Our Verdict on Cynergy Bank Business Savings
You’re looking at a fully licensed UK bank with a complete savings range, not a single headline rate. Cynergy gives you easy access at 3.90% AER, notice accounts up to 4.00%, and fixed bonds up to 4.15%, all on one banking licence.
You’ll want Cynergy on your shortlist if you’re an established business with cash reserves to deploy. The attraction isn’t just the rate. Cynergy’s own banking licence gives your deposit a separate FSCS limit from deposits held with ClearBank.
Key Pros and Cons
The catch is the £10,000 minimum per account. With online-only access, that makes Cynergy a bank for firms with cash to deploy, not a startup parking a few thousand pounds or a business that wants a branch. If your reserve is smaller, we would send you to a lower-minimum instant-access account instead.
- Full range on one licence: easy access 3.90% AER, notice up to 4.00%, fixed bonds up to 4.15% AER.
- Fully licensed UK bank: FSCS to £120,000 on Cynergy’s own licence, independent of ClearBank.
- Strong easy-access rate with unlimited withdrawals and no fees.
- Notice and fixed options for cash you can plan around, up to £10,000,000 per account.
- £10,000 minimum per account: not for small balances.
- Online-only, with no branch access.
- Variable rates on easy access and notice; only the fixed bond locks in.
- Limited eligibility: sole traders, charities, clubs and trusts can’t open it.
Who Cynergy Bank Savings Is Best For
You’ll get the most from Cynergy if you’re an established company or partnership with £10,000 or more to put to work and want your savings held with a bank operating under its own banking licence. The full range lets you split a reserve into instant, notice and fixed pots from one provider.
A business with £150,000 in reserves could split it: £50,000 in easy access for payroll, VAT or unexpected bills, 120 days’ notice on another £50,000 at 3.95% AER, and the rest in a one-year bond at 4.15%.
Look elsewhere if you’re a sole trader, you have under £10,000 to deposit, or you need branch access. The minimum and the eligibility rules shut those readers out.
Cynergy Bank Savings Account Eligibility and Application
Who Can Open a Cynergy Bank Savings Account
Cynergy’s current business-savings eligibility lists limited companies, LLPs and partnerships, with the signatory 18 or over. Sole traders, charities, clubs and trusts are not currently listed as eligible, so check your structure before you start.
You also need a nominated business current account in the same business name, set up first. That account is where your deposits come from and where withdrawals return.
What You Need to Apply
Application is online, and you’ll need your company or partnership details plus identity and address verification for the directors, partners and significant shareholders. Cynergy runs the standard checks any deposit-taking bank has to.
You’ll fund the account from your nominated current account, and the minimum opening deposit is £10,000. For a fixed bond, you get a 14-day funding window to transfer the money in before the term locks.
Have your latest figures to hand if you’re asked, and decide your product split before you apply: easy access, notice or fixed. The account is managed entirely online, with no branch to visit.
Cynergy Bank Savings Account Fees and Pricing
Monthly Fees and Plan Options
You pay no monthly fee on any Cynergy savings account. The “pricing” of this product is its rate ladder: your choice of product, not a plan tier, sets what you earn.
Easy access pays 3.90% AER (variable). Notice accounts pay more for less liquidity: 3.90% at 95 days, 3.95% at 120 days, and 4.00% AER at 180 days. Fixed bonds run from 4.15% AER for one year to 4.10% over two, three and five years.
We would pick the product by how soon you’ll need the cash, not by the headline number alone. The highest rate locks your money away the longest.
Look at the last column before you tie any cash up. At today’s rates the 95-day notice account pays exactly the same 3.90% AER as instant-access easy access, so you surrender three months’ notice for nothing. Even 180 days’ notice adds only about £100 a year on £100,000.
The one clear premium is the one-year fixed bond at 4.15%, about £250 more than easy access on £100,000. The stronger argument for fixing is rate certainty rather than the relatively small £250 annual premium. On current pricing, we find the notice accounts hard to justify.
Transaction Fees and Charges
There are no transaction fees or withdrawal charges on the easy-access account, and no account fees on any product. Moving money in and out of easy access costs nothing, however often you do it.
The real cost is reduced access rather than a fee: on a notice account you wait out the notice period, and on a fixed bond you can’t withdraw before maturity at all. Plan your VAT and payroll buffers around that before you lock funds away.
Cynergy Bank Savings Features and Business Banking Tools
Invoicing and Expense Management
You won’t find invoicing or expense management here, because these are savings accounts, not a current account. Raising invoices and tracking spend stays with your main bank or your accounting software.
What you get is a simple place to hold cash and earn on it. You manage everything through online banking and the mobile app, moving money between products and your nominated account without paperwork.
If you need spend controls or card payments, pair Cynergy savings with your operating account rather than expecting them here. Keep the jobs separate: one account runs the business, these earn on the reserve.
Integrations and Accounting Software
Treat Cynergy savings as standalone deposit accounts rather than a hub that plugs into Xero or QuickBooks; there are no accounting integrations. The money sits with Cynergy and links only to your nominated current account.
For a business using Cynergy purely to hold reserve cash, the lack of accounting integrations may matter less than the rate, access terms and deposit protection. Your bookkeeping feed stays wherever your operating account already lives, so nothing about your month-end changes.
Interest is added straight to the savings account, not your current account: Cynergy calculates it daily and pays it into the account monthly.
Cynergy Bank Savings Card Usage and Payments
Spending, Transfers and Limits
These accounts have no spending card; they’re savings products, so money moves by transfer. Everything routes through your nominated business current account in both directions.
On easy access you can make unlimited withdrawals at any time through online banking, with no fee. On a notice account you submit a withdrawal request and the funds release after 95, 120 or 180 days. On a fixed bond, there’s no access until the term ends.
Easy-access withdrawals need no notice period and return through your nominated business account. Deposits run from £10,000 up to £10,000,000 per account, so there’s ample headroom for a sizeable reserve.
Overseas Payments and FX Fees
These savings accounts make no overseas payments, and there are no FX fees to weigh because they don’t handle foreign currency.
If you settle foreign-currency invoices, keep a dedicated multi-currency account such as Wise or Revolut for that and use Cynergy only to earn on spare sterling.
Cynergy Bank Savings Customer Reviews and Ratings
Weigh Cynergy’s reputation from two angles, and keep them apart. Bank-wide, it holds 4.4 out of 5 on Trustpilot from about 5,900 reviews when we checked on 14 August 2026. That is a strong score for a specialist bank. It covers the whole bank, though, not the savings accounts alone.
For the savings product itself, Smart Money People shows 4.63 out of 5, but from only 35 reviews. We read that as a positive but thin signal. The app scores lower in the stores too, with reviewers citing login friction we would not pin on one cause.
Read together, we see a bank that does the core job well. When your VAT and payroll buffers have to sit somewhere safe and earn for months, we would give more weight to the savings terms and deposit protection than to app polish.
Alternatives to Cynergy Bank Business Savings
Allica Bank is the closest like-for-like alternative. It offers notice accounts and fixed bonds for limited companies, with a £20,000 minimum and FSCS protection on its own banking licence.
We would pick Allica when the notice or fixed rate is higher than Cynergy’s at the time you apply. The two banks serve the same profile: established firms with cash reserves and no need for branch access.
Tide Instant Saver suits a different reader: sole traders and smaller businesses with under £10,000 to deposit. Access is instant and the minimum is lower.
Tide’s savings sit behind ClearBank rather than a dedicated banking licence. If you already hold savings with Tide’s current account, your combined ClearBank exposure shares one £120,000 FSCS limit. Cynergy avoids that concentration.
Recognise Bank is worth a look if you want a fixed-term bond from a specialist SME lender. Its minimums and rates differ from Cynergy’s, so compare the current terms before you choose.
Final Verdict
Cynergy Bank sits in a distinct niche: a fully licensed UK bank with a complete rate ladder and FSCS cover on its own licence, independent of the ClearBank pool.
That independence is what sets it apart. It is not that Cynergy is “safer”: every account here is FSCS-protected to £120,000. The point is which authorised bank your deposit counts against, because the £120,000 limit applies per bank, not per account.
A company holding £150,000 with Cynergy would have £30,000 outside the £120,000 FSCS limit, so it might spread the rest across another authorised bank. If you already save with Tide or Capital on Tap, moving eligible deposits to Cynergy gives them a separate £120,000 FSCS limit instead of crowding the shared ClearBank one.
The trade-off is entry. The £10,000 minimum per account and limited-company/LLP/partnership eligibility rule out sole traders and early-stage businesses regardless of the headline rate.
Best for: Established limited companies and partnerships with £10,000-plus to deploy, wanting the full range of savings products on its own banking licence, separate from ClearBank-backed rivals.
Watch out for: Variable rates on easy access and notice accounts; £10,000 minimum; sole traders excluded; no accounting integrations or branch access.
Consider instead: Allica Bank for a competing notice rate (also limited companies, £20,000 minimum); Tide Instant Saver for lower minimums and sole-trader access.
FAQs
What interest rates does Cynergy Bank business savings pay?
As of August 2026 (verified from cynergybank.co.uk): the Business Saver (easy access) pays 3.90% AER / 3.83% gross (variable). The Business Notice Saver pays 3.90% AER at 95 days, 3.95% at 120 days and 4.00% at 180 days. The Business Fixed Rate Bond pays 4.15% AER for one year and 4.10% AER over two, three and five years. Easy-access and notice rates are variable; the fixed bond locks your rate for the term. Rates may have changed; confirm before opening.
Is Cynergy Bank business savings FSCS protected, and on whose licence?
Yes. Cynergy Bank plc is a fully licensed UK bank, authorised by the PRA and regulated by the FCA and PRA (FRN 575105). Eligible deposits are FSCS-protected up to £120,000 per eligible depositor on Cynergy’s own banking licence. That makes your protection independent of fintech savings accounts such as Tide and Capital on Tap, which both sit behind ClearBank and share one £120,000 limit. Verified from the FCA register and fscs.org.uk, August 2026.
What is the minimum deposit for Cynergy Bank business savings?
The minimum opening deposit is £10,000 per account, with a maximum of £10,000,000. This applies across the easy-access, notice and fixed-bond products. It makes Cynergy a fit for established businesses with cash reserves rather than for a startup with a few thousand pounds to park. Verified from cynergybank.co.uk, August 2026.
Can sole traders open a Cynergy Bank business savings account?
No. The accounts are open to UK limited companies, LLPs and partnerships only. Sole traders, charities, clubs and trusts are not eligible, and you must open from a nominated business current account in the same business name. If you trade as a sole trader and want instant-access business savings, Tide Instant Saver accepts sole traders. Verified from cynergybank.co.uk, August 2026.
Is Cynergy Bank the same as Bank of Cyprus UK?
Cynergy Bank is the rebranded former Bank of Cyprus UK, which became Cynergy Bank in 2018 under new ownership. It is now an independent UK bank focused on business and professional customers, authorised by the PRA and regulated by the FCA and PRA (FRN 575105). Your deposits are protected by the FSCS up to £120,000. Verified from cynergybank.co.uk and the FCA register, August 2026.
How we reviewed Cynergy Bank Business Savings
What we assessed. We evaluated Cynergy Bank business savings on the rate each product pays, access terms, minimum deposit, fees, eligibility and deposit protection: the factors that decide whether a cash reserve works harder here than elsewhere.
Data sources. Rates and terms were checked product-by-product on cynergybank.co.uk in August 2026, with the banking licence cross-referenced on the FCA register (Cynergy Bank plc, FRN 575105) and the FSCS limit confirmed at fscs.org.uk. No comparison sites or aggregator data.
Update cadence. We re-verify this page when Cynergy changes its rates, terms or eligibility, and the verification date reflects the most recent full review. BusinessExpert does not earn commission from Cynergy Bank; see our editorial policy.