Loading Profile...
High Interest Business Account
I currently keep all of my Corporation Tax owed in a separate account. It is quite a substantial amount of money but I don't think I am earning much interest in my standard business account. Are there high interest bank accounts available to businesses?
1
person has this question
I have this question, too!
Tell me when someone answers.
The more people who ask this question, the more it gets noticed.
The more people who ask this question, the more it gets noticed.
-
Inappropriate?Hi latemodern
A lot of banks offer business savings accounts which complement their current accounts, and these savings account generally have a higher rate of interest. Some banks also (e.g. Cater Allen) offer 'term' accounts which provide a higher rate of interest at the expense of instant access -- the higher the rate of interest, the longer the term (e.g. 30-day, 60-day, 1-year).
I would recommend shopping around on the internet and also taking a look at affiliate sites such as www.moneysavingexpert.com and www.moneysupermarket.com.
I hope this helps!
-
Inappropriate?Hi latemodern,
While you're doing this it may be an opportunity to keep less than £50K in each bank. -
Inappropriate?Thanks Guys,
I had a look at moneysupermarket.com and could only find stuff around 2 - 3.5%. I'm assuming this is because of recent and expected interest rate cuts. Bit of a shame really, I was expecting these accounts to offer as good as personal accounts or better.
Thanks anyway!
Chris -
Inappropriate?Hi Chris,
I had a quick Google for this and found several business deposit accounts offering ~5%:
http://www.moneyfacts.co.uk/business/...
Hope this helps!
EMPLOYEE
