an business current account.

Website: Virgin Money Business Savings
Read the full Virgin Money Business Savings Account review.

17. State Bank of India (UK)

Offers an instant access account only.
Earn up to 0.25% AER.
Requires a minimum balance of £10,000.
Interest will not be paid if balance falls below £10,000.
Allowance of 25 free transactions per month.
Available in pounds and US dollars.
Interest is paid at the end of each month.
Only offered to micro-enterprises with fewer than 10 employees.
Manage everything in-branch, online, and in the post.
Annual fee applies, unless your balance is £10,000 or more.

Website: State Bank of India UK Business Savings
Read the full State Bank of India UK Business Bank Account review.

18. United Trust Bank

Offers fixed-rate accounts only.
Terms of 1, 2 and 3 years.
Earn 1.0-1.25% AER.
Withdrawals during the term are not allowed.
Minimum deposit of £5,000.
Maximum deposit is £1,000,000.
Interest is accrued and paid annually.
14-days notice will be give before the end of the term.
At the end of the term you can re-invest or nominate an account for a transfer.
You can open an account online or through the post.

Website: United Trust Bank Business Savings
Read the full United Trust Bank Business Savings Account review.

19. Charity Bank

Allows you to support UK-based charities and community enterprises while you save.
Offers a fixed-rate account only.
Terms of 1-year only.
Earn 0.47% AER.
Allows a single deposit only.
No withdrawals during the term.
£1,000 minimum deposit.
Maximum deposit of £500,000.
Manage your account by post, email, and phone.
At the end of term you can re-invest the funds or nominate an account to transfer it to.

Website: Charity Bank Business Savings
Read the full Charity Bank Business Savings Account review.

20. Hampshire Trust Bank

Offers longer term savings options only.
Variable rate notice accounts for SMEs.
Fixed-rate bond accounts for 1 or 2 years.
Earn 0.75-1.20% AER.
Offers 95 and 120 days on notice accounts.
£5,000 minimum deposit.
Maximum deposit of £750,000.
Manage your account by post, email, and phone.
4.6/5 average rating on Feefo.
Platinum Trusted Service Award in 2021 from Feefo.

Website: Hampshire Trust Bank Business Savings
Read the full Hampshire Trust Bank Business Savings Account review.

21. Kent Reliance

Offers easy access savings account only.
Earn 0.20% AER.
£1,000 minimum deposit but minimum operating balance is £1.
Maximum deposit £1,000,000.
Interest is paid either monthly or annually.
Manage your account easily online.
Access your savings whenever needed.
Branches only in the South East of England.
Open an account online in 10 minutes.
You must have a maximum of 3 directors.

Website: Kent Reliance Business Savings
Read the full Kent Reliance Business Savings Account review.

22. Cumberland Building Society

Offers a range of business savings accounts.
Instant Access account with a minimum £100 balance.
eSavings account that is an instant access account with a £1 minimum balance.
Notice account with a minimum balance of £10,000.
Maximum account balance of £1,000,000.
Earn 0.10-0.30% AER.
Give 40 days’ notice on the notice account.
Secure a higher interest rate if you’re an internet banking customer.
Accounts can be opened in branch, online or over the phone.
You must live in their operating area to be eligible.

Website: Cumberland Building Society Business Banking
Read the full Cumberland Building Society Business Bank Account review.

23. Redwood Bank

Offers longer term savings options.
Choice of notice accounts.
Fixed-rate account for 1-year.
Access your funds with 35 or 95 days’ notice on notice accounts.
Earn 0.70-0.90% AER.
Interest can be paid monthly or annually.
£10,000 minimum deposit.
Maximum deposit of £1,000,000.
Awarded Best Business Fixed Rate Bond Provider 2019 and 2020.
Apply for an acount online in 15 minutes.

Website: Redwood Bank Business Savings
Read the full Redwood Bank Business Savings Account review.

24. Shawbrook Bank

Offers a range of business savings accounts.
Easy access accounts with flexible saving facilities.
Notice accounts with 45 and 100 days notice.
Fixed-rate accounts for 1 or 2 years.
Earn 0.50-1.10% AER.
£1,000 minimum balance.
Maximum balance of £2,000,000.
Lock away your funds for higher rates.
Suitable for sole traders, partnerships and limited companies.
Not available to charities or trusts.

Website: Shawbrook Bank Business Savings
Read the full Shawbrook Bank Business Savings Account review.

25. Cambridge Building Society

Only offers easy access accounts.
Earn 0.10% AER.
Withdraw from easy access account up to twice a month.
£1,000 minimum investment.
Maximum balance of £2,500,000.
Manage your account in branch or by post.
View your account in their app.
Interest is calculated daily and paid annually at the end of the year.
Open an account in branch, over the phone or through the post.
Available to sole traders, partnerships, limited companies, charities, clubs and housing associations.

Website: Cambridge Building Society Business Savings
Read the full Cambridge Building Society Business Savings Account review.

26. OakNorth

Offers a wide variety of business savings accounts.
Easy access account with next day access.
A choice of terms on notice accounts.
Fixed-term accounts of 6 or 12 months.
Terms of 35, 60, 95 and 120 days notice.
Earn 0.10-0.45% AER.
£10,000 minimum balance.
Maximum balance of £1,000,000.
Manage your account online.
Average Feefo rating of 4.5/5.

Website: OakNorth Business Savings
Read the full OakNorth Business Savings Account review.

27. Triodos Bank

Offers a wide of business savings accounts.
Easy access with a minimum deposit of £1,000.
Choice of notice period accounts with 33 or 90 days notice.
Fixed-term accounts with 6 or 12 months periods.
Earn 0.05-0.25% AER.
Open with deposits from £1,000 or £10,000 on fixed-term accounts.
Maximum balance of £5,000,000 on fixed-term accounts.
Can be managed online, over the phone or by post.
Only lend money to organisations that are making a positive impact for people and planet.
Apply online to open an account.

Website: Triodos Bank Savings
Read the full Triodos Bank Business Savings Account review.

28. Cater Allen Private Bank

Offers a single savings account.
Notice account with 30 days notice.
Unlimited withdrawals allowed.
£5,000 minimum deposit.
Earn 0.25% AER.
Interest is paid on balances over £5,000.
Make one withdrawal of up to £2,500 without notice each calendar year.
Manage your account online, over the phone, and through the post.
Suitable for sole traders, partnerships, limited companies, charities, clubs and societies.
Part of the Santander Group.

Website: Cater Allen Private Bank Business Savings
Read the full Cater Allen Business Savings Account review.

29. Saffron Building Society

Offers a choice of instant access and longer-term savings options.
eSaver account with easy access and a minimum deposit of £10,000.
An instant saving account with a minimum opening deposit of £1.
1-year fixed savings account with a minimum deposit of £5,000.
Sports and social clubs account with an opening deposit of £1.
Minimum deposit levels vary per account.
Interest is paid annually on most accounts.
Interest rates from 0.05% to 0.45% AER.
Branches in the South East of England only.
Some accounts managed online, others in-branch and through the post.

Website: Saffron Building Society Business Savings
Read the full Saffron Building Society Business Savings Account review.

30. Cambridge & Counties Bank

Offers a choice of longer-term business savings account.
Notice account with 95 days notice period.
Choice of fixed-rate business, trust and charity bond accounts.
Terms of 2, 3 or 5 years on fixed-rate accounts.
0.80-1.75% gross/AER fixed.
Minimum investment of £10,000.
Maximum investment of 5,000,000 or £3,000,000 on notice account.
No withdrawals are allowed until the account matures or the notice period is up.
Open to sole traders, limited companies, charities, and clubs.
‘Best Business Fixed Rate Bond Provider’ at the Savings Champion Awards 2020.

Website: Cambridge & Counties Bank Business Savings
Read the full Cambridge & Counties Bank Business Savings Account review.

31. Recognise Bank

Offers a range of business savings accounts
Easy access account
95-day notice account
1 year fixed rate account
Earn 1.25-1.8%
Minimum deposit of £1,000
Maximum savings across all your accounts of £85,000
Online account management
Up to four named people can access the account
Available to small to medium-sized businesses with less than 250 employees

Website: Recognise Bank Business Savings

Why open a business savings account?

Having savings can help your business prepare for future investments, secure the future, and make it easier to afford essentials. Opening a dedicated savings account is a good idea because you can earn interest on your balance, meaning your business’ cash earns while it sits there doing nothing.

How do business savings accounts work?

The more you save and the longer the period, the more interest you’ll earn on your balance. Savings accounts are usually instant access, notice, or fixed term.

Instant access accounts are exactly what they sound like – you can withdraw and pay in at any time. Notice accounts require you to give a period of notice before you withdraw, typically between 30 and 120 days. Fixed-term accounts usually offer higher interest rates than easy access accounts, but you can’t withdraw any of the cash until the fixed period ends, these can be fixed for short periods through to 5 years but the longer the length the higher the interest rate normally is.

What are the differences between a business savings account and a business bank account?

A savings account is designed specifically for depositing money for later, whether you’ll need it in a couple of weeks or a couple of years. A current account is for everyday business spending and earning.

Current accounts don’t usually earn interest on the balance. If they do, the rate will often be a lot lower than the rate you’d get with a savings account.

How to open a business savings account.

You can often apply for a business savings account online, but depending on the account and the provider, you might be restricted to applying over the phone or in person. You’ll often need to deposit an amount to open your account, which can range from just £1 to several thousand pounds.

What interest rates do business savings accounts currently offer?

Interest rates can vary dramatically, depending on the type of savings account you open. You’ll often get a higher interest rate if you save for a fixed period, compared to instant access. Rates can be as low as 0.01% and go up to 1.75%.

How long do you have to keep money in a business savings account?

How long you save for is entirely up to you. To earn the best return, it makes sense to save for at least a year. If you want to keep your money accessible, an instant access or notice account is the best option. This means you can save your money for as long as you want.

Who offers the best business savings account?

The best business savings account for your business depends entirely on how much you want to save and how much access you need. If you’re looking for the highest possible return, the account with the highest interest rates will be the best choice.

* Please note we have an affiliate relationship with Aldermore. This comes at no cost to you but we thought you should know.