Redwood Bank has launched a new one year business savings bond with a rate of 1.62%.
Fixed for a year, it is claimed that the rate guarantees a substantial return, provided that at least £10,000 is paid in on opening.
Applications for the account can be made either online or by post and, once open, interest will be earned from day one.
The account can be managed either online, by phone, email or post.
Interest is calculated daily and can be paid into the account either monthly or annually, depending on the account holder’s preference.
Gary Wilkinson, CEO and co-founder of Redwood Bank (pictured above), said: “As a business-focused bank, we work hard to reward our business savers and believe our 1.62% rate will do just that.
“With customer satisfaction levels at more than 90%, we already know that our customers love what we do, so we’ve just given them another good reason to continue to invest with us.”
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