Best Buy - Business Savings Accounts


Find the best deposit account interest rates for your business.
CompanyAERNotice / TermDeposit


Business Savings
1.50%
None£1


Business Instant Access
1.50%
Instant£10000


Business Notice Issue 2
1.26%
90 Day£10000


200 Day Notice Business Deposit
1.25%
200 Day£500


100 Day Notice Business Savings Account Issue 11
1.25%
100 Day£5000


Business Tracker Issue 5
1.15%
60 Day£10000


95 Day Notice
1.11%
95 Day£1000


100 Day Notice Business Deposit
1.10%
100 Day£500


Easy Access Business Savings Account Issue 5
1.10%
None£1000


Business Direct 30
1.05%
30 Day£2500
Last Updated: Tuesday 3 March 2015 14:26

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 

What are business deposit accounts?

A deposit account is basically a business savings account. You might want to consider a business deposit account if your business has a large cash surplus that you’d like to be earning some interest on, either to act as a reserve, or to save for new equipment, a staff outing or as a deposit on larger premises.

Whatever the reason for saving, you want your money to be earning as much interest as it can, instead of languishing in your business’ current account where it may not be earning as much.

Business deposit accounts can allow instant access to your money, or require you to give notice before withdrawing funds so think about how much access your business might need to this money before choosing an account.

Depositor protection for businesses

Money held in a business savings account may fall under the protection of the Financial Services Compensation Scheme.

A smaller business’ savings may be protected if it meets two of the following:

  • It has 50 or fewer employees
  • It has a turnover of £6.5 million or less
  • It has a balance sheet total of £3.26 million or less

The Financial Services Compensation Scheme protects the first £85,000 an eligible business has held under a single UK banking licence. Some banks and building societies share a licence, so it’s best to spread money between institutions to make sure it’s protected.

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