Business savings rates

webdeepak

I know this site is for personal savings. But as a small business can someone suggest an business saving accounts for small business.

Thanks

PauliPauli

http://www.moneyfacts.co.uk/business/bestbuys/business-investment.aspx

Pauli

chedburgh

Hi Webdeepak

I use the Abbey's free business banking, and i use their business reserve account for savings, its fairly reasonable, no catches no frills, tiered interest - up to £10k 3.75% gross, £10k-£99k 4.75% gross... check their site for the rest.

Cheers
C

Snow_Dog

Alliance & Leicester offer a 5%+ over 50K account, they were offering a base+.14% which works out at 5.89% over 50K if you had a current account with them which offers free banking too. Not sure if that offer is still on though.

webdeepak

Pauli,
I did look at moneyfacts. But I was looking for instant reserve which is only A&L.

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Chedburgh
I do have the Abbey free business banking but after the Northern Rock debacle I want to divide my risks.

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Snow Dog
Below 50K its not very high and the interest rate is 5.68% over 50K+
https://www.alliance-leicestercommercialbank.co.uk/content/SB020002.asp

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Some of my R&D
1) Bradford Bingley International Isle of Man. If we can invest into it. Rate starts at 5.3% over 10K+
http://www.bbi.co.im/offshore-savings-accounts/business-offshore-savings-accounts/business-call/default.aspx

2) Standlife bank fixed deposit. 6.5% AER on bonds maturing on 02/10/2008.
http://uk.standardlifebank.com/content/savings/rates/sav_rates_index2.html


Thanks for all your responses
Search still on..

Regards
Deepak

jimatko

Web

Interest rates are not as high for businesses as they are for personal money. Full stop end of story.

If you get your cash to about £250k + then you should look towards offshore bonds. These can access personal rates even for companies but of course there is the cost of setting them up - typically 0.15% pa for £1m but you don't pay tax until encashment.

Of course holding too much money in a company can prejudice your Business Taper Relief and if u are gonna sell you don't want that