10 Best Business Savings Accounts for UK

As a Best Business Savings Accounts for UK, including interest rates, deposit limits, account access, etc., might be difficult to maneuver.

However, selecting the appropriate business savings account helps safeguard your money, all while growing it substantially.

UK migrant entrepreneurs seeking a balance of accessibility, safety, and attractive returns have a growing range of tailored solutions, from app-based fintechs like Revolut Business and Monzo to traditional banks like HSBC, Barclays, and Santander.

Key Point

1. Revolut Business

Revolut Business is a savings app with a 3.51\% AER (variable) interest. [Revolut] It tracks interest daily with no minimum deposits, so it is best for new *startups* or eu businesses with irregular cashflows. Based on business accounts (Grow, Scale, Enterprise), the maximum holding limits are between 500,000 – 2 million.

Revolut Very liquid *startups* with multiple expenses, cashflows, or inter value added resoure transfers will find this account *optimal* for business savings. Grow is best for business. Funds can be added or withdrawn at any time.

Revolut Business savings offers:

• Earn interest daily: Interest can grow to 3.51% AER (variable) and will be compounded every day.
• No minimum deposit required: This is very helpful for new businesses and businesses with varying cash flow.
• Limit on the balance you can have. This is determined by your plan: Grow (£500k), Scale (£1  M), Enterprise (£2  M).
• No withdrawal restrictions: You can add or withdraw whatever you want and whenever you want with no withdrawal restrictions.
• Facial recognition for withdraws with the “Wealth Protection” optional feature. This is secure.
• Use your accounting package to update cash flow. You can automate cash movements savings to sync with your accounting software.
• Limited company protection: FSCS coverage for £85k.

2. Aldermore

Aldermore offers a business savings account which is meant to park cash for as long as possible with Aldermore. They are at a competitive rate of up to 4.51% AER (Variable). They require a minimum of £1,000 to open.

However, they allow deposits up to £10 million, which is useful for large cash balances. Since they are fully online, they are ideal for non-UK-resident founders to manage online. They are also FSCS-protected up to £85,000. Aldermore offers protection for business funds (Aldermore Bank).

Aldermore savings features:

• Online control: Total control and savings management can be done on your app or online. ([Aldermore Bank][3])
• Offer fixed or flexible savings rates: These can be achieved by using their competitive rates.
• Limited company protection: FSCS coverage is £85k per company.
• Easy to change savings. No fees to add or withdraw to your savings.
• Non-complex companies can apply online. Quick applications as they are for non-limited/unlimited businesses.
• No extra or unexpected fees or charges. You can be very aware of the T&C.

3. HSBC

HSBC offers business savings as well (eg. Business Money Manager, etc.). It’s a large global bank, so there’s some peace of mind from their strong stature in the market. However, they are a variable AER which does mean the rate is not fixed.

It’s £1,000 to open the account and from your data, the rate is quoted as up to 2.02%, which is fairly average in the market right now. However, there is no cap to how much you can save in the bank which offers a lot of flexibility.

They also provide a mobile app and online banking which is ideal for people since they are a large profit maker and people are often concerned with their history.

HSBC Features

Instant-access via Business Money Manager: you can deposit surplus capital instantly with daily interest, withdrawals into your business checking account are free.

Tiered interest structure: interest rates are based on the amount you have saved, with larger amounts warranting an increase in interest rate.

Daily calculation, monthly/quarterly payout: you can keep better control of your finances with interest counted daily but only received on a monthly or quarterly basis.

App-based for Kinetic: easy to manage and open savings accounts with the Kinetic app.

No monthly fees: savings accounts do not have any monthly fees.

Flexible fixed-term options: you can deposit fixed-term accounts with a minimum of 7 days to a maximum of 5 years if you don’t need to use the funds.

Strong regulation and safety: there are very few safety concerns as HSBC is a reputable bank in the UK and there is a high level of regulatory trust.

4. Barclays

Barclays’ business premium account has an interest of 1.96% AER (variable) offers very high capacity, since you can deposit as much as £50 million. There’s no minimum deposit, so you can start with whatever surplus you want.

Access is fully digital. However, you can also visit one of Barclays’ many branches. If you are a migrant with quite a bit of business cash, Barclays might be a very reliable, albeit conservative, place to keep business cash.

Barclays

• Robust business banking network: Apart from savings, Barclays, as one of the largest British high street banks, also gives loans, current accounts, and business services.
• FDIC insurance: Eligible deposits are insured up to £85,000. ([NerdWallet][9])
• Different ways to access banking: You can manage your savings on the internet, banking app, telephone, or in person.
• Packaged business services: Free access to the FreshBooks accounting software for invoicing and bookkeeping.
• Promotional offers: For new business clients, they frequently offer promotional programs like zero fees for your first year.
• Business support and community: Excellent business assistance, and mentorship through Barclays’ “Eagle Labs” designed for companies focusing on expansion.

5. Nationwide

Nationwide has business savings with interest rates of up to 3.35% AER. According to your data, the minimum deposit is £5,000. You can also hold up to £10 million. This makes it a good fit for growing businesses that are anticipating to scale up.

Access is also via app and online. Since Nationwide is also a mutual building society, they may also offer a bit more personalization when it comes to customer service, which might also be real reassurance for migrants, while also looking for a good rate.—

Nationwide

• Trustworthiness and stability: Nationwide, as a mutual building society, has the reputation and business model allowing it to offer more customer values and services.
• Access to a variety of savings accounts: Depending on the specific product, they should have a mixture of notice and instant access accounts, which is ideal for savings planning.
• Digital access: Savings can be managed through web or app — a standard feature for modern savings accounts.
• Excellent savings protection: Your savings are likely insured by FSCS, and up to £85,000, although you should check the terms for the account.
• High Scalability: They hold significant balances (as seen in your earlier max deposit data) which makes them fit for an expanding business.
• Reputation: Nationwide is one of the most prestiguous banking institutions which is important for migrants looking for a stable and reputable UK banking relationship.

6. Monzo

Monzo offers a highly streamlined app that allows you to create “pots” that function as individual savings accounts. You can set and change the interest rate at which the pots gain interest. You can earn up to 1.60% AER (variable) across all pots.

You can self-determine all pots to have a minimum of £1 so it works great for very early-stage businesses that don’t yet have a lot of cash. You can use up to £100,000 between pots which limits it to short-to-medium term savings, rather than locking larger amounts up for a long time.

You can get all your cash easily from the app, which will appeal to migrant entrepreneurs who want to manage all their savings from their phone.

Monzo

• Mobile Banking: All banking (receiving, payments, and budgeting) is done on Monzo’s payment app which is user-friendly for on the go banking.
• Pots for Savings: Easily set apart surplus funds in a ‘pot’.
• No Minimum: A great option for very small or early stage businesses because no minimum is required.
• Accessible and Moderately Tiered: There is a cap (as indicated by your data) which encourages a more active approach at using the funds rather than a continuously dormant savings account.
• Variable and Predictable Rates: Suitable for funds you may need to access at short notice; the rate is predictable.
• Monzo’s app gives instantaneous notifications for every transaction: Easily monitor the savings account for incoming and outgoing transactions.

7. Metro Bank

Metro also offers simple savings accounts for businesses, although the rate is less than the other banks at 1.20% AER. There are absolutely no minimum sizes for deposits or maximum sizes for balances so you can throw as much spare cash around as you want.

Account access with all banks is easy with banking apps and with this bank you also get physical locations which can be important for businesses that need to talk to someone in person.

There aren’t a lot of savings accounts like these at banks which makes it very useful and more practical for a lot of migrants.

Metro Bank

• No deposit cap: As per your data, there is no max deposit limit making it ideal for very large reserves.
• No minimum deposits required: You can start saving whatever surplus you have, makes it very easy to go.
• High street + digital: Metro provides an app and websites, as well as physical branches, which can be helpful for business purposes.
• Regulated bank: As a UK bank, Metro can be trusted as a financial institution and offers the associated regulatory protection.
• Simplicity: They offer a single savings account instead of adding the complexity of a fixed term or a tiered product.
• Flexibility for businesses: It provides a good solution for businesses that want a flexible “park” for their cash without it being locked in or having to give a complicated notice.

8. Santander

Santander has a business savings account where the entry is very easy with a minimum deposit of just £1 — best for businesses who are just beginning to save.

The rate (variable) is around 1.05% AER, which is even lower than some fintech providers, but the account has no maximum deposit.

You can manage it online or through the Santander app. For migrants, this is a reputable high‑street banking option with minimal barriers to entry.

Santander

• Very low minimum deposit: From your data, it appears to be just £1, which makes it highly accessible.
• No deposit cap: This enables businesses to scale their savings without being bound by a maximum limit (as per your previous information).
• Digital access: It is managed through an app and online, which is excellent for business owners who require this convenience.
• Reputable high-street bank: This offers all the security and credibility of a leading UK bank.
• Simple savings model: It’s suitable for just parking spare funds, as opposed to being a more complicated investment.
• Liquidity: It is likely to offer comparatively liquid access (subject to the particular business-savings product), which matches adernate business requirements.

9. Bank of Ireland UK

According to data, the UK branch of the Bank of Ireland provides business savings accounts with a variable rate of up to 1.70% AER.

The minimum deposit is just £1, so it’s very easy to get started, and there is no maximum deposit, which allows for room to store large business reserves.

For migrants in the UK, this is a good cross-border friendly option (especially if they have Irish operations or other connections) for a combination of ease, minimal entry requirement, and reasonable interest.

Bank of Ireland UK

• Minimal entry barrier: It’s great that there is a very low minimum deposit (as low as 1£ per your previous data) as this makes it accessible to more people.
• No stated maximum: This lets you hold a big sum without having a fictitious cap.
• Competitive variable rate: Considering your data, there AER is fine for flexibility.
• Online management: Probably through a business-friendly digital banking.
• Cross-border strength: This bank might be particularly relevant for UK migrants with connections to Ireland (or do business in in both countries).
• Deposit protection: As a regulated bank in the UK / Ireland context, there is probably some scheme protection — verify which account is under FSCS or the like to be sure.

Conclusion

The ideal business savings account for UK migrants offers the right interest rates, accessibility, deposit limits, and regulatory protection. Fintechs such as Revolut Business provide high variable interest rates and flexibility via an app.

This is perfect for the more tech-savvy entrepreneurs. Traditional banks such as HSBC, Barclays, and Santander offer stability and unlimited deposit capacity. They also have protection via the FSCS which is ideal for peace of mind when holding larger balances.

Aldermore and Nationwide have good rates and strong digital access. Monzo and Metro Bank have good access as well and are good app-first banks. Ultimately, the migrants are best of ease of account opening, deposit security, and digital ease of use when trying to grow a business in the UK.

FAQ