We understand business
savings accounts
Accounts for limited companies, sole traders, education providers,
clubs, societies, trusts, credit unions and pension funds. If you have in
excess of £1,000,000 to deposit please click here
Take a look at some of our best business savings account rates.
Fixed Term Business Bonds
Business 3 Month Bond – 4.45% Gross / 4.52% AER
Summary Box
Business 3 Month Bond – 4.45% Gross / 4.52% AER
What is the interest rate?:
4.45% Gross / 4.52% AER*
The interest is calculated daily using the cleared balance of the account and paid on maturity.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 3 months based on a £5,000 deposit?
£5,054.72.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 6 Month Bond – 4.45% Gross / 4.50% AER
Summary Box
Business 6 Month Bond – 4.45% Gross / 4.50% AER
What is the interest rate?:
4.45% Gross / 4.50% AER*
The interest is calculated daily using the cleared balance of the account and paid on maturity.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 6 months based on a £5,000 deposit?
£5,110.04.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 1 Year Bond – 4.65% Gross/AER
Summary Box
Business 1 Year Bond – 4.65% Gross/AER
What is the interest rate?:
4.65% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid on maturity.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 12 months based on a £5,000 deposit?
£5,232.50.
The projection provided is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 15 Month Bond – 4.65% Gross/AER
Summary Box
Business 15 Month Bond – 4.65% Gross/AER
What is the interest rate?:
4.65% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to your nominated bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 15 months based on a £5,000 deposit?
£5,292.30.
The projection provided is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 18 Month Bond – 4.45% Gross/AER
Summary Box
Business 18 Month Bond – 4.45% Gross/AER
What is the interest rate?:
4.45% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to your nominated bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 18 months based on a £5,000 deposit?
£5,337.44.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 2 Year Bond – 4.30% Gross/AER
Summary Box
Business 2 Year Bond – 4.30% Gross/AER
What is the interest rate?:
4.30% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to you nominated bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 2 years based on a £5,000 deposit?
£5,439.25.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 3 Year Bond – 4.10% Gross/AER
Summary Box
Business 3 Year Bond – 4.10% Gross/AER
What is the interest rate?:
4.10% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to you nominated bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 3 years based on a £5,000 deposit?
£5,640.56.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
Business 5 Year Bond – 4.10% Gross/AER
Summary Box
Business 5 Year Bond – 4.10% Gross/AER
What is the interest rate?:
4.10% Gross/AER*
The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to you nominated bank account.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.
What would the estimated balance be after 5 years based on a £5,000 deposit?
£6,112.57.
The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.
How do I open and manage my account?
To open an account:
– Your business must be either a Limited company, Sole trader, Education provider, Club, Society, Trust, Credit union or Pension fund.
– You can open our Business accounts by either post, via an application form, or online via our website, www.utbank.co.uk.
– The minimum balance is £5,000.00 per account.
– The maximum balance is £5m per account.
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the business.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.
To manage the account:
– You can communicate and manage your account via email, post or telephone.
Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.
We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.
If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.
Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.
Need some help with our Business accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.
Please take time to read and understand our Terms and Conditions before applying for any of our accounts.
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FAQs
Find answers to the most common questions about our deposit accounts
UTB Business Savings Accounts – Frequently Asked Questions
What are business savings accounts?
They are accounts businesses can use to earn interest on money they don’t need to keep in a current account for day-to-day expenses. Most business current accounts do not pay interest on positive balances, so if you keep surplus cash in your business current account you are probably missing out on a simple way of making your money work harder and earning your business extra revenue.
What is the difference between a savings account and a current account?
A business savings account is very simple in that it allows you to set aside excess money in your business to keep it separate from the account you use for everyday income and expenditure and to earn interest on surplus money which would otherwise earn little or no interest in your current account. A business savings account doesn’t usually come with a payment card, cheque book, overdraft or other facilities a current account may offer.
Are there different types of business savings accounts?
There are three common types of savings account:
Fixed term bonds – These allow you to set aside a one-off sum for a specified length of time and earn an agreed rate of interest during that period. However, with most fixed term bonds, you cannot withdraw your money during the term of the bond, so you should only deposit funds you won’t need to access during that time.
Notice accounts – These allow you to deposit funds whenever you wish and to earn an agreed variable rate of interest on your balance. However, you can only make withdrawals after giving the required notice. For example, with a 40-Day Notice Account you would have to request a withdrawal 40 days before you needed to have the money. These accounts offer more flexibility than fixed term bonds and usually pay a slightly lower interest rate as a result.
Instant access accounts – These offer the greatest flexibility as you can withdraw your money at any time. However, these typically pay the lowest rates of interest of the three main types of business savings accounts. United Trust Bank don’t currently offer instant access accounts.
How do I apply for an account?
Once you have decided which account you would like to open, simply click on the ‘Apply’ button in the summary box window for that account and then apply online or by post, depending on your type of business.
If you are applying by post, please send your completed application form to Deposits, United Trust Bank, One Ropemaker Street, London, EC2Y 9AW.
What are the types of savings accounts I can open with United Trust Bank?
We offer three types of savings accounts: Fixed Term Bonds, Notice Accounts, and a Notice Tracker Account, which tracks the Bank of England Base Rate.
What types of businesses can apply for a savings account?
We accept applications from limited companies, self-invested pension plans (SIPPs) and small self-administered schemes (SSASs), discretionary and personal injury trusts, clubs and societies, sole traders, and credit unions. Find out more here.
Are business savings protected by the FSCS?
Yes, all business savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. To find out more, please click here.
Can I open a business savings account if I or a director/shareholder lives outside of the UK?
At the time of making your application, all signatories and shareholders must be individuals who permanently reside in the UK for tax purposes, and we reserve the right to decline an application if any signatory or shareholder is resident outside of the UK.
What is the minimum and maximum I can invest?
The minimum initial investment is usually £5000 per account and the maximum is £1,000,000. If you wish to deposit more than this, please click here to find out how we can help you.
Can my business hold multiple savings accounts?
There is no limit on how many savings accounts you open with United Trust Bank, so you can choose to spread your funds over multiple accounts if you wish, both with our fixed rate and notice products.
If I own more than one business, can I open accounts for each of them?
Yes, though please note you need to have a different email address for each business.
What happens to the funds when the account reaches maturity?
We will both write to you and email you (if you have an email address registered with us) approximately two weeks before your account is due to mature, outlining your options for reinvestment.
It is important that you provide your instructions before the maturity date to secure any preferential existing customer rate you are offered. If we do not receive instructions by the maturity date, your funds will be transferred to a holding account paying just 0.10% AER gross, where they will remain for a maximum of 28 days before being returned to the nominated bank account we hold on file for you.
Ways to contact us
Secure Message via online banking: Login here
Telephone: 020 7190 5599; Monday – Friday 9am – 5pm
Post: United Trust Bank, One Ropemaker Street, London, EC2Y 9AW
Online contact form: Submit your enquiry here
Use our Help Centre to see if we can answer any of your queries online