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Tide Instant Saver
  • New customers, boost your business savings with up to 4.22% AER* variable
  • Interest is paid monthly & no limits or fees on withdrawals
  • FSCS Protected for eligible deposits up to £85,000
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*Up to 4.22% AER (variable). Interest rates are tiered, with the top rate for balances over £1M. New Tide members get these rates free for 6 months; after that, your Tide plan’s rates apply.

15 Products Compared

Get access to the Tide Instant Saver without switching your business bank account
Tide Instant Saver
fscs protected logo
  • Interest Rate:
    Up to 4.22% AER* (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    Unlimited
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
Features:

  • New customers, boost your business savings with 4.22% AER* variable
  • Interest is paid monthly & no limits or fees on withdrawals
  • FSCS Protected for eligible deposits up to £85,000
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
GET DEAL
*Up to 4.22% AER (variable). Interest rates are tiered, with the top rate for balances over £1M. New Tide members get these rates free for 6 months; after that, your Tide plan’s rates apply.
Winner – Money Comms Best Easy Access Business Savings
Cynergy Bank Business Saver
fscs protected logo
  • Interest Rate:
    3.51% AER (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    £10m
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
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
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
GET DEAL
Fast account opening. Apply in Minutes.

Get up to 4.33% AER* (variable) on Instant Access Savings Pot paid monthly
Allica Bank Instant Access Savings
fscs protected logo
  • Interest Rate:
    Up to 4.33% AER* (Variable)
  • Minimum Deposit:
    £50,000
  • Maximum Deposit:
    £5M
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
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.
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
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*Rate includes standard rate of 3.33% AER, plus a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (CASS). Businesses keeping less than £50,000 in their account may earn a reduced rate of interest and may incur fees. Eligibility criteria and T&Cs apply.

Capital on Tap Instant Savings Account
fscs protected logo
  • Interest Rate:
    3.74% AER* (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    Unlimited
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
Features:

  • Easy access to your funds with no withdrawal penalties
  • Apply online and get a decision in minutes
  • FSCS protection up to £85,000 on eligible deposits
Criteria:

  • Your business is based in the UK and registered at Companies House
  • Must hold a UK business bank account registered under your exact legal company name
  • One account per business; unlimited balance
GET DEAL
*3.74% AER variable rate linked to Bank of England base rate. T&Cs apply. Capital on Tap Instant Savings account is powered by ClearBank.
Virgin Money Business Access Savings Account
fscs protected logo
  • Interest Rate:
    3.55% AER
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    No maximum
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online / Branch
Features:

  • FSCS Protected for eligible deposits up to £85,000
  • Top up or access your savings instantly via transfer
  • Save from £1 up to £2 million
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
GET DEAL
Revolut Grow Account
  • Interest Rate:
    2.25% AER (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    £500k
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
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
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
GET DEAL

A Comparison of UK Business Savings Accounts

Putting your business’s hard-earned cash to work is an important step in ensuring its long-term financial health. A dedicated business savings account allows you to separate your surplus funds from your day-to-day operational account, earning interest and creating a valuable buffer for the future. With a variety of account types available, understanding the landscape is key to selecting the one that best aligns with your company’s goals.

Exploring the Different Types of Business Savings Accounts

The UK market offers a range of business savings accounts, each designed to cater to different needs regarding access to your money and the interest you can earn.

Easy Access Business Savings Accounts

As the name suggests, these accounts offer the most flexibility, allowing you to deposit and withdraw funds without notice. This makes them an ideal choice for building an emergency fund or for holding money that you may need to access at short notice. The trade-off for this convenience is typically a lower interest rate compared to other savings options.

Notice Business Savings Accounts

Notice accounts offer a middle ground between easy access and fixed-term accounts. To withdraw funds, you need to provide a set amount of notice to your bank, which can range from around 30 to 180 days. In return for this reduced accessibility, you’ll generally benefit from a more competitive interest rate than you would with an easy-access account. These can be a good option for funds you know you won’t need immediately but want to keep relatively liquid.

Fixed-Term Business Savings Accounts

If you have a lump sum of money that you can afford to lock away for a set period, a fixed-term account, also known as a business bond, can offer some of the most attractive interest rates. The term lengths can vary, often from six months to five years. During this time, you typically cannot access your funds. These accounts are well-suited for specific, long-term savings goals where you have a clear timeframe in mind.

Key Considerations When Comparing Accounts

When weighing up your options, it’s important to look beyond just the headline interest rate.

Interest Rates: AER and Gross

The Annual Equivalent Rate (AER) is a figure to understand. It illustrates what the interest rate would be if interest was paid and compounded once a year. This allows for a like-for-like comparison between accounts with different interest payment frequencies. The gross rate, on the other hand, is the interest rate before tax is deducted.

Minimum and Maximum Deposits

Be aware of any minimum deposit requirements to open an account, as well as any ongoing minimum balance you need to maintain to be eligible for the advertised interest rate. Some accounts may also have a maximum deposit limit.

Account Management and Accessibility

Consider how you prefer to manage your business finances. Some providers offer a fully digital experience with online and mobile app-based banking, which can be convenient for businesses on the go. Others may offer branch access, which could be important if you handle cash regularly. 

The Application Process

Opening a business savings account is a relatively straightforward process. You will typically need to provide details about your business, including its name, address, and Companies House registration number if you are a limited company. You will also need to provide identification for the directors or partners of the business.

The Importance of FSCS Protection

The Financial Services Compensation Scheme (FSCS) provides a safety net for your business’s savings. For eligible businesses, the FSCS protects up to £85,000 per authorised financial institution. This means that if your bank were to fail, your deposits up to this limit would be safe. It’s important to note that if you are a sole trader, your personal and business savings with the same banking institution are typically combined under a single £85,000 limit. For limited companies, the business is a separate legal entity and will have its own £85,000 protection limit, distinct from the personal savings of the directors.

Best Business Savings Account FAQs

1. Can my business have more than one savings account?

Yes, there’s no limit to the number of business savings accounts you can open. In fact, using a combination of different account types can be a smart strategy to manage your funds for various purposes, such as short-term needs and long-term goals.

2. Is the interest earned on a business savings account taxable?

For limited companies, any interest earned on a business savings account is considered part of the company’s profits and is subject to Corporation Tax. For sole traders, this interest is added to their other income and is subject to Income Tax.

3. What is the difference between AER and gross interest rates?

The gross interest rate is the rate of interest your money earns before any tax is deducted. The Annual Equivalent Rate (AER) shows what the interest rate would be if interest was paid and compounded once each year. It’s a useful tool for comparing accounts with different interest payment frequencies.

4. Are online-only business savings accounts safe?

As long as the provider is authorised by the Prudential Regulation Authority (PRA) and your deposits are covered by the Financial Services Compensation Scheme (FSCS), an online-only account is just as safe as an account with a traditional high-street bank.

5. What documents do I need to open a business savings account?

Typically, you will need to provide proof of your identity and address, as well as documents relating to your business. For a limited company, this will likely include your Companies House registration number and details of all directors. For sole traders, proof of your business address and your Unique Taxpayer Reference (UTR) may be required.