The variety of high interest business accounts may spoil you for choice. It's all about the features you need and the best interest rate you can get.
- Instant access accounts tend to offer less interest but more flexibility, so you can move money as you need it, but earn more interest than you other would in a transaction account.
- Bonus interest accounts offer less interest as standard, but even higher interest if you meet conditions, such as minimum balance or no withdrawals in a month. Note that if you're likely to require as little as three or four withdrawals a year, you may be better off with an instant access account.
- Business savings packages combine all your transaction and high interest needs in the one account, offering both access and good rates. The catch - usually - is a monthly fee.
- Small business term deposits lock your money away for pre-determined periods. Note that as interest rates rise, many competitive savings accounts will offer better interest (and flexibility) than their term deposit peers.