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4.07% AER
Tide Banking
Business Savings Accounts
Interest Rate
Interest Paid
Monthly
Open With
Min: £1
Max: £85000
Notice Period
None
Interest Paid Monthly
Anytime Access to your money
Track everything in app.
4.08% AER*
Allica Bank
Instant Access Business Savings
Interest Rate
4.08% AER* (variable)
Interest Paid
Monthly
Open With
Min: £50000
Max: £5000000
Notice Period
None
Earn 4.08% AER* (variable) on Instant Access Savings Pot, interest paid monthly
Eligible customers are covered by FSCS up to £85,000.*
Unlimited withdrawals
Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.
How do Business Savings Accounts Work?
Business Savings Accounts are almost identical to personal savings accounts, except they're specifically tailored to meet the needs of businesses. Like personal savings accounts, Business Savings Accounts enable you to earn interest on the money your business deposits into your account. This interest rate can be fixed (meaning it stays the same) or variable (meaning it fluctuates) depending on the account type.
The steps for opening a Business Savings Account are quite straightforward:
Compare accounts and find the one you want
Click to apply and enter your details
The provider will assess your application
Once approved, make your first deposit.
It's that simple. Once your account is open, you can start earning interest on your deposits.
What are the Benefits of a Business Savings Account?
Future Business Growth
By earning interest on your savings, you can accumulate funds that you can use to grow your business in the future.
Better Financial Management
By separating your business savings from your operating accounts, you enable better financial management.
Saving Incentives
Some Business Savings Accounts have limited withdrawal features, incentivising your business to grow its savings.
What Type of Business Savings Accounts are Available?
Instant & Easy Access Accounts
Instant and Easy Access Savings Accounts allow you to deposit and withdraw money whenever you need to, making them the most flexible savings account type available. The trade-off for this flexibility is typically lower interest rates than other Business Savings Account types.
Notice Accounts
Notice Accounts provide a middle ground between Easy Access and Fixed Rate Accounts. You can typically make regular deposits, but you need to give notice (usually between 30 and 90 days) to withdraw funds. In exchange, you get access to more competitive interest rates.
Fixed Term & Fixed Rate Accounts
Fixed Term and Fixed Rate Accounts usually offer the highest interest rates of all savings account types in exchange for limited access to your funds for a predetermined period. This period will be set when you open the account and make your deposit, with terms ranging from 6 months to a year and longer.
It's important to note that with a Fixed Rate Account, you agree not to withdraw your funds during the predetermined period. Some providers may allow you to make an early withdrawal, but you may incur a penalty.
Why Compare Business Savings Accounts with Us?
It's Free
We don't charge for our comparison service, and we never will. Our service is completely free to use, so why not give it a go?
We Cut Through the Jargon
We know your time is valuable, which is why we endeavour to explain anything in plain English.
We Search the Market for You
We work with partners we trust to bring you Business Savings Accounts with competitive interest rates in one convenient location.
Business Savings Account FAQs
The best business savings account for you will depend on how you want to access your savings. We've put together a more detailed guide on the main savings account types further up this page, but a simplified explanation is as follows:
Instant and Easy Access Accounts: Better for businesses wanting to make more frequent withdrawals
Notice Accounts: Better for businesses wanting to make less frequent withdrawals
Fixed Term and Fixed Rate Accounts: Better for businesses who can commit to a predetermined withdrawal upon opening the account.
While it's important to get the right savings account for your business, it's worth noting that savings accounts with more limited withdrawal options typically offer more competitive interest rates.
Comparison is key to finding the best interest rate, which is why we work with providers we trust to offer you a selection of Business Savings Accounts. However, to get the best business savings rate, it's typically best to look for an account with limited withdrawal options, such as a Fixed Rate Account with a longer fixed term.
Yes, many Business Savings Account providers offer charity savings accounts, as well as Savings Accounts for a variety of business types.
You can compare Business Savings Accounts in a variety of ways. The most common two options are:
Spend time checking each individual provider's accounts and rates
Use a comparison service to compare a range of providers in one place.