Business Reserve account
Making your business cash work harder
A Business Reserve account lets you earn a higher rate of interest on your surplus business cash or organisation's funds. You can access these funds at any time without penalty.
A Business Reserve Account is an ideal short term home for your company tax funds, retained profit or even your organisation's excess cash.
Benefits of a Business Reserve Account
- Low minimum balance - open an account with just £1 and invest up to £2 million
- Instant access - no withdrawal penalties and same day transfers to and from your current account
- Quarterly interest - calculated daily and added to your account each quarter
- No fees - there are no charges on a Business Reserve Account
- Online banking - access account information and make transfers online
- Interest options - interest can be paid into your Business Reserve Account or Business Current account
Current savings rates
| Balance | Gross Rate % | AER % |
|---|---|---|
| £0+ | 0.05 | 0.05 |
Interest is calculated daily and applied quarterly.
Updated: 19th March 2009
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts, which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate. This means the interest rate you are paid before the deduction of income tax.
Get in touch
Jersey
01534 282828
Guernsey
01481 703800
Isle of Man
01624 697900
Gibraltar
00350 200 77737
Lines are open: Mon to Fri 9.00am-5.00pm
(excluding public holidays).
Calls may be recorded