Make the most of your Business Savings Account

You work hard for your money, so we want to make your money work harder for you. That’s why, we’ve put together some guidelines so you can get more from your savings. They’ll help you manage your Notice, Instant Access or Fixed Term Deposit Account.

We’ll give you a clear understanding of how to add or withdraw funds, what to do when your savings period ends and how to make the most of your Instant Access Account.

Fixed Term Deposit Account

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Notice Accounts

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Instant Access Account

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Getting to Know Your Fixed Term Deposit

Fixed Term Deposit – keeping it safe for a set amount of time

Once you open a Fixed Term Deposit, your funds will be locked in until the end of the term – the maturity date. Withdrawals aren’t allowed during this period, 

You can check your account and provide your maturity instruction either by logging on to Online for Business or Business Banking Mobile app or by calling us on 0345 305 5555.

Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays)

What happens at the end of the term?

The end of your Fixed Term Deposit period is called its maturity. Before this happens, we’ll contact you to explain what you can do next. You can also see your options later on this page.

Unless you tell us otherwise, we’ll automatically move your money and any interest into your linked account at the end of the term.

What happens to my interest payments if the fixed term is longer than 12 months?

If your Fixed Term Deposit period is more than 12 months, we’ll pay interest into your linked account on each anniversary of the deposit. We’ll pay the rest of the interest, as well as the original amount you put in, when your fixed term ends.

What can I do when my term ends? 

Keep growing your savings with a new Fixed Term Deposit Account

Why not carry on building for your future? You can reinvest your original deposit and the interest it’s earned in a new Fixed Term Deposit Account. You could also put in more or less than this or choose a different term. It’s all up to you.  

Save another way

You may want to carry on saving but perhaps need more flexibility. If so, a Notice Account or an Instant Access Account could be the answer.  

Do nothing and get your money

If we don’t hear from you, we’ll pay your original investment and your interest into your linked account when the term ends.

Why should I choose another Fixed Term Deposit Account?

You know what you’re getting

You’ll get a fixed rate of interest throughout your chosen term. So you’ll know at the start how much you’ll end up getting. And, you won’t be disappointed if rates go down.

Pick a term to suit your business

Choose a term length that matches your business goals and cash flow needs.

How do I give my maturity instruction online?

Online for Business

  1. Log on to Online for Business.
  2. Go to the Fixed Term Deposit that’s about to mature.
  3. Select ‘Update maturity instruction’.
Log on and update

Business Banking Mobile app

  1. Log on to Business Banking Mobile app
  2. Go to the Fixed Term Deposit that’s about to mature.
  3. Select ‘Update maturity instruction’.

Getting to Know Your Notice Account

How do I check my balance and recent activity?

Log in to Online for Business or use the business banking app to see your balance. You’ll also get a monthly statement by email from cbmo.mmtradesupport@lloydsbanking.com with your latest activity and interest earned.

 

When will I get my money after I’ve given notice?

Once you let us know you need your money, we’ll move it into a Fixed Term Deposit Account. We’ll hold it there for 32 or 95 days depending on your notice period. And, don’t worry, it’ll still be getting interest. Then when the notice period is over, we’ll move it to your chosen account.

How does giving notice impact the interest rate and the interest on my money?

The interest rate is fixed for the notice period. We’ll pay the interest your money has earned during this time into your chosen account at the end of the notice period.

Add or withdrawing money

​ How do I add or withdraw money?

If you have a 32 or 95-day Notice Account, you can add money to your savings or take it out using the business banking app.  Plus, if you have a 32‑day Notice Account, you can also use Online for Business. ​

To withdraw money, you must give either 32 or 95 days’ notice, depending on your account type. The minimum withdrawal is £10,000, and you’ll need to keep at least £10,000 in your account. If the balance is less than £10,000 after a withdrawal, we will close the account.

Add or withdraw money using the app​

  • To add or withdraw money, please make sure you have your Trade Reference to hand.​
  • Find it on your Notice Account tile - its 8-digits long and ends in LS.​

Online for Business

  1. Log in to Online for Business
  2. Go to your 32-Day Notice Account
  3. Choose ‘Add funds’ or ‘Withdraw funds’
  4. Available on 32-day Notice Account only.
Add or withdraw funds

Business Banking App

  1. Log on to your mobile banking app
  2. Click on the apply menu
  3. Select ‘Savings’ then ‘Add or withdraw Notice Account funds’
  4. Available on 32 and 95-day Notice Account.

 

Get the app

By phone

To add or withdraw funds, call us on 0345 305 5555, Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays).

Tips to Make the Most of Your Business Instant Access Account

Prepare for emergencies

Set aside some of your savings for emergencies. You can still get to your money as soon as you need to for this or anything else. 

Make the most of your surplus cash

Got some extra cash? Make sure it’s working harder for you by putting it into your savings account. It’ll still be easy to get to when you need it. 

Set short-term savings goals

Save for upcoming business expenses like new equipment, marketing initiatives or expansion plans. Take the money out when the time is right.

Sort out savings pots

Use your savings account to split up specific funds. This can help you manage different projects or financial goals, so you don’t mix them up with your main business account.

You can’t beat a buffer

Give yourself the peace of mind of knowing you’ve got a financial cushion by topping up your savings account. That way you’re protected against seasonal fluctuations or irregular income. And, with instant access, you’ll enjoy a smooth cash flow too.

Make saving a habit with a standing order

Take the hassle out of saving by setting up a standing order to put away some of your income. Once it’s in place, you won’t have to do anything. And your savings will just grow without you tending to them. 

How to put in or take out money 

Online for Business

  1. Log on to your Online for Business account
  2. Go to your Instant Access Account
  3. Choose 'Payments and transfers'.
Add or withdraw funds

Business Banking Mobile App

  1. Log on to your mobile banking app,
  2. Go to your Instant Access Account
  3. Select 'payments' or 'payments and transfers'.
Download mobile app