At Shawbrook our Easy Access Business Account really is easy. You can make withdrawals any time (subject to a minimum withdrawal amount) without giving us notice, you can add funds whenever you like (up to the account maximum balance), and you manage your account online. Interest is paid annually or monthly - it’s your choice.
Before you apply for an account please read the product summary below and the:
|AER||Gross Annual Interest||Gross Monthly Interest|
Interest is paid Gross.
Interest rate where the balance falls below the minimum account opening balance; 0.05% Gross/AER (Variable)
Interest is calculated daily. Your interest will be paid on the anniversary of the date of receipt of your first deposit – this will be either monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.
The Interest rate is variable and may be altered in accordance with the account Terms and Conditions.
|Deposit at account opening||Balance after 12 months||Interest earned|
This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.
Apply online if you:
Then please call us on 0345 266 6611
The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the Terms and Conditions that apply to the account.
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. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.uk
AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.
Gross. This is the interest rate without the deduction of income tax. This is the interest rate paid on your account.
Shawbrook is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/prudential-regulation
Our business easy access savings account offers you a competitive rate and complete control over your funds.
You can deposit anywhere between £1,000 and £85,000, withdraw funds (subject to a minimum withdrawal amount) without any notice periods, and add to your savings — whenever you like.
It’s quick and easy to open a business savings account online with Shawbrook. We prefer to keep things simple so you can manage your account online, too. But if you have any questions, our dedicated customer service team is on hand every step of the way.
Find out more about our easy access business account and its current interest rate in our table below.
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.
Shawbrook is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. The FCA and PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/prudential-regulation.
Before opening an account, it’s important you have all of the necessary information.
Here at Shawbrook Bank, we believe in straightforward savings. Before deciding whether our easy access business savings account is the right option, you may find the following information useful.
If you’re looking for quick, flexible access to your cash while earning an attractive interest rate, our competitive, easy access savings account may be the best business savings account for you. You can withdraw cash (subject to a minimum withdrawal amount) and add to your funds whenever you like without incurring any fees.
What’s more, our easy access account gives flexible access to your business savings, making it simple to withdraw and deposit funds at any time.
It’s important for business owners to have money set aside for any unplanned expenses such as emergencies and business opportunities. You never know what’s around the corner, so it can help to have cash readily available whenever you need it.
All eligible deposits into our 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.
The interest rate on our business easy access savings accounts is variable and subject to change per our terms and conditions. Please refer to your Key Product Information document and our Terms and Conditions for more details.
You can apply for an easy access business savings account online if:
You will need to contact us by telephone to open an account if:
To open an account, your business must be UK-registered and all directors and beneficial owners must be at least 18 years old, a permanent UK resident, and only subject to UK tax. You can only hold one easy access account per business with us. Our business easy access savings accounts are not available to charities or trusts.
You can withdraw from our business easy access savings account without notice. You won’t be charged a fee for withdrawals, and there are no limits to the number of withdrawals you make, but the account is subject to a minimum withdrawal amount of £500.
For more information, please refer to your Key Product Information document.
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 choose. If the anniversary falls on a weekend or a bank holiday, your interest will be credited on the next working day.
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.