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Scottish Widows Bank launches new business savings accounts

09 July 2009 / by Rebecca Sargent

Scottish Widows Bank has doubled its business banking products with the launch of two new business savings accounts.

The One Year Fixed Term Business Deposit Account and the Business 7 Day Notice Account have both been awarded four out of five stars by Moneyfacts.

The One Year Fixed Term Business Deposit Account is a fixed term deposit account that currently pays 3 per cent gross/AER, and has a minimum investment amount of £10,000.

The Business 7 Day Notice Account has a lower rate of 1.75 per cent gross/AER on balances between £500 and £49,999, and a higher rate of 2 per cent gross/AER on balances of £50,000 or more. 

Commenting on the launch, Gordon Bowden, business development director at Scottish Widows Bank said: "The launch of these accounts completes our suite of products for business customers. We are giving businesses the choice of easy access and/or guaranteed fixed term interest."

The accounts are available to businesses ranging from small to medium enterprises, sole traders, charities and clubs.

Learn more about the Scottish Widows Bank business savings accounts »

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Business Savings Selection
ProviderAccountRate TermApply
1.10%1 YearMore Info >
1.10% gross/AER. £1,000 minimum opening balance. No withdrawals.
1.00%6 MonthsMore Info >
1.00% gross/AER. £1,000 minimum opening balance. No withdrawals.
0.85%Easy AccessMore Info >
0.85% gross/AER. £1,000 minimum opening balance. Unlimited withdrawals.
0.80%1 YearMore Info >
A highly competitive rate of interest if you can lock your savings away for 1 year, with interest paid on maturity. Open to businesses with fewer than 250 employees and a turnover or assets of up to £45 million.
0.75%95 Day NoticeMore Info >
0.75% AER/gross. Withdrawals subject to 95 days notice. Minimum Deposit £10,000, maximum balance £5,000,000. Available to UK businesses.
0.70%6 MonthsMore Info >
A highly competitive rate of interest if you can lock your savings away for 6 months, with interest paid on maturity. Open to businesses with fewer than 250 employees and a turnover or assets of up to £45 million.
0.70%95 Day NoticeMore Info >
Earn a higher rate of interest if you don;t need immediate access to your savings, with interest paid monthly or annually. Open to businesses with fewer than 250 employees and a turnover or assets of up to £45 million.
0.55%Instant AccessMore Info >
Instant access account for - BUSINESS, CHARITIES, HOUSING ASSOCIATIONS, CLUBS & PARTNERSHIPS - Interest paid monthly or annually. Open to organisations with fewer than 250 employees and a turnover or assets of up to £45 million.