Business savings accounts
What are business savings accounts?
Savings accounts offer start-ups and SME businesses a safe place to deposit surplus cash whilst earning interest. Depending on your business needs, you may choose to open an instant access business savings account for immediate access to your cash, or a business notice account in return for a higher interest rate.
Our commitment to co-operative values has underpinned the way we operate and the decisions we make since 1872. Supporting our communities is at the heart of what we do, and it drives us to encourage social and economic change through our charity partnerships. We invite our customers to work with us in creating impactful change for everyone in our community.
95 Day Notice
A business savings account ideal for
Customers who want our highest interest rate and can give 95 days' notice before taking money out.
35 Day Notice
A business savings account ideal for
Customers who want a shorter notice period and can give 35 days' notice before taking money out.
Instant Access
A business savings account ideal for
Customers who want a straightforward savings account with instant access.
The following savings account products are no longer available for new applications.
Interest rates for all other accounts
Please note that the following accounts are no longer available for new applications, but will continue to operate as normal.
Corporate Treasury Account
1.62% *Gross / 1.63% **AER variable
Corporate Reserve
1.62% *Gross / 1.63% **AER variable
Public Sector Reserve
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.
*Gross : The gross rate of interest is the interest rate payable before any income tax is deducted.
**AER : stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
*Gross The gross rate of interest is the interest rate payable before any income tax is deducted.
**AER : stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
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).
Financial Services Compensation Scheme
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.