Earn up to 4.83% AER* (variable) on your business savings

Name: Business Current Account
Brand: Allica Bank
Rating: 4.5 (824 reviews)

Get a top-tier instant access savings rate with Allica

*Rate includes standard rate of 3.83% AER, plus 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). Rates correct as of 13th January 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.

Earn up to 4.83% AER* (variable)

Instant access

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 4.83% AER* (variable) on savings while you continue to earn from your spending.

Earn up to 4.83% 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

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What we offer

Grow your savings. Access them instantly.

Easy to manage

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

Unlimited withdrawals

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

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 4.83%*	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.

APPLICATION PROCESS

Three steps to better business savings

Step one

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

Step two

Access your account online and open your Savings Pot.

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:

Limits, fees, and industry restrictions;
current account key product information;
current account terms and conditions;
Savings Pot key product information;
Savings Pot supplemental terms & conditions;

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

Businesses keeping less than £50,000 in the account may earn a reduced rate of interest or may incur fees.

Let's put your money to work

Fill out the form below and we'll be in touch to complete your application. Please ensure you're eligible to apply.

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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 3.83% 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.

Legal

Accessibility

Protecting your information and identity online

Modern Slavery Statement

Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 821851). Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Registered in England and Wales with company number 07706156.

Allica Bank savings accounts and business current account products are regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allica Bank lending products are not regulated products.

Asset finance and growth finance services are provided by Allica Financial Services Limited trading as Allica Bank Asset Finance. Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Incorporated under the laws of England and Wales with company number 12784979. Allica Financial Services Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The asset finance and growth finance products offered by Allica Bank Asset Finance are not regulated products.

Bridging Finance services are provided by Allica Bridging Finance Limited. Registered office: 3rd Floor 12-18 Grosvenor Gardens, London, England, SW1W 0DH. Incorporated under the laws of England and Wales with company number 10859711. Allica Bridging Finance Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The bridging products offered by Allica Bridging Finance Limited are not regulated products.

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