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This comparison simply includes all savings accounts.

Hampshire Trust Bank
2 Year Business Fixed Rate Bond Hampshire Trust Bank
Min deposit £5000
Term 2 Years
Interest AER 1.30%

Why we like it: Interest paid annually. Maximum deposit £750,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. No withdrawals permitted

Hampshire Trust Bank
1 Year Business Fixed Rate Bond Hampshire Trust Bank
Min deposit £5000
Term 1 Year
Interest AER 1.21%

Why we like it: Interest paid annually. Maximum deposit £750,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. No withdrawals permitted

Shawbrook Bank
Business 2 Year Bond Shawbrook Bank
Min deposit £5000
Term 2 Years
Interest AER 1.10%

Why we like it: Deposit between £5,000 – £2,000,000. Interest paid monthly or annually. Interest rate fixed for 2 years. Apply online or by post. An interest rate of 0.05% AER is payable on balances below £5,000. Available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP). To open an account, you must be a UK based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK

Shawbrook Bank
Business 1 Year Bond Shawbrook Bank
Min deposit £5000
Term 1 Year
Interest AER 1.00%

Why we like it: Deposit between £5,000 – £2,000,000. Interest paid monthly or annually. Interest rate fixed for 1 year. Apply online or by post. An interest rate of 0.05% AER is payable on balances below £5,000. Available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP). To open an account, you must be a UK based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK

Aldermore
Business 12 Month Fixed Rate Aldermore
Min deposit £1000
Term 12 Months
Interest AER 1.00%

Why we like it: Deposit between £1,000  and £1,000,000. No fees or charges for day to day services. 14 Day cooling off period – if you change your mind within 14 days of funding your new business savings account, your savings will be refunded. Minimum balance at all times – £1,000. An interest rate of 0.05% AER is payable on balances below £1,000. No additional deposits or withdrawals

Hampshire Trust Bank
120 Day Business Notice Account Hampshire Trust Bank
Min deposit £5000
Term 120 Day Notice
Interest AER 0.85%

Why we like it: Interest paid annually. Maximum deposit £750,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. Withdrawals subject to 120 days notice

Investec Savings
Online Business Savings Account – 32 Day Notice Investec Savings
Min deposit £40000
Term 32 Day Notice
Interest AER 0.75%

Why we like it: Deposit between £40,000 and £800,000. Unlimited withdrawals with no hidden fees. Apply online in minutes. Manage account online. Eligible deposits protected under UK's Financial Services Compensation Scheme (FSCS). Business must have been registered for at least two years, have fewer than 250 employees, and have a total balance sheet of less than £36,550,000 or a turnover of less than £42,500,000. All associated persons (beneficial owners, people with significant control of business, directors, partners) must be residents in the UK, are UK taxpayers only, and are over 18 years old

Hampshire Trust Bank
95 Day Business Notice Account Hampshire Trust Bank
Min deposit £5000
Term 95 Day Notice
Interest AER 0.75%

Why we like it: Interest paid annually. Maximum deposit £750,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. Withdrawals subject to 120 days notice

Shawbrook Bank
Business 100 Day Notice Account Shawbrook Bank
Min deposit £5000
Term 100 Day Notice
Interest AER 0.75%

Why we like it: Deposit between £5,000 – £2,000,000. Interest paid monthly or annually. Must give 100 days notice to withdraw. Apply online or by post. An interest rate of 0.05% AER is payable on balances below £5,000. Available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP). To open an account, you must be a UK based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK

Aldermore
Business 6 Month Fixed Rate Aldermore
Min deposit £1000
Term 6 Months
Interest AER 0.6%

Why we like it: Deposit between £1,000  and £1,000,000. No fees or charges for day to day services. 14 Day cooling off period – if you change your mind within 14 days of funding your new business savings account, your savings will be refunded. Minimum balance at all times – £1,000. An interest rate of 0.05% AER is payable on balances below £1,000. No additional deposits or withdrawals

Shawbrook Bank
Business 45 Day Notice Account Shawbrook Bank
Min deposit £5000
Term 45 Day Notice
Interest AER 0.55%

Why we like it: Deposit between £5,000 – £2,000,000. Interest paid monthly or annually. Must give 45 days notice to withdraw. Apply online or by post. An interest rate of 0.05% AER is payable on balances below £5,000. Available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP). To open an account, you must be a UK based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK

Shawbrook Bank
Business Easy Access Account Shawbrook Bank
Min deposit £1000
Term Instant Access
Interest AER 0.5%

Why we like it: Deposit between £1,000 – £85,000. Interest paid monthly or annually. Unlimited withdrawals free of charge. Apply online or by post. Minimum withdrawal £500. An interest rate of 0.05% AER is payable on balances below £1,000. Available if you are a Sole Trader, Limited Company, Partnership or Limited Liability Partnership (LLP). To open an account, you must be a UK based business where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK

Fixed rate bonds for limited companies

If you are a limited company looking for a way to access some competitive interest, you may want to explore your fixed rate bond options.

Fixed rate bonds offer higher interest rates in exchange for tying up savings for a longer period of time. The majority of banks offer fixed rate bonds that run for 1 year2 years3 years or 5 years. Typically, the higher rates of interest are reserved for the longer fixed rate bonds.

If you take out a fixed rate bond, you should note that you will not be able to access your capital for the duration of the bond. Some fixed rate bond providers will allow you to close the bond early; however, this will typically result in a penalty. A penalty for closing a fixed rate bond early is often calculated by a number of days’ interest, which could reduce your capital significantly.

Criteria for limited companies fixed rate bonds

The fixed rate bonds available to limited companies are different to personal fixed rate bonds. Some banks may have different criteria for their limited company fixed rate bonds. For example, your limited company may have to achieve a certain annual turnover. You should always speak to the fixed rate bond provider to check their specific criteria.

Financial Services Compensation Scheme

Your limited company may benefit from the Financial Services Compensation Scheme (FSCS), which provides protection for the first £85,000 a fixed rate bond provider has held under a single UK banking licence.

In order to receive the FSCS protection your limited company must meet two of the following:

  • It has 50 or fewer employees
  • It has a turnover of £6.5 million or less
  • It has a balance sheet total of £3.26 million or less

Unfortunately, if your limited company does not meet two of the three points above then it will not be covered by the scheme.

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