Our Business Easy Access Savings Accounts
Easy Access Business Account
A competitive, variable interest rate for the term. You can get next working day access whenever you want.
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks. GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account. Terms and conditions (online accounts)
Financial Services Compensation Scheme (FSCS)
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
Below are some of the most common queries about our savings accounts.
What are the advantages of opening a business savings account?
A business savings account is an ideal option for business owners who wish to protect and grow their cash reserves.
Setting up a business savings account can help your business operate more efficiently. It means you’ll have money set aside for any unplanned business expenses such as emergencies and business projects.
Plus, it makes sense to open a savings account and put spare funds to work, earning a competitive interest rate on the balance.
There are different business savings accounts designed to suit businesses of all types and sizes. The type of business savings account you choose will depend on your needs — are you looking for easy access, or can you set aside a significant amount of money for an extended period?
Are my business savings deposits protected?
Eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 per person by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
Can I choose how my interest is paid?
Yes, you can. Interest can be credited to your account with us or paid to your Nominated Account. When applying for your Personal eSavings Account we will ask you to choose how you want us to pay you interest.
You can also choose whether the interest is paid monthly or annually when you apply for your account.
If you already have an account and want to change how you receive interest, please contact us.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
How do I pay tax on business savings accounts?
As the interest rates on our business savings accounts are calculated as gross, your account will display interest before taxes are deducted. You will need to deduct tax yourself by declaring it as part of your annual tax return.
Can the interest rate change on an easy access business savings account
Yes, the interest rate is variable, so it can change.
You can find out more about how interest rates can change in our Terms and Conditions for business savings accounts, which you’ll find on our savings documentation page.
When can I make a deposit into my easy access business savings account?
You can add money to your account, up to your maximum deposit amount, whenever you like.