Bank of Cyprus Business Savings Accounts

The Bank of Cyprus offers their business savings account with the aim of trying to take the complexity out of banking for the customer. The company claims to be focused on providing customers with attractive savings products that are competitively priced.


Bank of Cyprus UK provides business savings accounts with a variety of options:

 

  • Fixed Rate Bonds 
  • Flexi-bond
  • Charity-Bonds
  • Instant Access Account
  • 35 Day Notice Account
  • Fixed Deposits


We go into more detail about the differences between these Bank of Cyprus business savings below our easy to use product comparison tables. We recommend that you compare this business savings account deal with the ones that we listed and see how they contrast before settling on any particular deal.

Business Savings Selection
ProviderAccountRate TermApply
1.30%1 YearMore Info >
1.30% 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.
0.75%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.
0.50%Easy AccessMore Info >
0.50% gross/AER. £1,000 minimum opening balance. Unlimited withdrawals.

The business savings accounts that the Bank of Cyprus offers are broken down into the following varieties:


Fixed Rate Bonds 
This business account deal allows you to save for a prolonged period of time in a high interest account. You must be sure that you do not need the money for a long time. When you decide to withdraw from the account you will receive a lump sum, which is the interest you have accumulated throughout the life of your fixed rate bonds account.


Flexi-bond
This type of business savings account allows you to receive a higher rate of interest for 12 months. As with a fixed rate bonds account, you must be sure that you will not need the money in your flexi-bond account. The benefit of this account is that it is only for one year, and you can reap the rewards of interest after the year is over.


Charity-Bonds
This business savings account deal is designed for charities, with high interest rates and flexibility. The charity that arranges a Charity-Bond savings account also receives a cash-back donation from Bank of Cyprus.


Instant Access Account
An instant access account provides a business with the opportunity to receive high interest rates while being able to access its finances whenever they are required.


35 Day Notice Account
The 35 day notice savings account is similar to the instant access account, in the way that it provides the opportunity to save and earn high rates of interest with the difference being that you have to give Bank of Cyprus a 35 day notice before withdrawing.


Fixed Deposits
A fixed deposit savings account allows you to save, with the reassurance that you are receiving a set rate of interest, regardless of changes in international interest rates.

Cash ISA Selection
ProviderPlan NameDeposit TakerISA OptionTermMaximum Potential ReturnMore Info
Kick Out Deposit PlanInvestec Bank plcyesUp to
6 years

4%

per annum

More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 4% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.
Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.