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Business Reward Saver

Get a higher rate on your business savings when you're able to avoid making withdrawals

Santander Business Banking provides dedicated banking services for customers with an annual turnover of up to £250,000.

Key features of the Business Reward Saver

  • Open your account with a minimum of £5,000 (see note 1) and continue to save any amount up to £2 million.
  • Enjoy a variable rate of interest when you make no withdrawals from your account. See table below for specific rates.
  • Enjoy instant access to your funds.
  • You can choose to have your interest paid monthly or annually.

 

Please note that if you make one or more withdrawals in a month, you will receive a rate of 0.10% gross/AER (variable - see tables below) on the full balance for that month only.

Please also note that if the balance on your Business Reward Saver account falls below £5,000 the applicable interest rate on your account will revert to 0.10% gross/AER (variable).

 

Print off an application form or call us on 0800 077 8839

Business Reward Saver - Interest rates

 

Interest paid monthly or annually

Tier

Effective rate if withdrawal is made

Gross Rate p.a.

AER (variable) (see note 1)

Net Rate p.a. (see note 2)

£5,000+

0.10%

0.10%

0.08%

£0-£4,999

0.10%

0.10%

0.08%

 

Tier

Effective rate if no withdrawals are made

Gross Rate p.a.

AER (variable) (see note 1)

Net Rate p.a.  (see note 2)

£5,000+

1.00%

1.00%

0.80%

£0-£4,999

0.10%

0.10%

0.08%

  All interest rates are effective as at September 3, 2013

 

Accessing your account

We understand that to run a business, you need to be able to manage your account easily. For this reason we've made it simple to run your account:

  • You can make withdrawals and deposits by telephone, online and through our ATMs.
  • You can choose to have a single or joint account with up to 10 joint account holders.
  • You can also nominate colleagues to have access to your account to manage it while you get on with running your business.


Eligibility

  • You can open a Business Reward Saver account if you are a UK citizen aged 18 or over.
  • You can open your account with a minimum of £5,000 and continue to save any amount up to £2 million.

 

How to apply

Apply for your Business Reward Saver in any of the following ways.

 

Specific Terms and Conditions

Please see the fact sheet for the specific terms and conditions.

Business Reward Saver Account

Note 1: AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off.


Note 2: The net rate is the interest rate we pay after deduction of income tax at the rate specified by law (currently 20%). Businesses such as Limited Companies, Charities, Local Authorities and Pension Funds are eligible to receive interest without deduction of tax.

 

This offer is subject to availability and may be withdrawn without notice at any time.