State Bank of India Business Savings Accounts

The State Bank of India, with origins tracing back over 200 years, offers most of its services internationally, including its business savings accounts. The State Bank of India has two business savings accounts currently on offer:

 

  • ‘SBI Hi Return’ Business Fixed Deposit
    This account has an interest rate fixed for 1 year and paid at maturity. No further contributions can be added during the fixed term; however you may be able to open more than one fixed deposit account. There is a minimum limit on deposits of £50,000 and all deposits must be in sterling.

 

  • Business Instant Access Savings Account
    This account has a variable interest rate that is paid monthly, and unlike the above offer there is no limit to the amount of withdrawals you can make.


If you would like some more information on deals offered by other providers, see the product comparison table below and find the right savings account for your business.

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.
0.65%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.
0.55%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.
0.55%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.
0.40%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.

If you decide to take out a business savings account from the State of India, or perhaps another provider, there are some things to consider.


One of the main reasons people want to take out a business savings account rather than a current account is that they will usually have a significantly higher rate of interest. Notice accounts will tend to reward you with a higher rate of interest than no notice accounts.


However, with a notice account you will not have the freedom to make withdrawals. This choice is important when looking at the State Bank of India’s business savings account deals on this page, or some of the other offers featured in the comparison table.

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

3%

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 3% 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.