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If your business has a large amount of residual cash currently sitting in your business account then you may want to look for a business savings account to get a better return on your funds.
A business savings account could also prove useful for setting money aside for annual tax bills or managing your businesses finances on a day to day basis.
As with personal savings accounts, business savings accounts can come in a variety of different guises and picking the best business savings bonds will depend on your circumstances, for example if you have a small business you'll want to find the best business savings accounts for small businesses.
Here's how to get the best high interest business accounts to work your money harder.
To find the right business savings account you'll need to think about how long you want to save for.
If you are going to need to access the money at short notice then you are likely to need an instant access account, this type of account will allow you to freely deposit and withdraw funds at your convenience while paying you interest on the money held in the account.
One year business savings accounts will lock your funds away for 12 months but offer a better return as a result and will tend to offer the best one year return on your business savings.
However, if you are happy to tie the business funds away for a set period then business bonds or business investment bonds may be offer better savings rates on your money.
Regardless of the type of account you are looking for, it will be the business savings accounts interest rates that will determine how profitable the account is.
Once you know how long you can tie the money up for in order to find the best account possible for your business you will need to look for the business bonds best rates for that type of account.
You can find the market leading business savings accounts and bonds in minutes using our business savings accounts comparison table so you know the money is in the best account possible. Find a few accounts with terms that suit your needs, then pick the one with the best business savings rates.
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