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Business 1 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options Eligibility SG Verdict
Al Rayan Bank
0.55% £1,000 / no maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid Quarterly
  • Paid Away

-       Ltd Company

-       LLP

-       Not for profit

-       Partnership

-       Plc

-       Sole Trader

-       Charities

-       Client Monies

-       Clubs

-       Executors

Al Rayan Bank is a Sharia Bank and operates under Islamic Finance principles    

The rate offered represents an expected profit rate, rather than a fixed interest rate.  The Bank has always delivered it’s expected profit

Aldermore
0.85% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

-       Sole trader

-       Partnership

-       Limited Partnership

-       LLP

-       Ltd Company

Peterborough based Aldermore launched in 2009 and look after over £12.4bn of deposits.

You can find out more about them here

Allica Bank
0.85% £10,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Monthly
  • Paid Annually
  • Paid On Maturity

- Ltd Company only

- Must be UK based

Allica are based in Milton Keynes and were awarded their banking licence in 2019 and launched in April 2020. 

Clydesdale Bank
0.50% £5,000 / £5,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

• Limited Company

• Limited Liability Partnership

• Not for profits

• Partnership

• Sole Trader

• Charities

• Client Monies

• Clubs

Clydesdale Bank makes their first appearance in our best buy tables since our launch.

This account is likely to appeal only to businesses close to one of Clydesdale’s branches, or its sister brand, Yorkshire Bank, who have the same offer

Hampshire Trust Bank
1.11% £5,000 / £750,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Annually

-       Ltd Company

-       Plc

-       Partnerships

-       LLP

-       Registered Charities

-       Trusts

-       Clubs & Societies

-       Associations

-       Must be UK registered business

London based Hampshire Trust Bank launched in 1977 but was acquired by a new management team in 2014.  It has consistently appeared in the business account best buy tables since launch.

Hampshire look after £1.1bn of deposits

Hodge Bank
0.75% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually
  • Paid Away

-       Limited Companies

-       LLPs

-       Sole Traders

-       Partnerships

 Hodge bank is based in South Wales and was authorised in 1987 and looks after just under £1bn of deposits.

Redwood Bank
0.90% £10,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually
  • Monthly interest paid on the last working day of the month Annual interest paid on 5th April

-       Sole trader

-       Ltd company

-       Partnership 

-       LLP

-       Society, association

-       Charity 

-       Must be UK registered business

-       Shareholders must be UK residents    

Redwood Bank launched in August 2017 as a specialist business bank

Redwood has been consistently competitive on business accounts since launch 

Shawbrook Bank
1.00% £5,000 / £2m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually

-       Limited Company

-       LLPs

-       Partnership

-       Sole Trader

-       Must be UK registered business 

Essex based Shawbrook launched in 2011 and re-launched its business account proposition in 2019.  It has been a stalwart in the business best buy tables since then.

United Trust Bank
1.15% £5,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity

-       Sole Trader

-       Ltd Company

-       LLP

-       Partnership

-       SIPPs / SASSs

-       Trusts

-       Clubs & Societies    

United Trust Bank was founded in 1955 and is a specialist lender with a single branch in Moorgate, London.  They look after £1.22bn of savings

Virgin Money
0.50% £1,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually

·       Sole trader

·       Partnership

·       LLP

·       Ltd Company

·       Plc

 Must be UK registered business.

Directors and owners must be UK resident    

Competitive rate from Virgin, who entered the business savings market in January 2018.

The low minimum deposit will appeal to many businesses as will the free access to Virgin Money Lounges

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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