Branches & agencies
Easy Access Business Deposit
Our Easy Access Business Deposit is an easy access business savings account offering a variable rate of 1.65% Gross/AER. Eligible UK registered Private Limited Companies, Sole Traders, Partnerships and Unincorporated Associations (excluding Clubs, Societies and Trusts), can save between £500 and £300,000. Withdrawals available without notice or penalty. Interest is paid annually on this account.
| Rate | 1.65% Gross /AER |
|---|---|
| Access | Yes Any time |
| Interest | Annually |
| Minimum Investment | £500 |
Savings are protected by FSCS
Independently reviewed by Smart money people
Is this Easy Access Business Savings Account right for you?
This Easy Access Business Account is good for you if
- You’re an eligible UK business with £500 or more to save
- You want access to your business savings without giving notice or paying a penalty
- You’re comfortable with a variable rate of interest
- You want to keep your business savings accessible rather than locking them away for a fixed term
Consider something else if
- You have less than £500 to save
- You don’t need immediate access to your business savings
- You would prefer to lock your savings away at a fixed rate
- You’re looking for a personal savings account
About this account
Account name: Easy Access Business Deposit
What is the interest rate?
This account offers a variable rate of interest as follows:
| Interest Rate | Minimum Balance | Gross* | AER** |
|---|---|---|---|
| Annual | £500 | 1.65% | 1.65% |
Interest will be paid on 1 December each year.
Can Hinckley & Rugby Building Society change the interest rate?
We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,016.50
These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.
How do I open and manage my account?
Available to UK registered Private Limited Companies, Sole Traders, Partnerships, and Unincorporated Associations (excluding Clubs, Societies and Trusts).
This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit* and ID documents, or post them to us at the address in this brochure.
At least one director must be a signatory, with a maximum of four signatories to the account. For partnerships, all partners must be signatories to the account.
*The minimum deposit required to open and maintain this account is £500 and the maximum balance is £300,000. The opening deposit must be by a cheque drawn on the company’s nominated bank account and payable to your company name, or by electronic funds transfer from the company’s nominated bank account. It must be credited to the account within 5 business days of the account being opened, or the application process will need to be restarted. Cash deposits are not allowed to be paid into the account.
You can manage your account at any of our branches or agencies, by phone, or by post. You can also manage your account online: on our app or by using H&R Online on our website (after registering for the service).
Can I withdraw money?
Yes, you can withdraw money without notice or penalty.
Requests can be made in writing, by phone, by visiting a branch or agency, or on our app or by using H&R Online on our website (after registering for the service).
Withdrawals can only be made by Faster Payment transfer and will only be sent to the company’s nominated bank account from which the funds to open the account were drawn.
All withdrawals are subject to our daily limits, as outlined in our Savings Account Terms and Conditions booklet
Additional information
Interest is paid gross without tax deducted.
* Gross rate – the annual rate of interest payable without any deduction of tax.
** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.
Important Documents
Easy Access Business Savings Account FAQs
What is an Easy Access Business Savings Account?
An Easy Access Business Savings Account allows your business to save while retaining access to its money without having to give notice or pay a penalty.
Who can open an Easy Access Business Account?
This account is available to UK registered Private Limited Companies, Sole Traders, Partnerships and Unincorporated Associations, excluding Clubs, Societies and Trusts.
How much can I save in this business savings account?
The minimum balance required to open and maintain the account is £500 and the maximum balance is £300,000.
Can I withdraw money from my Easy Access Business Deposit at any time?
Yes. You can withdraw money without notice or penalty. Requests can be made in writing, by phone, by visiting a branch or agency, through the mobile app or using H&R Online after registering for the service.
How are withdrawals paid from the account?
Withdrawals are made by Faster Payment and can only be sent to the company’s nominated bank account from which the opening funds were received.
Is the interest rate fixed on this Easy Access Business Savings Account?
No. The account pays a variable rate of interest, which means the interest rate may change. Interest is paid annually on 1 December.
What if my business does not need easy access to its savings?
If your business can give notice before withdrawing money, you may want to consider one of our other business accounts available. Visit for more details.
Identification Requirements
Identification Requirements for this Easy Access Business Savings Account
We need to confirm the identity of the company and each signatory in order to protect you against fraud and to comply with legislation.
You are required to provide the following documentation to open a Business Deposit Account:
We need to confirm the identity of each authorised signatory operating the account.
- We use an electronic verification system when opening an account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example, if you are not listed on the electoral roll or you have recently moved house).
If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.
If you think you will need to provide identification, please visit Proving your identity or contact us on 0800 434 6343.
For Limited Companies
• A Board Resolution on company headed paper authorising named signatories to open the account.
• We will verify the identity of the company and directors with a Companies House search.
For Sole Traders
- Bank statement in the business name or ‘trading as’ – dated within the last 3 months
• Letterhead, invoice, or business card if available
For Partnerships
- Partnership agreement or articles
• Bank statement in the business name – dated within the last 3 months
For Unincorporated Associations
- Memorandum of constitution or rules
• Bank statement in the business name – dated within the last 3 months
We reserve the right to request further documentation during the life of the account should we require this to meet our legal obligations.
Protecting your money
Your eligible deposits with Hinckley & Rugby Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any total deposits you hold above the limit are unlikely to be covered.
Explore our range of savings accounts
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