Save Confidently, Access Easily

A Business Savings Account is an easy-access savings account offered by ICICI Bank UK for businesses that want to earn daily interest on surplus funds. It allows savings up to £5 million, provides variable interest rates and supports no-penalty withdrawals to the linked ICICI Bank UK Business Current Account.

Interest is calculated on the daily closing balance and paid at the applicable variable AER (Annual Equivalent Rate). Rates change over time and earnings depend on maintaining funds in the account without withdrawals. Businesses with balances above £5 million do not earn interest, as the AER, Gross and Net rates become 0% beyond this limit.

Yes, to open a Business Savings Account, you must hold an ICICI Bank UK Business Current Account. This linked account enables smooth deposits, no-penalty withdrawals and transfers between the two accounts, ensuring straightforward management of business funds.

You need to open a Current Account to apply for a business Savings Account:

• Visit any of our UK branches and meet a Relationship Manager
• Email us at: uk.business@icicibank.com

You can download and complete the account opening form:

• For existing current account customers here
• For new customers here

You can manage your Business Savings Account through ICICI Bank UK branches or via Corporate Net Banking (CIB). This provides convenient access to balances, transactions, interest updates and transfers to your Business Current Account, supporting flexible and secure management.

ICICI Bank UK plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).

If you want to make a complaint, please contact us at:

Customer Relations,
ICICI Bank UK PLC,
2nd Floor, One Thomas More Square,
London – E1W 1YN
Or
Email us at ukcustomerrelations@icicibank.com

We will then arrange for a member of the complaints team to investigate and respond to you immediately.

ICICI Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

In respect of deposits, from 1st December 2025, an eligible depositor is entitled to claim up to £120,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £120,000 each (making a total of £240,000). The £120,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.fscs.org.uk or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.