The savings market is broken it’s time to demand change

Small businesses lose out on £9 billion a year in savings interest because banks aren't offering them the interest rates their hard work deserves.

We want to fix the savings market and get small businesses the money they deserve. We’re calling for change in the business savings market and want government and regulators to…

  • End the SME savings penalty – get banks to start offering small businesses the same savings rates as big firms.
  • Notify SMEs of better rates – banks should actively notify their SME customers of what the top 3 rates in the market are.
  • Increase protections for SME deposits – give small firms confidence to save large amounts with all banks, by raising limits for the small business Financial Services Compensation Scheme.

Sign our petition to help make change happen.

Sign the petition!

Together we can fix the business savings market.

Millions of SMEs are getting ripped off when it comes to their savings. Join me and Allica Bank in helping businesses get better rates on their savings! Sign the petition

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What’s broken? 

High street banks are keeping billions from small firms through a broken business savings market.

Our updated research for 2024 has found that SME owners are due more than £9 billion a year in ‘missing’ savings interest.​ It’s time banks gave SMEs a better deal on their hard-earned savings.​

Read our research to find out more.

Download 2024 update Download 2023 report

£126 billion

of SME deposits are sitting in accounts that offer zero interest

Interest rates

Banks systematically offer larger companies better savings interest rates than they offer SMEs 

3% lower interest rates

Average savings interest rates are 3% lower for SMEs compared to rates offered to large firms 

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What we want

We want to fix the broken savings market.​ Small firms are the lifeblood of our economy and local communities, creating half of all jobs and economic activity across the country. ​

But because there’s no transparency in the savings market, small firms are getting ripped off and not getting the interest they deserve on their hard-earned savings.

It’s time for the government, regulators and politicians to end the lack of transparency in the business savings market and make change happen.

Sign up to show your support. The more individuals and businesses who sign up the louder our voice will be.

Let's fix this

​End the SME savings penalty

Get banks to start offering small firms the same savings rates as big firms. 

Notify SMEs of better rates

Banks should actively notify their SME customers of what the top 3 rates in the market are.

Increase protections for SME deposits

Giving small firms confidence to save large amounts with all banks, by raising limits for the small business Financial Services Compensation Scheme.

Who we are

We are a coalition of partners coming together to help drive change for small business savings. The ‘Great British Savings Squeeze’ campaign is organised by Allica Bank in partnership with:

If you’d like to become part of the coalition, get in touch with us at savingssqueeze@allica.bank.

What our supporters say

"It's time SMEs got a fair deal on their savings, after all the least any bank should be doing is offering a decent savings rate to SMEs. Britain’s army of small firms have enough on their plates without having to worry about the rates they’re getting on their hard-earned savings."

Craig Beaumont

Chief of External Affairs, Federation of Small Businesses (FSB)

"Britain’s hard-working SMEs deserve to be supported – including by their bank. It’s a tough economy out there to survive as a small business, so it's vital SMEs are getting decent interest rates on their hard-earned savings."

Dr Roger Barker

Director of Policy at the Institute of Directors

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Monthly Savings Tracker

Our Monthly Savings Tracker is published monthly to monitor how the big six banks are changing the rates they’re offering to SMEs over time. We then compare this to the best rates available on the market from challenger banks.

Launched in April 2024, see the latest Monthly Savings Trackers here:

As seen in
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