Business Current Account Interest Rates
When searching for a Business Current account, interest rates, along with a number of other factors will obviously play a significant part in deciding which bank to go with.
Generally speaking, the interest rates on business current account deals will tend to be quite low compared to other more savings orientated policies.
This is largely due to the fact that business current accounts are primarily intended to deal with a large amount of transactions that are commonly involved with the running of a business. As such, interest rates on business current accounts tend to be cast aside in favour of other policies that may be more suitable for business owners.
When searching for a current account with suitable interest rates, it is advisable to shop around as much as possible. Different banks frequently offer similar policies for contrasting rates, and it is therefore advisable to research several different organisations in order to find the best policy.
See our tables below for an easy way to carry out business current account comparisons.
|Account||Interest (AER)||Account Charge||Cheque Charge||Debit Card||Features||Apply|
Card One Banking
|Card One Banking Small Business Account||n/a||From £12.50 pm, £55 set up fee||0.5% of cheque value||No credit checks, pay in at Barclays branches and at the Post Office , pay bills using Faster Payments from your smart-phone, UK call centre.||Call Now >|
It is not unheard of for business orientated banks to offer no interest at all on these types of business current account deal.
Instead of higher interest rates, many banks will offer policies that are intended to assist customers with the day to day running of their business. The following are some examples of common features and benefits that may be included as part of a business current account agreement:
- Low deposits and charge fees
- Overdraft services
- Access to professional advice
- Easy access for flexibility (telephone, online and branch banking)
Although interest rate for business current accounts will tend to be lower, it is important to consider many of the other features that are commonly included, as they may be highly beneficial for business owners.
Taking the time to carry out a full comparison of the business current accounts offered by different providers is the best way to make sure you get the right deal for you and your business.