A business savings account is designed specifically for businesses to save money whilst earning interest.  

There’s a range of accounts to suit business needs, including easy access (sometimes known as instant access), notice and fixed term accounts. Each offers a different level of flexibility, interest rate and access.  

No – we don’t apply fees or charges on our standard business savings accounts.  

Some more specialist accounts, such as a limited access account, may incur charges which will be detailed in the account’s Summary Box. 

Eligible deposits for businesses are protected by the FSCS.  

If you’re unsure if your organisation is protected, you can read more information on our FSCS page. 

Our business savings accounts have a minimum balance of between £5,000 and £20,000 – the specific amount will be made clear when you open the account and in the Summary Box.  

You may invest up to £750,000 in a single account and up to £1,000,000 in total with us. Some accounts may allow higher balances, and this will be detailed in the Summary Box. 

Interest earned on a business savings account is taxable. You’ll need to report it on your business’s tax returns. We’ll upload a statement with the interest earned for the previous tax year to our online portal, which you can include in your tax filing. Get in touch if you need this another way. 

An issue number indicates the version of the specific account you’ve chosen to open with us. We continuously update our offering in line with the market, so each new version receives its own issue number to track the rate and terms clearly.  

Our business savings accounts are designed for UK-based organisations with under 250 employees: 

• Sole traders – trading in the UK 
• Limited companies/PLCs/LLPs – incorporated in the UK 
• Partnerships 
• Charities – registered in the UK 
• Clubs and associations 
• Small local authorities/PCCs/councils 
• Schools 
• Religious organisations 
• Small financial institutions 
• Credit unions. 

 We also have a specialist deposits service for credit unions (and community banks), pension administrators (SIPP & SSAS) and larger firms over 250 employees. 

It’s quick and easy and can be completed entirely online in around 10 minutes. 

We aim to open your account straight away, but if we can’t, we’ll usually let you know what else we need within two business days of receiving your application. We’ll write to you confirming your new account details and any more information we need. 

If you already hold an online account, simply login and select ‘apply online’. Select the account you need and then apply.

If you’ve always managed your account with us in a different way, for example by phone, you can keep doing this – please call us during business hours. 

As a responsible bank we need to be confident in knowing who our customers are. We check your address and identity of owners and signatories using various electronic databases, as well as the registration and status of your firm. 

If we’re unable to verify you in this way, we’ll get in touch and may ask you for some documents to help us complete our checks.  

Read what verification documents we may ask for.  

You can send clear photos or photocopies of these to us by email to [email protected]. Please don’t send us originals. You’ll need to send these within 14 days of applying for your account, otherwise we’ll cancel the application. 

When you apply, we’ll ask you to give us a ‘nominated account’ – a current account your organisation has with a UK bank – which you’ll use for all payments to and from your HTB account. 

We’ll check the nominated account details you give us and occasionally we may need you to provide evidence that you are the account holder. 

All payments you make into your savings account must be made from your nominated account. 

If we receive an electronic payment from a different account, we’ll return it to that account. If we receive a cheque from a different account, we’ll return it to you uncashed. 

We’ll make all withdrawals by electronic payment into your nominated account. 

Yes – you can cancel any account with us within the first 14 days after the opening date on your account opening confirmation letter. You can also cancel your account by sending us a secure message when logged in or call us on 020 7862 6220 during business hours. 

If you’ve already paid money into your account, we’ll return this to you, along with any interest you’ve earned, when you tell us you would like to cancel it. 

Some accounts have restrictions after 14 days. For example, you’ll need to give the required notice period for Notice accounts, and Fixed rate accounts cannot be accessed until the end of the term. Refer to the account’s Summary Box for the details of your account. 

It’s important that you understand what these terms are before opening the account, which you’ll be able to view during the application process. 

Interest is calculated daily once the account’s minimum balance is reached – check the account’s Summary Box for the minimum balance. It’s paid on the anniversary of the date we received your first deposit, and then annually after this – or at the end of the term if that’s sooner. 

If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day. 

If you send us money electronically, such as by Faster Payments, BACS or CHAPS, you’ll start to earn interest on the day we receive it provided this is before 1pm. If we receive it after 1pm you’ll start to earn interest from the next working day. 

If you send us money by cheque, you’ll start to earn interest on the second working day after we receive it. 

Yes, eligible deposits with HTB are protected by the UK’s deposit protection scheme, the FSCS. Find out if your organisation is eligible here.  

Your eligible protection limit applies across all accounts you have with us, including those opened by third parties who help manage your money for you, such as savings marketplaces, cash platforms or wealth management services (referred to as deposit aggregators).   

If a deposits aggregator deposited your money with us, any eligible deposits for your organisation are added to those held by us directly or through other aggregators and your FSCS protection with us will apply to this total, not individually to each entity.  In the event we’re unable to service your account, the FSCS will check and pay these claims as soon as possible, and always within three months. 

For any further information please visit the FAQs section at the top of the FSCS page.