Business Instant Access Account

Our Business Instant Access Account is ideal for making the most of your day-to-day surplus cash, while providing instant access to funds.


Reasons to choose our Business Instant Access Account

  • Tiered interest is calculated daily and paid monthly. 

  • Instant access to your savings. 

  • Open an account with £1, save up to £5 million. 


Interest rate

  AER % (Variable) Gross % (Variable)
Balances of £5,000+ 1.00%  1.00% 
£1 to £4,999.99 0.15%  0.15% 
 
Correct as at 2 November 2018. 
 
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate is the contractual rate of interest payable before the deduction of income tax.
 
Interest rates may vary from time to time.

Summary box

Account name Business Instant Access
What is the interest rate? Interest rate on balances from £1 up to and including £4,999.99 0.15% Gross/AER (Variable) 
Interest rate on balances of £5,000 and over 1.00% Gross/AER (Variable)
You’ll earn interest on balances of £1 or more. Interest is calculated each day and paid monthly.
Can TSB change the interest rate?

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.

What would the estimated balance be after 12 months based on a £1,000 deposit?

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

Initial deposit £1,000.00
Interest earned at 0.15% Gross/AER £1.50
Estimated balance after 12 months £1,001.50
This is an example only and doesn’t take into account your individual circumstances.
What would the estimated balance be after 12 months, based on a £6,000 deposit?

Based on a £6,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same:

Initial deposit £6,000.00
Interest earned at 1.00% Gross/AER £60.00
Estimated balance after 12 months £6,060.00
This is an example only and doesn’t take into account your individual circumstances.
How do I open and manage my account? Ways to open
  • Over the phone
  • In Branch
  • 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
Can I withdraw money? Withdrawals allowed

Yes, instant access

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.)

Additional 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.
Rates and information correct at 13/02/2019

Useful documents

Please find key documents and further information on our legal page.

Financial Services Compensation Scheme

FSCS

Visit fscs.org.uk to find out more.