Big banks pay small businesses a fraction of Bank Rate on their savings

The UK's five biggest business banks are paying small firms between 0.5% and 1.21% on easy-access savings, less than a third of Bank Rate, according to Bank Solutions, which read the published rate of every easy-access business savings account in its dataset on 30 September 2026.

Lloyds Bank pays 0.5% on its Instant Access Account. Santander pays 0.8% on both its Business Everyday Saver and its Treasurer's Savings Account, and 1.00% on its Business Reward Saver in months with no withdrawals (0.40% otherwise). NatWest pays 0.85% on Business Reserve, Barclays 1.05% on its Business Premium Account and HSBC 1.21% on Business Money Manager. The median across the seven accounts is 0.85%.

Smaller banks pay around three times the best big-bank rate, and nearly eight times Lloyds'. Cynergy Bank's Business Saver pays 3.90%, Shawbrook's Easy Access Business Account 3.86%, Recognise Bank 3.55%, and United Trust Bank and Virgin Money 3.50%. Across the 27 easy-access accounts from other providers, the median is 3.15%. Every one of those five banks publishes FSCS protection of up to £120,000 per eligible depositor.

What it costs a business

A business with £50,000 in Lloyds' Instant Access Account earns £250 a year. The same money in Cynergy Bank's Business Saver would earn £1,950, a difference of £1,700 a year. At HSBC, the best of the big five, the business would earn £605.

The big banks' rates have not moved for months. Lloyds' rate is "correct as at 20 January 2026", HSBC's has applied since 10 March 2026 and Barclays' since 24 March 2026.

Sam Allcock, editor of Bank Solutions, said: "Small firms are some of the most loyal customers a bank has. Most leave their reserve in the savings account that came with their current account and never look again. With Bank Rate at 3.75%, the biggest banks are keeping most of the interest. Moving it to a smaller bank with the same £120,000 protection takes an afternoon."

Every business savings account, with its rate, minimum deposit and the page it was read from, is at banksolutions.uk/compare/business-savings.

Notes to editors

• Source. Rates are Annual Equivalent Rates (AER) as each provider publishes them on its own website or summary box, read on 30 September 2026.
• Easy access means no notice period and no fixed term. The smaller-bank comparison uses accounts with no withdrawal limit, introductory bonus or minimum-balance tier: United Trust Bank's 4.15% Limited Access accounts (two withdrawals a year) and its 3.90% tracker (which includes a 12-month bonus) are left out for that reason.
• Minimum deposits: Cynergy Bank £10,000, United Trust Bank £5,000, Shawbrook £1,000, Virgin Money £1, Recognise Bank £85,001. Eligibility (sole trader, partnership, limited company) varies and is shown for each account on the site.
• Interest examples are the AER applied to £50,000 for a year.
• Changes since our last reading on 5 September: Tide cut its Free-plan Instant Saver from 2.00% to 1.50% on 23 September; Hampshire Trust Bank has paused its business savings accounts to new customers.
• Credit. Source: Bank Solutions analysis of providers' published tariffs (banksolutions.uk). Online, please link to the page the figure came from.
• About Bank Solutions. An independent UK business banking comparison published by Domain Farm Ltd (company number 13544286). No bank or provider pays for or sees a figure before publication. Bank Solutions earns referral fees from some providers, which never affect a figure or a ranking.
• Contact: Sam Allcock, editor, editor@banksolutions.uk