Business Savings Account

A great rate and instant access to your business savings. Now that’s smart.

Earn one of the best rates on the high street^ and access your money for whatever you need, whenever you need it, with our Business Instant Access savings account.

^Compared with the RBS Business Reserve account, HSBC Business Money Manager account, Barclays Business Premium account, Lloyds Business Banking Instant Access account and Santander Business Everyday Saver account.

Why take out a business savings account with TSB?

  • One of the best rates on the high street - with a balance of £5,000 or more
  • Bank online 24/7 with our Internet Banking website
  • Open or manage your account online or in branch
  • Have a question? Speak directly to one of our relationship managers over the phone
  • Covered by the Financial Services Compensation Scheme (FSCS)

Don’t currently bank with TSB?

To take advantage of the great rate on our Business Instant Access account, you need to open a Business Current Account.

 

Find out more

Already a TSB customer?

If you already have a Business Current Account with us it’s easy to open an Instant Access Savings account over the phone.

To open a Business Instant Access Account, please call 0345 835 3858. Lines open 8am to 6pm Mon – Fri, 9am – 2pm Saturdays.

  AER % (Variable) Gross % (Variable) From 1st July AER % (Variable) From 1st July Gross % (Variable)
Balances of £5,000+ 1.00% 1.00% 0.50% 0.50%
Balances of £1 to £4,999.99 0.15% 0.15% 0.05% 0.05%
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 0.15% Gross/AER £1.50
Estimated balance after 12 months £1,001.50
From 1st July
Initial deposit £1,000.00
Interest earned at 0.05% Gross/AER £0.50
Estimated balance after 12 months £1,000.50
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 1.00% Gross/AER £500.00
Estimated balance after 12 months £50,500.00
From 1st July
Initial deposit £50,000.00
Interest earned at 0.50% Gross/AER £250.00
Estimated balance after 12 months £50,250.00
This is an example only and doesn’t take into account your individual circumstances.

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

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 15/04/2020

Financial Services Compensation Scheme

FSCS ProtectedWe're covered by the Financial Services Compensation Scheme (FSCS). This means that any money you hold in a TSB account is protected up to a limit of £85,000.

Find out more

Client Accounts

We aren’t opening additional Clients’ Call or Designated Client accounts at this time. If you have an existing account and require any support please contact us on 0345 835 3858. Lines are open 8am to 6pm Monday to Friday and 9am to 2pm on Saturday

*Gross rate is the contractual rate of interest payable before income tax is taken off. AER stands for Annual Equivalent Rate, which shows what the interest rate would be if interest was paid and compounded once each year. Offer available for new and existing Business Current Account customers.
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