The FSB Diamond Account offers a consistently competitive rate of interest on your business savings. This has become a key banking benefit for members since the FSB first introduced it in 2003.

Most small businesses keep their money in a business current account, earning very little interest. But all businesses – sole traders, partnerships and limited companies - can open a business savings account, earning considerably more interest.

Savings Account - Better than your Current Account?

• A 7 day notice savings account, paying a consistently competitive rate of interest based on a guaranteed formula:

Bank Base Rate less 0.5% for balances of £2,500 and above

Bank Base Rate less 1.5% for balances below £2,500

• The account can be opened in either a business or individual's name
• It is ideal for excess business funds and/or to save for capital expenditure or Tax/VAT
• Euro & USD Diamond Accounts also available

Earn Base Rate on all balances of £2,500 and above deposited in the FSB Diamond Account between 1 October 2008 and 30 September 2009.

This variation to the terms of the account will run from 1 Oct 08 to 30 Sept 09 and is in recognition of current market conditions. At the end of this period, the interest rate will revert back to the standard terms (0.5% below Base Rate for £2,500+ and 1.5% below Base Rate on smaller sums).

Fixed Term Rates now available for £25,000 plus. Call for details.

Features and Benefits of the Diamond Account

• Savings account for businesses & individuals
• Base Rate Tracker
• Guaranteed to be 0.5% below
• Base Rate on balances of £2,500+ (Base Rate less 1.5% on smaller balances)
• Easy to open and operate
• Electronic transfers (tax/VAT payments direct to HMRC)
• No charges
• 7 days notice
• Friendly, personal service

How to Open an Account

Members log in for details