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Earn up to 4.58% AER* (variable) on your business savings

Get a top-tier instant access savings rate with Allica

Apply now

*Rate includes standard rate of 3.58% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 11th February 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

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Earn up to 4.58% AER* (variable)

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Instant access

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Interest paid monthly

Savings Pot

Make the most of your company's spare cash

Our Savings Pot is an exclusive feature of our Business Rewards Account. You can earn up to 4.58% AER* (variable) on savings while you continue to earn from your spending.

  • Earn up to 4.58% AER* (variable) on your company’s spare cash
  • Instant access – deposit and withdraw whenever you like
  • Interest paid monthly
  • FSCS protected (eligible deposits only)
  • An exclusive feature of our Business Rewards Account

Apply now

 

*Rate includes standard rate of 3.58% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 11th February 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

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What we offer

Grow your savings. Access them instantly.

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Easy to manage

Manage your money easily via our app or online banking, all backed up with UK-based phone support.

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Unlimited withdrawals

Transfer money in or out of your Savings Pot as often as you like.

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No more call queues

All business bank account customers get contact details for their own relationship manager.

PROTECTING YOUR SAVINGS

You're in safe hands

Our current account and savings accounts are covered by the Financial Services Compensation Scheme (FSCS). This means that, should anything happen to Allica Bank, any eligible deposit of up to £85,000 will be protected.

Find out more about your eligibility for FSCS coverage here.

 

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BUSINESS SAVINGS COMPARISON

Get a top-tier instant access savings rate

 

  INTEREST
 (variable)
 PAID
Allica Bank Up to 4.58%* Monthly
HSBC 1.81% Monthly
Barclays 1.51% Quarterly
Santander 1.05% Monthly
TSB 1.00% Monthly
Natwest 1.36% Monthly

 

 

Interest rates correct as of 13th January 2025. All rates above are variable at the time of writing.

 

*Rate includes standard rate of 3.58% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 11th February 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

APPLICATION PROCESS

Three steps to better business savings

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Step one

Fill out the form below and we’ll be in touch to complete your application.

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Step two

Access your account online and open your Savings Pot.

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Step three

Add funds to start earning interest on your business savings.

Why choose Allica?

Allica is a bank built for the established businesses that are the backbone of the UK’s economy. We offer the kind of face-to-face banking that businesses used to get, supercharged with modern technology. It's how business banking used to be, just better.

Terms & conditions

See a full list of:

Eligibility criteria

Our Business Rewards Account is a current account designed for established businesses who: 

  • are incorporated for a minimum of 12 months
  • keep a balance of £50,000 or more in their account
  • or have a loan product with us

See Key Product Information for further information.

Let's put your money to work

Fill out the form and we'll be in touch to complete your application. 

Keep in mind: Our Business Rewards Account is designed for established businesses who keep a balance of £50,000 or more in their account. See our eligibility criteria.
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Frequently Asked Questions

What type of savings account is this?

Allica’s Savings Pot is part of our business current account – the Business Rewards Account. To access our Savings Pot, you will need to open a Business Rewards Account.

What interest rate can I get with Allica?

Allica’s Savings Pot earns a standard rate of 3.58% AER* (variable), which can be boosted by up to 1% with Savings Pot Boosts. This includes a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (CASS). See our Savings Pot Key Product Information for more details.

What is AER?

‘AER' stands for ‘annual equivalent rate' and is designed to make it easy for you to compare savings products. It illustrates what the interest rate would be if interest was paid and compounded once each year. 

Can I access my money at any time?

If you typically keep a balance of £50,000 or already have a loan with us, you can transfer money in and out of your Business Rewards Account Savings Pot as much as you like with no monthly fees. Businesses keeping less than that in the account may incur fees.

Can the interest rate change?

Yes. The interest rate on the Savings Pot is variable. If the interest rate decreases, we'll tell you at least 14 days before it changes. If it increases, we'll notify you within 30 days of the change.

How can I open a Business Rewards Account?

Our business current account is designed for businesses who are incorporated for 12 months and typically keep a balance of £50,000 or more in the account, or for existing Allica customers who have a loan with us. Apply online here. 

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