Business Savings product simplification and instant access rate change

We’re making changes to some of our business savings accounts to simplify the number of off sale accounts we have. These changes will come into effect from 21 July 2023.

All the new accounts will have a minimum balance to earn interest of £5,000. If your minimum balance to earn interest was £10,000, from 21 July 2023 it will be £5,000.

The interest rate on the Business Instant Saver Issue 11 will be increasing to 1.50% (annual), 1.46%/1.45% AER/gross p.a. (monthly).

Please see below to find out what your new account will be.

Business Customer Interest Rates and account issues from 21 July 2023
Account Type Old Issue
Number		 New Issue
Number		 Annual
AER		 Annual
Gross p.a.		 Monthly
AER		 Monthly
gross p.a.
Business Instant Saver
1-8
 9
1.50%
1.50%
1.46%
1.45%
LA Instant Saver
1-3
4
1.50%
1.50%
1.46%
1.45%
Business 35 Day Saver
1
2
2.75%
2.75%
2.73%
2.70%
Business 45 Day Saver
1
2
2.80%
2.80%
2.79%
2.75%
LA 45 Day Saver
1
2
2.80%
2.80%
2.79%
2.75%
Business 95 Day Saver 
1-10
 11
2.85%
2.85%
2.84%
2.80%
LA 95 Day Saver
1-2
3
2.85%
2.85%
2.84%
2.80%
Business 125 Day Saver 
1-3
 4
2.95%
2.95%
2.94%
2.90%

You can find your account type or issue number for your account on your latest statement. You'll also receive a letter detailing the changes to your account with a copy of your new terms and conditions and summary box.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and also added to the previously earned interest once each year.