The 8 best business savings accounts

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 2025.

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 you business goals

The best business savings accounts for UK small businesses

Bank of London

Bank of London offers both easy access and notice savings accounts. Both accounts have no minimum and allow you to make unlimited deposits during the lifetime of the account, up to a maximum of £2m and £10m respectively. 

For each account, interest accrues daily and is paid at the end of the term. With periods of 31 up to 180 days, Bank of England’s notice accounts allow you to earn higher returns while maintaining some flexibility. And with deposits capped at £10m, they’re suitable for businesses managing large cash reserves.

Eligibility:

Can be a UK or non-UK (subject to terms) business

LTD, LLP and PLCs

Not available to sole traders and freelancers

Find out more

Tide

Term TypeEasy AccessMinimum deposit£1Maximum depositUnlimited (Balance above £75,000 earns no interest)Interest rates4.07% AER variable for new customers (reverts to 3.29% until 1st June 2025)

Tide offers just the one easy access savings account, which has an introductory variable AER of 4.07% for new customers. This is a limited time offer and will revert to the standard 3.29% in June 2025.

With a low minimum deposit of just £1, and no maximum (though interest stops accruing on balances above £75,000) 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:

18 or over

UK business

Valid photo ID

You do not have to be a Tide Business Current Account holder

Find out more

JN Bank

Term TypeEasy AccessFixed TermMinimum deposit£1£100Maximum deposit£500,000£500,000Interest rates3.76% gross/ AER variableBetween 4.40% to 4.80% gross AER depending on term

JN Bank provides both easy access and fixed-term savings accounts with attractive interest rates and low minimum deposits. Its easy access account offers a 3.76% gross/AER variable rate with no limit on the number of withdrawals you can make (although daily withdrawals are capped at £50,000).

Fixed-term options, which do not allow withdrawals before maturity, range from 1 to 5 years, with highly competitive rates of between 4.40% and 4.80% AER. Interest is calculated daily and paid monthly for easy access accounts, while fixed-term accounts receive annual or maturity-based interest payments. The maximum deposit amount of £500,000 is low compared to many of our other providers.

Eligibility:

18 or over

UK resident 

Must have a UK mobile phone, email address and bank account

Find out more

Shawbrook Bank

Term TypeEasy AccessNoticeFixed TermMinimum deposit£1,000£5,000£5,000Maximum deposit£85,000£2m£2mInterest ratesVariable gross AER4.20% annually, 4.12% monthlyVariable gross AER45 day notice: 3.76% annually, 3.70% monthly100 day notice: 4.51% annually, 4.42% monthlyFixed gross AER1 year: 4.56% annually, 4.47% monthly2 year: 4.21% annually, 4.13% monthly

Shawbrook Bank offers perhaps the best range of business savings accounts of all the providers we’ve reviewed, including easy access, notice, and fixed-term deposits, with multiple terms and notice periods available. The easy access account pays a very healthy variable 4.20% AER and allows unlimited withdrawals (provided you take out at least £500 each time).

Notice periods are 45 or 100-day, with rates up to 4.51% AER. Fixed-term deposits are available for 1 and 2 years, with rates reaching 4.56% 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

Hampshire Trust Bank

Term TypeEasy AccessNotice (95-day)Fixed TermMinimum deposit£5,000£5,000£5,000Maximum deposit£750,000£750,000£750,000Interest ratesVariable gross AER 4.10%Variable gross AER 3.95%Fixed gross AER 4.16% to 4.55% depending on termEligibility criteriaMust be permanent UK resident aged 18 or overAvailable to UK businesses and organisations

Hampshire Trust Bank provides easy access, notice, and fixed-term accounts for UK businesses. The easy access account offers 4.10% AER with unlimited withdrawals, while the notice account (Hampshire currently offers only 95-days) provides 3.95% AER. Fixed-term deposits range from 1 to 3 years, with rates between 4.16% and 4.55% 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.

Eligibility:

18 or over

UK residents

UK business

Find out more

Allica

Term TypeEasy AccessMinimum deposit£1Maximum deposit£5mInterest ratesVariable gross 4.83% AER

Like Tide, Allica Bank offers just one easy access savings account, but it stands out for having one of the highest variable AERs (4.83%) on the market, as well as a sizable maximum deposit cap of £5m.

However, the account is exclusively available to businesses with an Allica Business Rewards Account, and the advertised rate can only be achieved if you achieve both 15 monthly bank transfers and either fully or partially switch accounts via CASS, each granting you an additional 0.5% interest boost (for a maximum of six months). Otherwise, you will be offered the standard variable 3.83% AER. The account is fully managed via Allica’s mobile app or online banking.

Eligibility:

UK based and registered with companies house

Must have an Allica Business Rewards Account

Find out more

United Trust Bank

Term TypeNotice (40, 100, 200-day)Fixed Term Business BondsMinimum deposit£5,000£5,000Maximum deposit£5m£5mInterest ratesVariable gross 4.10% AER to 4.76% AER depending on notice periodFixed gross 4.10% AER to 4.60% AER depending on bond term

United Trust Bank provides notice and fixed-term business bonds savings accounts, and is the only one of our providers not to offer an easy access account.

There are 40, 100, or 200-day notice period options, with interest rates up to 4.76% AER. Fixed-term business bonds offer 3-month to 5-year terms, with rates reaching 4.60% AER. Deposits range from £5,000 to £5m, 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:

18 or over

UK resident

UK business registered with Companies House

LTD company or sole trader

Find out more

Cynergy

Term TypeEasy AccessNoticeMinimum deposit£1£5,000Maximum deposit£10m£10mInterest ratesVariable 4.00% AER (gross 3.93% per annum)Variable 4.50% to 4.60% AER, 4.41% to 4.51% gross depending on notice period 

Cynergy offers easy access and notice savings accounts designed for businesses. The easy access account provides 4.00% AER with unlimited free withdrawals. Notice accounts come with 95, 120, or 180-day periods, offering interest rates up to 4.60% AER. The minimum deposit is £1 for easy access and £5,000 for notice accounts, with a very competitive maximum of £10m for both types of account. Interest is calculated daily and paid monthly. One unique feature of Cynergy is that you can grant up to 10 team members account access, allowing them to make deposits and withdrawals.

Eligibility:

18 or over

UI resident

UK business registered with Companies House

A sole trader, partnership, LLP or LTD company

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: 12 of the best digital banking platforms for small businesses