Business Current Account

Business Account

1.01% AER

Available only for Small and Medium Sized Enterprises (SMEs) incorporated in the European Economic Area (EEA). As per the European Commission, Enterprises qualify as SMEs, if they have less than 250 employees and a turnover of ≤ €50 million or a Balance sheet total of ≤ €43 million.
All new SMEs are required to provide satisfactory account opening documents. Click here to download the form.
Annual fee will be waived subject to minimum monthly average balance requirement of £10,000.
Interest rate of 1.01% AER/Gross variable will be paid on a monthly basis.
Interest will not be paid on balances below £10,000 or above the maximum balance of £5million.
A total of 25 free transactions are permitted per month, after which standard charges apply for each transaction as per the existing tariff of charges available on www.sbiuk.com. Free transactions apply to issuance of cheques, deposits of cheques, direct debits, standing orders, funds transfers through faster payments.
Account can be managed in the branch, by post or by using the online banking facility provided with the account.
Maximum limit for transferring funds via online banking will be £50,000 per day. This can be changed at the bank’s discretion.
Please refer to our General Terms & Conditions and Tariff of Charges.