You’ve got money coming into your business, you’ve covered your liabilities, and you have cash to spare – great. But now it’s just sitting in your business bank account generating a measly level of interest. Not so great.
Why not deposit those surplus funds into a dedicated business savings account? That way you can grow your revenue even further without expending any extra effort.
There are several types of business savings accounts, including easy access, notice, and fixed term, each offering varying levels of interest and access, as well as minimum and maximum deposits values.
In this article, we bring you the 8 best savings accounts for small businesses in 2026.
What is a business savings account?
A business savings account is a type of bank account that allows businesses to earn interest on any surplus funds they deposit. Interest is calculated as a percentage of the value of your overall deposit.
The different types of business savings account
Business savings accounts come in three forms:
Easy access: You can usually deposit and withdraw whenever you need to
Notice: You have to alert the bank of your intention to withdraw within a certain timeframe (e.g 90 days)
Fixed term: Your savings are locked away for an agreed length of time
How does a business savings account work?
Any deposits you make will earn interest for the period of time they remain in the account. Typically, interest is calculated every day and paid monthly.
For example:
If you deposit £10,000 in an easy access account at AER 2.53%, and don’t make any withdrawals, after 12 months your balance would be £10,253
You have to pay taxes on any interest you earn as it is considered profit. If you’re a limited company, you’ll pay capital gains. If you’re a sole trader, you’ll pay income tax on anything above the tax free allowance.
The pros and cons of savings
Pros
There’s a variety of savings account types to suit different needs and preferences
Maximise the value of your revenue by earning interest on surplus funds
Ringfence cash to use for particular liabilities and goals later on
Cons
Interest rates can vary considerably and be much lower after the introductory offer
You may have to lock your funds away for several years to access the best interest rates
Many accounts come with restrictions, which can be frustrating if they don’t align with your business goals
The best business savings accounts for UK small businesses
Aldermore
Easy Access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
2.45% AER (variable)
3.65% AER
4.16% AER
4.00% AER (variable)
Minimum balance requirements: £1,000 for all Aldermore accounts. No fees.
Aldermore promises simple account management with no fees or charges. It was also awarded Most Transparent Savings Provider by MoneyComms in 2025.
Though the minimum deposit for the easy access account is higher than some competitors, it does offer a 6-month fixed account as well as a 12-month account.
Eligibility
To open an account, you must be:
A business that is only tax-resident in the UK
Over 18 years of age, UK resident and only tax resident in the UK – this applies to all controlling persons, significant owners and directors
You can’t be a US citizen
You need to own a mobile phone and have an email account
Hampshire Trust Bank
Easy Access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
3.61% AER (variable)
N/A
4.00% AER
3.25% AER (variable)
£5,000 minimum deposit requirement.
Hampshire Trust Bank provides easy access, notice, and fixed-term accounts for UK businesses. The easy access saver account offers 3.61% AER with unlimited withdrawals, while the notice account (Hampshire currently offers only 95-days) provides 3.25% AER. Fixed-term deposits range from 1 to 5 years, with rates between 4.16% and 4.25% AER.
A £5,000 minimum deposit is required for all accounts (even the easy access), with a maximum of £750,000. However, Hampshire allows you to open multiple accounts, with a combined balance cap of £1m. Interest is paid annually on the anniversary of the first deposit. HTB also now offers an easy access tracker account which has a minimum deposit of £20,000 and a maximum of £1m. The AER is currently 3.61%.
Eligibility:
Find out more
Shawbrook Bank
Easy Access
6-month Fixed Rate
12-month Fixed Rate
100-day Notice
3.86% AER (variable)
N/A
4.22% AER
3.51% AER (variable)
£1,000 minimum deposit for easy access.
£5,000 minimum deposit for 12 month and notice.
Shawbrook Bank offers easy access, notice, and fixed-term deposits, with multiple terms and notice periods available. The easy access account pays a variable 3.86% AER and allows unlimited withdrawals.
Notice periods are 45 or 100-day, with rates up to 3.51% AER. Fixed-term deposits are available for 1 and 2 years, with rates reaching 4.22% AER. A minimum deposit of £5,000 is required (fairly typical for these kinds of accounts), with a maximum of £2m. Interest is calculated daily and paid either monthly or annually.
Eligibility:
18 or over
UK resident/business
Sole trader, LTD, partnership (but no an LLP)
Maximum of 4 shareholders
All directors/shareholders must meet the above requirements
Find out more
United Trust Bank
Easy Access
6-month Fixed Rate
12-month Fixed Rate
120-day Notice
3.90% AER (variable)
3.89% AER
3.95% AER
3.75% AER (variable)
Minimum deposit £5,000 for all accounts.
United Trust Bank provides easy access, notice and fixed-term business bonds savings accounts. The easy access account has an interest rate of 3.90% gross AER, a minimum deposit of £5,000 and a maximum of £100,000.
There are 30 and 120-day notice period options, with interest rates up to 3.75% AER. Fixed-term business bonds offer 3-month to 5-year terms, with rates reaching 4.00% AER. Deposits range from £5,000 to £5m for notice and fixed term accounts, with no withdrawals allowed before the term ends.
Interest is paid annually on 31st October and at maturity for fixed-term bonds. If you take no action at maturity, United moves your funds into a seven-day instant access account. After four seven-day renewals, the full amount will be paid into your nominated account.
Eligibility:
UK business registered with Companies House
LTD company or sole trader
Find out more
Cynergy
Easy access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
3.90% AER (variable)
N/A
4.15% AER
3.90% AER (variable)
£10,000 minimum deposit for accounts.
Cynergy offers business savings accounts with both easy access and notice options. The notice accounts available with 95, 120 and 180-day terms and offer interest rates of up to 4.00% AER. The easy access offers 3.90% AER. Minimum deposits start at £10,000 for notice accounts, with a generous maximum limit of £10 million, while the easy access account requires £10,000 to open. Interest is calculated daily and paid monthly. A unique feature of Cynergy is the ability to grant access to up to 10 team members, allowing them to make deposits and withdrawals on behalf of the business.
Eligibility:
UK business registered with Companies House
Partnership, LLP or LTD company
Find out more
Tide
Easy Access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
3.35% AER (variable)
N/A
N/A
N/A
Note: 3.35% AER variable is a boosted rate for new members free for 4 months with balance of up to £100,000. With Tide Free, this drops down to 2.27% AER variable.
Tide offers just the one easy access savings account, which has an introductory variable AER of 3.35% for new customers. After four months, this reverts to the standard rate for your business account plan, which varies.
With a low minimum deposit of just £1, and no maximum (though interest stops accruing on balances above the limit on your plan) Tide’s easy access account is a flexible option for businesses of all types and sizes. The account integrates seamlessly with a Tide current account but is also available to non-Tide customers. Interest is paid monthly, and there are no withdrawal restrictions, ensuring businesses can access their funds whenever needed.
Eligibility:
You do not have to be a Tide Business Current Account holder
Find out more
UBL
Easy Access
6-month Fixed Rate
12-month Fixed Rate
90-day Notice
3.00% AER (variable)
N/A
4.21% AER
4.05% AER (variable)
Notes: easy access interest credited twice a year. Minimum deposit £2,000 for 12 month. Interest credited twice a year for notice account in June and December. £1 minimum deposit for notice account.
All of UBL’s savings products are underpinned by a dedicated relationship manager. Easy access and notice accounts are available as a single or joint account.
Eligibility
The business should be Sole Proprietors, Partnerships, Trusts or Private Limited Companies (for Deposit account)
Allica Bank
Easy Access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
2.80% AER (variable)
3.86% AER
4.00% AER
3.65% (variable)
£20,000 minimum deposit.
Allica Bank offers an easy access savings account, as well as two notice and three fixed rate accounts. While its minimum deposit is high (£20,000), it allows a sizeable maximum deposit cap of £2m.
You can open and manage your account online. For the fixed rate accounts, you must deposit the minimum of £20,000 within two weeks.
Eligibility:
UK based and registered with companies house
You must be a company director or secretary
Find out more
How to choose the right business savings account
To choose the right account, first establish your business savings goals and priorities. For example, do you need to be able to make withdrawals or are you happy to forgo access to your funds until they reach maturity?
Here are three typical scenarios and the most suitable accounts for each one.
I want to earn interest on my surplus funds, but I want to be able to withdraw funds to cover expenses or take advantage of growth opportunities.
Open an easy access savings account. Most allow you to make withdrawals whenever you need, though you may sacrifice a higher level of interest for the privilege.
I want to earn a decent interest rate and I don’t need immediate access to my savings, but I want some flexibility.
Choose a notice account. You’ll earn a decent level of interest and you’ll be able to make withdrawals provided you give sufficient notice.
I’m happy to lock away my funds for an extended period of time to maximise my interest.
A fixed term account is the one for you. You won’t be able to make any withdrawals but you’ll have the best return on your deposits.
You should also consider the:
Minimum: Some minimum deposits can be as low as £1, while others can be upwards of £5,000. If you can’t afford to deposit the minimum, it’s not the account for you.
Maximum: If you have a lot of spare funds, ensure the savings account has a high enough deposit ceiling to make the most of your savings.
Why not work with Akoni?
You don’t have to deposit your funds with just one savings provider, or go through the rigmarole of opening multiple accounts to access the best rates. The Akoni cash management platform can do it all for you.
Via a single application, you’ll gain access to more than 20 different banks, and you can move your funds between accounts with ease to access the best rates on a daily basis (depending on individual terms). Not only is this an efficient way to maximise your business savings, it means you can spread your risk across multiple FSCS-protected accounts.
What’s more, Akoni will alert you if you could be getting a better deal and you can view and manage all your funds from the savings dashboard.
See also: Small business savings account comparison
How do traditional banks compare?
Easy Access
6-month Fixed Rate
12-month Fixed Rate
95-day Notice
Barclays
1.05% AER (variable)
N/A
N/A
N/A
HSBC
1.33% AER (variable)
3.18% gross
N/A
N/A
Lloyds Bank
0.60% AER (variable)
2.05% AER
2.04% AER
2.66% AER (variable)
Santander
0.80% AER (variable)
N/A
2.20% AER
N/A
Virgin (Nationwide)
3.50% AER (variable)
3.38% AER
3.70% AER
3.25% AER (variable)
What is a business savings account?
A business savings account is similar to a personal savings account only it is used specifically by the business. Cash reserves are placed into this account and earn interest, unlike most current accounts which do not offer interest.
Some business savings accounts require a minimum initial deposit to open the account.
A business savings account allows you to earn interest on reserves and keep funds separate from a current account.
What is AER?
AER stands for Annual Equivalent Rate, which shows the interest earned on a savings account if it was held over a full year, taking into account compounding interest.
A Variable AER means that the interest rate can change depending on market conditions or the Bank of England raising or lowering the base rate.
A Fixed AER is when the interest rate stays the same over a set period of time (for example 1 year).
How to choose the right account
While the interest rate (AER) is an important consideration, it is also important to check that the provider is covered by the Financial Services Compensation Scheme (FSCS).
What is FSCS protection?
FSCS protection is a compensation scheme for customers of UK authorized financial services firms. It covers up to £120,000 per eligible person, per bank/building society/credit union if the firm fails.
Do businesses get FSCS protection?
If you run your business as a separate legal entity (such as a limited company or LLP) it will receive FSCS protection (£120,000 per UK banking institution). If your personal account is with the same bank provider as your limited company/LLP, your protection would be £120,000 for your business account, and £120,000 for your personal account.
If you run your business as a sole trader, your business and personal accounts will be aggregated together. This means that if your personal account is with the same bank provider as your sole trader business account, you would only be able to claim £120,000 total.
What is a cash savings platform?
A cash savings platform – also known as a cash deposit aggregator – allows you to open and manage multiple savings accounts from different providers in one online hub.
Rather than submit an application to each bank to open a new savings account, you only need to complete your initial application to the platform, saving you a lot of time. If you have more than £120,000 in your bank, you can also use a cash savings platform to increase your FSCS protection.
Comparison table of cash savings platforms available to businesses
Provider
Minimum Deposit
Platform Fees
Number of providers
Top Instant Access Rate
Akoni
£1
Up to 0.25% of deposit and 0.2% interest share
11+
3.61% AER
Bondsmith
£100,000
Unspecified interest share
8+
Not specified on website
Flagstone
£100,000
0.3% interest share
40+
3.56% AER
Insignis
Not specified
0.25% of deposit
15+
Not specified
Further reading
Over three million SMEs get no interest from their business savings
