Our business savings accounts are a safe place to deposit surplus cash whilst earning interest. Depending on your business needs, we have an instant access account or 95 day notice and 35 day notice accounts. Our notice accounts offer higher interest rates than our instant access account.
There are no minimum or maximum balance restrictions for any of our business savings accounts.
Gross is the rate of interest payable before any tax is taken off.
AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest were paid and added to your account each year.
Variable interest means that it could go up or down.
A business day is usually Monday to Friday excluding bank holidays.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
These savings accounts are no longer open for new applications. For customers who still hold these accounts, please review the key information about the interest rates that are currently applied to them.
Please note that the following accounts are no longer available for new applications, but will continue to operate as normal.
1.62% Gross, 1.63% AER variable
Corporate Reserve
1.62% Gross, 1.63% AER variable
1.62% Gross, 1.63% AER variable
Please note: Rates correct as of 31 August 2023 - but are subject to variation unless otherwise stated.
Interest is calculated daily on the full cleared balance, and credited monthly.
Any reference to tax is based upon our understanding of current tax regulations which may change in the future and depends upon the customer’s individual financial circumstances.
The Bank reserves the right to decline or accept any application and/or deposit.
Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website.