Best Business and Charity Bank Rates-Your Bank Needs You!
Best Business and Charity Bank Rates-Your Bank Needs You!
How will our high street banks rebalance their books? Well appears that one way is to offer loyal cash rich businesses (both limited companies and partnerships/sole traders) and charities a poor rate of return of less than base rate then hand it over to first time buyers at 6% over base and even higher for personal loans.
Step one should be to regularly evaluate the business/charity’s need for cash in the short term. Then find a good deposit rate by shopping around, yes it can be hassle but the rates below show the banks really need your cash to cross subsidise another part of their business.It takes a couple of calls then a form to move not your current account but to set up a satellite high interest account.
So lets stop propping up their business balance sheet a and run your business cash efficiently and prop up your own- charity begins at home.
Business cash rates as at 11 November 2009 up to £50,000
RBS Instant Access 0.05% 1 Month notice 0.29%
HBOS Instant Access 0.0% 1 Month 0.35%
AIB Bank Instant Access 0.05% 1 Month 0.35%
Standard Life Bank Instant Access 0.8% 1 Month 1.18%
Scottish Widows Bank Instant Access 1.25%(7 day notice) 1 Month 1.25%
The rates for £50,000 or more you can generally add another 0.25%
Please call us for full details.
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