Business Investment Account
Our instant access savings account allows you to earn interest until you need to make a withdrawal. Simply transfer what you need to your main business account.
Good to know:
- This is an instant access savings account.
- You can save as much as you like.
- You can have more than one account.
- When you need to make a withdrawal simply transfer what you need to your main business account. There is no notice period or penalty for withdrawals.
- You can access your funds 24/7 using District.
Need to know:
- The minimum amount required to open and maintain an account is £1.
- Interest is calculated daily and applied quarterly to your account.
- There is no debit card available with this account.
- This product is not suitable for customers requiring day-to-day transactional activities like those offered by a business current account.
Want to open an account?
You can call us on 0345 850 9515 or visit a branch.
If you are registered for District - you can open an account online as and when suits you. Just look for 'Marketplace' on the left-hand menu in District. If you have a Relationship Manager you can contact them directly.
Summary Box
Account name: Business Investment Account
1. What is the interest rate?
| Balance | Gross Interest rate / AER |
|---|---|
| Under £1,000 | 1.65% |
| £1,000 to £1,999 | 1.65% |
| £2,000 to £9,999 | 1.65% |
| £10,000 to £24,999 | 1.65% |
| £25,000 to £49,999 | 1.65% |
| £50,000 to £249,999 | 1.65% |
| £250,000 and over | 1.65% |
If you have a Danske Enterprise or Danske Enterprise Plus account, you can receive an extra 0.25% on the standard gross interest rates shown. For example, a balance under £1,000 would have the following rate:
| Balance | Gross Interest rate / AER |
|---|---|
| Under £1,000 | 1.90% |
- Interest is paid on a tiered basis, which means you will earn one rate on your entire account balance. That rate depends on the total balance.
- Interest is calculated on a daily basis on the cleared credit balance on your account and applied on the last calendar day in March, June, September and December.
2. Can Danske Bank change the interest rate?
- Yes, this rate is variable. We can increase the credit interest rate immediately without having to give a reason. We can decrease the credit interest rate for any of the reasons set out in the Terms and Conditions Business Accounts.
- We may increase the credit interest rate payable on the account immediately. We will advise you of any increase in the credit interest rate on your next statement.
- If you are a micro enterprise or a charity with annual income of less than £1m (one million pounds Sterling) we will give you two months written notice of any reductions to the credit interest rate, otherwise the period of notice may be less than two months but will be at least 30 days.
- Please see Clause 16.2 and 26.7 in the Terms and Conditions Business Accounts for more details on when we may change the credit interest rates and the notice that we will give you.
3. What would the estimated balance be after 12 months based on a £1,000 deposit?:
| Initial deposit at account opening | Estimated interest earned after 12 months | Estimated balance after 12 months |
|---|---|---|
| £1,000 | £16.50 | £1,016.50 |
If you have a Danske Enterprise or Danske Enterprise Plus package, you can receive an extra 0.25% on the standard gross interest rates, and the estimated balance after 12 months would be:
| Initial deposit at account opening | Estimated interest earned after 12 months | Estimated balance after 12 months |
|---|---|---|
| £1,000 | £19.00 | £1,019.00 |
These estimates are for illustrative purposes only and does not take into account your individual circumstances.
The estimate assumes that:
- no further deposits or withdrawals are made;
- there is no change to interest rate and tiers; and
- interest is added to the account on the last calendar day in March, June, September and December.
4. How do I open and manage my account?
- The account is available to all business customers.
- You can open your account in branch or by telephone.
- You can communicate and give us instructions by writing to us, telephoning us, visiting one of our branches or by using District (if you have registered for this service).
- A minimum balance of £1 is required to open and maintain the account.
- There is no maximum limit to the amount of funds you can hold in the account.
5. Can I withdraw my money?
- Yes, you can withdraw money:
- at any of our branches in cash, or
- by electronic transfer using District (if you have registered for this service).
- Limits may apply depending on which method you choose to make the withdrawal. See our payment table in the Terms and Conditions for Business Accounts for more details.
6. Additional Information
Interest is paid ‘gross’. This means that we do not deduct tax from interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest. If you are a Sole Trader or a Partnership (where all the partners are individuals), this will depend on your total taxable income, interest that you receive and your Personal Savings Allowance.
AER stands for 'Annual Equivalent Rate' and illustrates what the interest rate would be if interest was paid and compounded (paid on the total balance including previous interest) once each year.
Rates correct as of 1 September 2023.
The information provided in this summary box includes the key features of the account only and is not intended to be a substitute for reading the terms and conditions that apply to the account.
Further information
You will be sent a statement at least every 6 months. You can choose digital statements if you have District. Just ask.
District may be temporarily unavailable when we carry out routine maintenance.
