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Local Business Saver Account
Our competitive, easy access, savings account can help your local business thrive.
| GROSS RATE* | AER |
|---|---|
| 2.97% | 3.00% |
- Quick and efficient account opening
- Access your account balance with no charges or penalties
- Apply online or in-person and you will be contacted promptly by one of our team
- Access to notice and fixed term deposit rates
- Interest is calculated daily, paid quarterly
- Interest is paid gross without any tax being deducted
- Account access via online banking
Please note that withdrawals are processed between, 9am-5pm, Monday – Friday. Please refer to our payment cut-off times for full details.
Am I eligible?
- You are a Guernsey or Jersey registered limited company/charity/NPO
- You have Guernsey/Jersey directors/shareholders trading in Guernsey and/or Jersey
- You have minimum savings of £50,000**
- Not available for Financial Institutions or Private Investment Company (PIC)
- If you are a Financial Institution, click here to view our Corporate Banking products
- If you are a Private Investment Company (PIC), click here to view our Non-Personal Island Saver Account.
Please download and complete our application form then email it to [email protected].
*Rates are variable and subject to change
**Deposits that fall below the minimum balance will not accrue interest
Notice and Fixed Term Accounts
Corporate Credit Card
FAQs
Interest is calculated daily, paid quarterly and can be rolled up into your Local Business Saver account. Interest will be paid gross, without any tax being deducted.
Yes, the interest rate is variable. Rates are subject to change and will be notified via our website.
If you deposited £100,000 into your Local Business Saver account this would generate £3,000 of interest over 12 months, if no additions or withdrawals were made.
Yes. Additional funds can be added and withdrawn at any time (as long as you don’t go below the minimum £50,000 threshold you will continue to earn interest).
There is no limit on withdrawals/deposits which can only be completed online. Payments from an Local Business Saver Account can only be made by Faster Payments or Chaps.
You will need to download and complete the Local Business Saver application form and send this to [email protected] signed and provide original certified copies of your passport and utility bill. Once your account is open you will be granted access to Butterfield Online where you can access and manage your savings.
No. Accrued interest is unaffected and interest will continue to accrue daily calculated on the lower balance which needs to be in excess of £50,000.
Rates as at 16 May 2025
Rates are subject to change and will be notified via our website.
Fixed term deposit interest is paid on maturity. Publicly available information, including reports and accounts, is obtainable from Investor Relations | Butterfield Group. Our General Terms and Conditions can be found here.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
Please note that balances below the stated minimum will not accrue any interest.
The total amount of the money placed on deposit must not exceed the current balance of the account when you place the funds into the notice account. Continuous notice on Notice Accounts is not permitted.