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Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options Eligibility SG Verdict
Aldermore
3.66% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
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  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually
  • Paid on monthly or annual anniversary of account opening

- Limited Partnership

- LLP

- Ltd Company

Peterborough based Aldermore launched in 2009 and look after over £13.1bn of deposits.

You can find out more about them here


Allica Bank
4.01% £20,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
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Post
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  • 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. 

You can find out more about them here

A| Shawbrook Bank
4.01% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid 31st December

-       Limited Company

-       Limited Liability Partnership

-       Partnership

-       Sole Trader

 

-       Must be UK registered business

Essex based Shawbrook launched in 2011 and re-launched its business savings proposition in 2019.  It has been a stalwart in the business best buys since.

Find out more about them here

Bath Building Society
2.39% £2,500 / £250,000

Branch
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Post
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Branch
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  • Paid Monthly
  • Paid Annually

Sole trader

Partnership

Ltd Company

LLP

Plc

Not for profit

Bath is one of the smallest building societies in the UK, looking after £225m of deposits.

Withdrawals are restricted to a maximum of two per calendar month

Buckinghamshire Building Society
3.05% £100 / £750,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
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  • Paid Away or Compounded
  • Paid Annually
  • Paid 31st December

- Limited Company

- Limited Liability Partnership

- Not for profit organization

- Partnership

- Public Limited Company

- Sole Trader

- Accountants

- Associations

- AVC Trustees

- Charities

- Churches

- Clubs

- Co-operatives

- Embassies

- Estate Agents

- Executors

- Financial Intermediaries

- Friendly Societies

- Pension Fund Managers

- Schools/Colleges

- Scottish Solicitors

- Social Enterprises

- Solicitors

- Trade Union 

There is a local version of this account, which pays an attractive 3.30%, but this is only available for Buckinghamshire based businesses.

Charity Bank
3.26% £10,000 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
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  • Paid Quarterly

-       Partnership

-       Ltd Company

-       Must be UK registered company

-       Directors/shareholders must be UK resident

Charity Bank is an ethical bank owned by charitable foundations, trusts and social purpose organisations based in Tonbridge.

Newcastle Building Society
3.60% £1 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Monthly
  • Paid Annually

-       Ltd Company

-       LLP

-       Partnership

-       Sole Trader

-       Maximum turnover of business is £42.5m

 

Newcastle is the eighth largest building society in the UK, looking after £3.4bn of savings

Saffron Building Society
4.35% £5,000 / £5m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid 31st December
  • Paid Compounded

-       Ltd Company

-       Limited Liability Partnership

-      Not for profit

-    Charities

 

Very competitive rate from Essex based Saffron, who look after £898m of savings and are one of the top 20 building societies, by size, in the UK

Virgin Money
3.80% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually
  • Monthly Interest Paid on the 10th of the Month

- Sole trader
- Partnership
- LLP
- Ltd Company
- Plc

Must be UK registered business.

Directors and owners must be UK resident    

Virgin Money entered the business savings market in January 2018, and launched a best buy rate in May 2018.  They've historically been very competitive however they cut their rate to 0.40% in April 2020.

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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