As a small business owner, it is important to always be thinking about the future and finding ways to secure your business’s financial stability. One way to do this is by depositing your business revenue into a dedicated business savings account. This not only helps to keep your funds organized and separate from personal finances, but it also allows you to earn interest on your money. In this article, we will discuss the top 8 business savings accounts in the UK that can help you grow your business and achieve your financial goals.
1. Santander Business Savings Account
Santander offers a business savings account with a competitive interest rate of up to 0.50% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. Additionally, you can manage your account online or through their mobile app, making it convenient for busy business owners.
2. HSBC Business Savings Account
HSBC offers a business savings account with a variable interest rate of up to 0.25% AER. This account also allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. HSBC also offers a range of other business banking services, making it a convenient option for small business owners.
3. Lloyds Bank Business Savings Account
Lloyds Bank offers a business savings account with a variable interest rate of up to 0.25% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. Lloyds Bank also offers a range of other business banking services, including business loans and credit cards, making it a one-stop-shop for small business owners.
4. Barclays Business Savings Account
Barclays offers a business savings account with a variable interest rate of up to 0.20% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. Barclays also offers a range of other business banking services, including business loans and credit cards, making it a great option for small business owners looking for a comprehensive banking solution.
5. NatWest Business Savings Account
NatWest offers a business savings account with a variable interest rate of up to 0.20% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. NatWest also offers a range of other business banking services, including business loans and credit cards, making it a convenient option for small business owners.
6. Metro Bank Business Savings Account
Metro Bank offers a business savings account with a variable interest rate of up to 0.20% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. Metro Bank also offers a range of other business banking services, including business loans and credit cards, making it a great option for small business owners.
7. Nationwide Business Savings Account
Nationwide offers a business savings account with a variable interest rate of up to 0.15% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. Nationwide also offers a range of other business banking services, including business loans and credit cards, making it a convenient option for small business owners.
8. TSB Business Savings Account
TSB offers a business savings account with a variable interest rate of up to 0.10% AER. This account allows you to deposit up to £2 million and offers easy access to your funds with no penalties for withdrawals. TSB also offers a range of other business banking services, including business loans and credit cards, making it a great option for small business owners.
In conclusion, depositing your business revenue into a dedicated business savings account is a smart move for any small business owner. Not only does it help to keep your funds organized and separate from personal finances, but it also allows you to earn interest on your money. With the top 8 business savings accounts in the UK listed above, you can choose the one that best suits your business needs and start growing your savings today. Remember, a financially stable business is a successful business.
