ING Direct Business Savings Account
Easy Access to your Money
- New business customers can enjoy a rate of 1.99% AER* (1.97% gross p.a.) variable including a 1.47% gross p.a. bonus fixed for 12 months. This rate applies from the business day following account opening on balances up to €1,000,000 plus resulting interest
- Otherwise standard variable rate applies, currently 0.50% AER (0.50% gross p.a.). After 12 months the rate will revert to the standard variable rate
- No charges for withdrawing your money
- Start saving from €1, with no minimum or maximum monthly deposits
- Save up to a total of €1,000,000 in your ING Direct Business Savings Account
- Transfer money to your linked account the same business day^
- Simple and straightforward online application process
- Dedicated Business Savings Account staff
Safe and Secure
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Summary of information table
|Account Name||ING Direct Business Savings Account|
|Eligibility||The ING Direct Business Savings Account is only available to Sole Traders, Partnerships, Limited Liability Partnerships and Private Limited Companies (limited by shares), registered or based in the UK with a UK registered office/business address and a UK trading address (if different). Persons with 25% or greater ownership of the business must be UK resident and 18+. (UK for these purposes excludes the Channel Islands and the Isle of Man.)
The account is for business use only and cannot be used as a client or trust account. Each business may only hold one ING Direct Business Savings Account. Not available to businesses that are wholly or party owned by another business.
|Interest rates (AERs)||
New eligible business customers can enjoy a rate of 1.99% AER* (1.97% gross p.a.) variable, which includes a 1.47% gross p.a. bonus fixed for 12 months. This rate applies from the business day following account opening on balances up to €1,000,000 plus resulting interest.
Otherwise standard variable rate applies, currently 0.50% AER/gross p.a. After 12 months the rate will revert to the standard variable rate.
Interest is calculated daily and paid monthly.
Interest is paid gross for Limited Companies. Interest is paid net for Partnerships and Limited Liability Partnerships. Interest is paid net for Sole Traders, unless the Sole Trader registers to receive gross interest.
|No notice required. A maximum of 5 withdrawals per business day applies.
Withdrawals can only be made to the nominated linked account. The linked account must be a UK business current account with a chequebook (not including accounts held in the Channel Islands or Isle of Man).
|Initial funding must be by cheque from the nominated linked account. Subsequent deposits can be made electronically or by cheque. A maximum of 10 cheques may be deposited into the account each calendar month.|
|Access||Web and telephone (applications can only be made online).
There must be two Authorised Users for Limited Liability Partnerships, Partnerships and Companies (except sole director Companies) and one Authorised User for Sole Traders. Details of who can be Authorised Users can be found here
*AER means Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid at the stated rate for 12 months and compounded once each year. Gross per annum is the annualised rate before deduction of tax at standard rate.
^ Withdrawal limits apply, click here for further information