Business Deposits - Easy Access | The Savings Guru

Business Easy Access

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	Eligibility	SG Verdict
AL Rayan	0.80%	£500 / No Maximum	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly	- 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.
BB Aldermore	0.50%	£1,000 / £1m	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually Paid on monthly or annual anniversary of account opening	- Sole trader - Partnership - Limited Partnership - LLP - Ltd Company	Aldermore was formed in 2009 and is now part of South African banking group FirstRand. It manages over £10bn of savings.
Buckinghamshire Building Society	0.40%	£5,000 / £500,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	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Solicitors - Social Enterprises - Solicitors - Trade Union	This account is quite restrictive as only £20,000 can be withdrawn per calendar year by a maximum of two withdrawals without notice or penalty. After this, no further withdrawals are permitted until 1st January the following year. A third withdrawal results in automatic closure of the account. There is a local version of this account, which pays a very attractive 1.20%, but this is only available for Buckinghamshire based businesses.
Charity Bank	0.75%	£10,000 / £500,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Quarterly	- Sole trader - 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. The rate on this account will reduce to 0.60% on 16th June 2020.
Kent Alliance	0.90%	£1,000 / £1m	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	- Maximum of 3 Directors who are also major (25%+) shareholders - Ltd companies only	Competitive offering from Kent Reliance, who are part of FTSE listed One Savings Bank plc, and have held this rate without change since 2017
Monmouthshire Building Society	0.90%	£1,000 / £5m	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Annually Annual interest paid 31st March Added to the account	- Limited Company - Accountants - Estate Agents - Schools/Colleges - Solicitors - Must be UK registered business - Maximum of 4 signatories	Monmouthshire Building Society is based in Newport and was founded in 1869. It looks after £818m of savers deposits This rate falls to 0.50% with effect from 28th May 2020
Saffron Building Society	0.45%	£10,000 / £500,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Annually Paid 31st December Paid Compounded	- Ltd Company - Limited Partnership - LLP - Charity - Must have UK business current account - All signatories must be UK resident taxpayers	Very competitive rate from Essex based Saffron, who look after £850m of savings and are one of the top 20 building societies, by size, in the UK
Apply Now	1.00%	£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 but didn’t launch this first business easy access account until November 2019. It went straight to the top of our best buy tables, and stayed there, until pipped by Saffron in April 2020.
TSB	1.00%	£5,000 / £5m	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly	- Ltd Company - LLP - Not for profit - Partnership - Plc - Sole Trader - Maximum turnover of business is £2m	TSB was relaunched in 2013 as part of a separation of part of the Lloyds Banking Group. Since June 2015, it has been part of Spanish Banking Group Sabadell and has around 500 branches across the UK
Vrgin Money	0.40%	£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.

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