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Promoted
Tide Instant Saver
  • New customers, boost your business savings with up to 4.00% 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 4.00% 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.
Earn up to 4.00% AER* (variable) plus up to £2,000 cashback on card spend
Tide Instant Saver
  • Interest Rate:
    Up to 4.00% AER* (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    Unlimited
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
  • GET DEAL
Great For:

To Consider:

Features:

  • New customers, boost your business savings with 4.00% AER* variable
  • 1% cashback on all card purchases, up to £2,000 per member
  • 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 4.00% 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. FSCS-Protected, Bank Account by ClearBank
Get up to 4.08% AER* (variable) on Instant Access Savings Pot paid monthly
Allica Bank Instant Access Savings
  • Interest Rate:
    Up to 4.08% AER* (Variable)
  • Minimum Deposit:
    £50,000
  • Maximum Deposit:
    £5M
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
  • GET DEAL
Great For:

To Consider:

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
GET DEAL
*Rate includes standard rate of 3.08% 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
  • Interest Rate:
    Up to 4.07%* AER ** (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    Unlimited
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
  • GET DEAL
Great For:

To Consider:

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
*New Customers: 4.07% AER** (variable) for 60 days on £50k-£500k. Other balances, or post 60 days, get 3.48% AER* (variable). **AER linked to Bank of England base rate. T&Cs apply. Powered by ClearBank
Winner – Money Comms Best Easy Access Business Savings
Cynergy Bank Business Saver
  • Interest Rate:
    3.50% AER (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    £10m
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online
  • GET DEAL
Great For:

To Consider:

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
Criteria:

  • Must be a 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
Apply online and manage your account via our app or website. Unlimited withdrawals with no fees, and the rate stays the same no matter how much is withdrawn. Eligible deposits covered by £85,000 by the FSCS.

Virgin Money Business Access Savings Account
  • Interest Rate:
    3.55% AER (Variable)
  • Minimum Deposit:
    £1
  • Maximum Deposit:
    No maximum
  • Access Type:
    Easy Access
  • Access Methods:
    App / Online / Branch
  • GET DEAL
Great For:

To Consider:

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
Monzo Instant Access Savings Pot
  • Interest Rate:
    1.50% AER (Variable)
  • Minimum Deposit:
    £0
  • Maximum Deposit:
    £1 million
  • Access Type:
    Easy Access
  • Access Methods:
    App/Online
  • GET DEAL
Great For:

To Consider:

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
Criteria:

  • Sole Traders or Ltd company directors in the UK only. Ts&Cs apply
  • You must have a Monzo business bank account to access the savings pot
GET DEAL

The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of eligible deposits per person or company, per firm, which is authorised and regulated by the Financial Conduct Authority (FCA). The limit is the total of all deposits held with one firm. For more information visit www.fscs.org.uk.

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.