If your business has some extra cash on hand, even if it is only for a limited time, it makes sense to put it to work earning interest in a business savings account.
We offer a variety of business savings accounts at Shawbrook Bank. And because we prefer a straightforward approach to savings, we don’t offer bonuses, just consistently competitive business savings rates.
We provide business customers with easy access accounts, notice accounts, and fixed rate bonds. You can deposit anything from £1,000 to £2,000,000.
It is simple to open — and manage — an account with us online, and our dedicated customer service team are here to help if you need them.
Find out more below how your business savings can go even further with Shawbrook Bank.
Our business savings account rates differ and depend on the type of account you choose. If you’re looking for a savings account that offers easy access with no fees, you may prefer our easy access business account.
If you intend to set money aside for a specific period, such as if you know you will have financial obligations in a year or more, then a fixed rate bond may be the right option. You won't be able to access the funds until the term ends, but you'll get a higher rate in exchange. You could enjoy one of the best business savings rates with us if you choose this type of account.
Interest is calculated daily and will be paid on the anniversary of the date we received your first deposit — either monthly or annually, depending on the product you select.
Compare our savings accounts to find an account that matches your needs.
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.
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. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
It’s important to have all the information before opening an account. At Shawbrook, we like to keep our approach to business savings simple.
You can learn more about our business savings accounts by clicking through on the comparison table above. You may also find the following information about our accounts useful.
A business savings account works in the same way as a personal savings account. You can earn competitive business savings account interest rates on cash deposits, but the funds are only used by your company, not an individual.
You can apply for a business savings account online if you are a sole trader, partnership, or limited company (that has not appointed a corporate director, has at least one person with significant control registered at Companies House and no more than four shareholders).
If you are a limited liability partnership with no more than four account parties (including directors, shareholders or signatories), a limited company that has appointed a corporate director or does not have at least one person with significant control registered at Companies House, or already hold a business savings account with us, then please contact us by telephone to open an account.
To open an account, your business must be UK-based and all directors and beneficial owners must be at least 18 years old, a permanent UK resident, and only subject to UK tax.
After opening your account, you can manage it online through our eSavings portal.
The balance limits differ depending on the business savings account you choose. Our easy access business account has a minimum deposit of £1,000 and a maximum deposit of £85,000. Our fixed rate business savings bonds have a minimum deposit of £5,000 and a maximum deposit limit of £2,000,000. Our business savings notice accounts have a minimum deposit of £5,000 and a maximum of £2,000,000.
All eligible deposits into Shawbrook Bank business savings accounts are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS). For more information, please visit www.fscs.org.uk.
As long as you meet the account requirements, you can open as many business savings accounts as you like. You can only hold one easy access account with us, but you can hold an unlimited number of notice accounts or fixed rate bonds.
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. Savings accounts also reduce the temptation to spend. Another advantage is that they protect your funds against theft.
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?
There are three types of savings accounts available to businesses at Shawbrook Bank. You may be wondering what is the best business savings account to suit your needs.
If you’re looking for a flexible account that allows withdrawals without notice (subject to a minimum withdrawal amount of £500), you may prefer our easy access business account. If you’re looking for competitive interest rates and your business can lock money aside for a set time, our fixed rate business savings bond could be the right option for you. Alternatively, if you’ll know in advance when you need funds, you can opt for a business savings notice account and earn a competitive rate by agreeing to a 45 or 100 day notice period.
Choosing the best business savings account for your company might depend on your preference for flexibility or your intention to set aside a lump sum of money until the near future.
It’s essential to make business savings accounts comparisons. Whether you’d like easy access, a notice account or a fixed rate business savings bond, it’s important to find the right option for you.