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Business Instant Access Savings Account

Keep your business’s hard-earned savings working for you. Instant access means that your money is always available whenever you need it.

Why choose the TSB Business Instant Access Savings Account?

Earn up to 1.50% gross/AER
For balances over £5,000

Open an account from just £1 and have interest calculated daily and paid monthly.

No penalties for withdrawals
No limits or fees

Take your money out whenever you need it with no fees or charges.

Applying online is easy
New or existing customers

You don’t need to be an existing TSB customer to apply. Apply within 30 minutes.

About this account

Easily compare our interest rates

  • 1.50% AER (Variable) on balances over £5,000
  • 1.35% AER (Variable) on balances of £1 to £4,999.99
  • You’ll earn interest on balances of £1 or more. Interest is calculated each day and paid monthly
Phone and calculator

Lots of ways to manage your account

  • Speak to one of our relationship managers over the phone
  • Manage your account online 24/7 with TSB Internet Banking or the TSB Business Mobile Banking App
  • And, of course, you can visit us in branch
Phone with cog

To apply

Existing customers will need:

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Your business details including your existing TSB business account

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Your business activity including how much you plan to deposit and fund origins

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Document upload - you may need to upload ‘proof of your partnership’, if applicable

New customers will need:

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Photo identification e.g. driving licence or passport

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Proof of your home address

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Proof of the business address, if it is not the same as your home address

New customers may also need:

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Your Tax Identification Number (TIN) for any countries of tax residency outside of the UK

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Personal details about other parties in your business

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Proof of the terms of your partnership agreement, if applicable

Important documents



How do I apply?

New to TSB business banking?

  • Apply online
  • Tell us a few details about your business



 

Already a TSB business customer?

  • Apply for a Business Instant Access Savings Account

  • Start saving on the same day

We use Adobe Sign for this kind of request. Adobe will pass the information you provide to us in a secure manner and won’t process it in any other way. Information on how we use your data can be found in our Data Privacy Notice.

Any questions?

Gross % (Variable) AER % (Variable) Gross % (Variable)
Balances of £5,000+ 1.50% 1.48%
Balances of £1 to £4,999.99 1.35% 1.34%
You’ll earn interest on balances of £1 or more. Interest is calculated each day and paid monthly.

Yes. We can move the interest rate up or down at any time. Our Terms and Conditions explain when we’ll do this.

If we increase the interest rate, we’ll make details of the rate change available in branch and on our website within 3 days of the change. If we decrease the interest rate, we’ll let you know personally and give you at least 2 months’ notice.

Based on a £1,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same

Current interest rate
Initial deposit £1,000.00
Interest earned at 1.34% Gross/1.35% AER £13.50
Estimated balance after 12 months £1,013.50
This is an example only and doesn’t take into account your individual circumstances.

Based on a £50,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same
Current Interest rate:
Initial deposit £50,000.00
Interest earned at 1.48% Gross/ 1.50% AER £750.00
Estimated balance after 12 months £50,750.00

Ways to open
  • Online
Who can open You must be:
  • 18 or over; and
  • A UK resident
Open with
  • £1 minimum opening balance
Manage your account
  • In branch
  • Over the phone
  • Online

Withdrawals allowed

Yes, instant access. Transaction and daily limits apply

Notice period None  
Withdrawal charges No withdrawal penalties apply
How to withdraw

Transfer

Faster Payment

CHAPS
(Service charges may apply, please see Your Account Charges Explained document for more information.)

  • Accounts can only be opened in the business name
  • Interest is paid gross (without taking off tax)
  • If you earn more interest than the Personal Savings Allowance, you may have to pay extra tax yourself
  • The Personal Savings Allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Additional rate taxpayers don’t receive a Personal Savings Allowance
  • AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time
  • Gross rate means that credit interest is paid without income tax being deducted
  • UK-based businesses only

Rates and information correct at 01/08/2023

Financial Services Compensation Scheme

Your savings are protected under the Financial Services Compensation Scheme. The scheme protects up to £85,000 (or £85,000 each for joint account holders - £170,000 altogether) of the deposits in your TSB savings and current accounts.

Protecting your money - FSCS

Important Information

18+ & UK based business

AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time