Reserve Account for Business

An instant-access account that pays interest on your surplus business cash.

The minimum balance is only £1 and you can invest up to £2m. You get:

instant access
free withdrawals
tiered interest rates
interest paid quarterly
same-day transfers between accounts

And you can choose whether your interest is paid into your Current Account or Reserve Account and access your account via OnLine Banking.

Please read this important legal information

Reserve Account for Business interest rates
Balance £	Current gross rate per annum %	Current AER* %	Previous gross rate per annum %	Previous AER* %
0-1,999	0.50	0.50	2.00	2.02
2,000-24,999	0.50	0.50	2.00	2.02
25,000-49,999	0.50	0.50	2.00	2.02
50,000-99,999	0.50	0.50	2.00	2.02
100,000-249,999	0.50	0.50	2.00	2.02
250,000-2,000,000	0.50	0.50	2.00	2.02

* Annual Equivalent Rate.
Last updated 20 November 2008.

Interest rates

Gross: the interest rate paid before the deduction of tax.
Net: the interest rate paid after the deduction of tax.
Annual Equivalent Rate (AER): illustrates what the interest rate would be if paid and compounded each year.

Interest is calculated daily and applied quarterly.

Offset Banking for Business

If you choose to offset your Reserve Account for Business balance against your Offset Flexible Mortgage, you won't earn interest on the money in your Reserve Account for Business, as that balance is being used to reduce the interest you pay on your mortgage. If your Reserve Account for Business balance is higher than your mortgage balance, you will earn interest on the amount over and above your outstanding Offset Flexible Mortgage balance. Please see our Offset Banking for Business page for more information.

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