Which Business Saving Account providers do we work with?
We compare a wide range of Business Saving Account providers in the UK, including:
For your business, you can invest your money smartly but putting money into a business savings account and maximizing your overall profit. Many business owners seek for business savings accounts with instant access, allowing them to take out money if they need to and manage their company cash flow effectively.
Proper Finance offers a whole of market comparison for business savings accounts – so you can select the best terms for you and your business and apply directly online through our website.
A business savings account is specifically designed for companies and charities too and allows them to open an account with as little as £1 and receive interest over a 1 to 2-year term. Some accounts and business bonds will require you to open with a minimum of £500 or £1,000 and this will often give you access to higher rates.
In terms of the types of savings accounts available for businesses to choose from, there are three main categories:
If you are looking to compare business savings accounts online, then do not automatically assume that you should be simply looking for the business savings account with the highest interest rate available. It is highly recommended that you consider the following prior to opening a business savings account:
When looking online and making comparisons between business savings account you should compare each of them on the basis of the interest you could potentially earn over a year.
There are three different types of interest rates you could receive from a business savings account:
We aim to be as approachable as possible for our customers, and will always do our very best to assist you with any and all queries you may have concerning any part of our application process and more.
Our online application only takes minutes to complete, with decisions being made very quickly after this. A member of staff will contact you to help you proceed with the final steps.
Each and every one of the providers we work with are fully checked to ensure their reputability, their trustworthiness, and furthermore their competency in helping to provide you with the financial services you require.
The Proper Finance comparison site is free to use and there are no upfront fees for filling in our online application.
It is possible for you to open a business savings account if you meet these requirements:
Yes, but there are some criteria you will need to meet first before being able to open one. This includes being over the age of 18, you are the owner or the director of the company and the company itself is based in the UK.
This depends on the provider. Certain business savings accounts will only need £1 to open the account, whereas other accounts could require a minimum deposit of £50,000.
In most cases, a business savings account is free. However, it is possible that you could encounter certain fees for the way you use your account. For example:
Yes, but remember that you must declare exactly how much interest you make from each at the end of the tax year. This is done through the self-assessment form you complete on a yearly basis.
The AER is the acronym for Annual Equivalent Rate and calculates how much you will be earning on the account over the course of a year.
Yes, but it works differently to other kinds of savings accounts available, as you will need to declare the interest made from the account at the end of the tax year through your self-assessment form.
Yes, but remember that you must declare exactly how much interest you make from each at the end of the tax year. This is done through the self-assessment form you complete on a yearly basis.
We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs at the lowest rates.
