Co-op business savings accounts are available in two different formats, they are the business select account and the guaranteed investment account.
Business select accounts can be opened relatively easily, with a starting deposit of only £1, with no set rules regarding how much, or little customers can choose to deposit every month. Guaranteed investment accounts are slightly different. Using a tiered system, customers can expect to receive substantially higher interest rates the more they can afford to invest.
When searching for a suitable business savings account, it is important to compare deals to find the most suitable account for your requirements.
Here are some of the other features that are included as part of these Co-op business savings accounts:
Business Select Accounts
- Low starting deposit
- Instant access or 14 notice accounts available
- Funds can be transferred between Co-op accounts
- Interest is received twice per annum
- Customers must already have a preexisting co-op savings account in order to be eligible
Guaranteed Investment Accounts
- Guaranteed fixed interest rates
- No previous Co-op savings account is required
- Interest rates that increase alongside the size of the customer’s investment
- Customers can make an investment ranging from £25,000 to £1 million