The best easy-access business savings account pays 3.91% AER and the best one-year fix pays 4.31%, both FSCS-protected to £120,000 and both from Hampshire Trust Bank. Most business current accounts pay nothing on balances, so a £30,000 tax reserve left in the current account gives up about £1,170 a year of interest for no reason beyond inertia. Opening one of the accounts below does not touch your banking: they are standalone, funded from your existing account. The one catch this market hides is eligibility, because three of the six banks refuse sole traders entirely.
| Bank | Easy access | Best fixed | Min deposit | Sole traders |
|---|---|---|---|---|
| Hampshire Trust Bank | 3.91% AER | 4.31% 1-year | £5,000 | Not stated |
| Cynergy Bank | 3.90% AER | 4.15% 1-year | £10,000 | No |
| Tide Instant Saver | 3.75% AER intro | None | £1 | Yes |
| Aldermore | 2.45% AER | 4.25% 1-year | £1,000 | No |
| Redwood Bank | 3.55% 35-day notice | 4.25% 2-year | £10,000 | Yes |
| Allica Bank | 2.80% AER | 4.00% 1-year | £20,000 | No |
The highest easy-access and fixed rates of the six
Easy Access SME Saver Issue 13 at 3.91% AER. A 95 Day Notice SME Tracker Issue 2 pays 4.01% and tracks the Bank of England base rate, with a £20,000 minimum and no interest below it. 1 Year SME Fixed Saver Issue 68 and the 2-year Issue 57 both pay 4.31% AER; 6 months pays 4.19%.
See HTB savings ratesMonthly interest at very nearly the top easy-access rate, with headroom to £10 million
Business Saver at 3.90% AER (3.83% gross), interest paid monthly. Business Fixed Rate Bond: 4.15% AER for 1 year; the 2, 3 and 5 year terms all pay 4.10%.
See the Cynergy Business SaverThe only account here a sole trader can open with £1
3.75% AER on balances up to £1 million (4.00% from £1 million to £10 million) during a 4-month introductory period, then a plan-dependent rate advertised as up to 4% AER. Tide offers no fixed-term product; the Instant Saver is the whole range.
Open a Tide Instant SaverA strong 1-year fix with the lowest minimum deposit of the dedicated banks
Easy Access Business Savings Account Issue 14 at 2.45% AER, well off the pace of this table. 1 Year Fixed Rate at 4.25% AER; a 95 Day Notice account pays 4.00%.
See Aldermore savings ratesTakes sole traders and charities that the other dedicated banks turn away
No true easy-access product; the closest is a 35 Day Business Savings notice account at 3.55% AER, with a 95-day notice option at 3.85%. 2 Year Business Savings Bond at 4.25% AER; the 1-year bond pays 3.90%.
See Redwood savings ratesA full-service challenger where savings can sit beside lending and a rewards current account
Easy Access business savings at 2.80% AER variable. Allica's separate Business Rewards current account has a Savings Pot advertised at up to 4.08% AER, but the boosts need £50,000 on deposit or an Allica loan, plus activity conditions. 12-Month Fixed Rate at 4.00% AER; 180-day notice pays 3.70%, 95-day 3.65%.
See Allica savings ratesHalf the dedicated business savings market is closed to sole traders: Allica wants a Companies House registration, Aldermore takes limited companies only, and Cynergy accepts partnerships and companies but not individuals. If you trade as yourself, the practical shortlist is Tide's Instant Saver, which opens from £1 inside the app, Redwood's notice accounts and bonds if you can commit £10,000 and wait 35 days for withdrawals, and Monzo's business savings pot at up to 3.25% AER with instant access. Hampshire Trust Bank does not state a sole trader position on its pages, so ask before applying.
Interest-bearing business current accounts have almost disappeared. Starling closed its Business Fixed Saver to new customers, Monzo pays up to 3.25% AER but only inside a savings pot on a paid understanding of instant access, and Wise offers 3.22% variable through its Interest feature, which is a BlackRock money-market fund rather than a bank deposit and sits outside the usual FSCS deposit cover. Treat the current account as plumbing and the savings account as the shelf, and move the reserve deliberately.
Hampshire Trust Bank pays 3.91% AER on easy access and 4.31% AER fixed for one year, the highest of the dedicated business savings banks we track. Cynergy Bank's Business Saver is just behind on easy access at 3.90% with interest paid monthly. Rates move often, so check the date stamp on any comparison you read.
Yes, at every bank on this page. Eligible deposits are protected up to £120,000 per business per banking licence, the limit in force since 1 December 2025. Wise's Interest feature is the exception to watch: it is a money-market fund rather than a bank deposit, so different protection applies.
At fewer banks than a limited company can. Allica, Aldermore and Cynergy all exclude sole traders. The working options are Tide's Instant Saver from £1, Redwood Bank's notice accounts and bonds from £10,000, and Monzo's business savings pot at up to 3.25% AER.
No. Every dedicated account on this page is standalone: you keep your existing current account and move money through a nominated account. Cynergy requires the nominated account to be in the same business name, and Tide's saver needs a Tide account if you are a sole trader.
Yes. For a limited company, interest counts as income in the corporation tax computation. For a sole trader, it goes on your Self Assessment return. Banks pay business savings interest gross, so nothing is deducted at source and the liability lands with the business.
Figures checked 4 July 2026; confirm details with the provider before applying. We may earn a commission through links on this page.