Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Interest rate tracks at a fixed margin above Bank of England Base Rate. 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. Unlimited withdrawals permitted subject to 95 days notice. FSCS Protected
Details
Interest Paid
Annually
Maximum Balance
£750,000
UK Company
Yes
1 Year Business Fixed Rate Bond
Interest AER4.10%
Min deposit£5000
Term1 Year
1 Year Business Fixed Rate BondHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
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. FSCS Protected
Earn up to 4.08% AER (variable)* on your savings. *Rate includes standard rate of 3.08% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a successful switch with the CASS. Eligibility criteria and T&Cs apply. No monthly fees. Instant access – deposit or withdraw funds 24/7. Eligible customers are protected by FSCS up to £85,000. Businesses keeping less than £50,000 in their account will earn a reduced rate of interest and may incur fees
Details
Interest Paid
Monthly
Maximum Balance
£5,000,000
UK Company
Yes
2 Year Business Fixed Rate Bond
Interest AER4.00%
Min deposit£5000
Term2 Years
2 Year Business Fixed Rate BondHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
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. FSCS Protected
Details
Interest Paid
Annually
Maximum Balance
£750,000
UK Company
Yes
5 Year Business Fixed Rate Bond
Interest AER4.00%
Min deposit£5000
Term5 Years
5 Year Business Fixed Rate BondHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
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. FSCS Protected
You must open a Tide Business Account to open a Tide Instant Saver Account. No limits or fees on withdrawals. Eligible deposits with ClearBank are protected up to a total of £85,000 by the FSCS
Details
Interest Paid
Monthly
Maximum Balance
Unlimited
UK Company
Yes
95 Day Business Notice Account
Interest AER3.95%
Min deposit£5000
Term95 Day Notice
95 Day Business Notice AccountHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
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. Unlimited withdrawals permitted subject to 95 days notice. FSCS Protected
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
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. Unlimited withdrawals permitted. FSCS Protected
Interest paid on account balances over £20,000. No interest paid if balance is below. Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Tracks Bank of England Base Rate (60 bps under). . 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. Unlimited withdrawals permitted. FSCS Protected
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 year, 2 years, 3 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.
