Redwood Bank has introduced its latest savings accounts for businesses and charities .
The newly launched business bank's 35-day notice account offers 1% AER while its 95-day notice account offers 1.35% AER.
Both accounts have a starting balance of ?£10,000, with a maximum balance of ?£1m.
The savings accounts are available to businesses, charities, clubs, associations and societies, and can be opened online or by post.
â€œWe aim to offer simple, straightforward and competitive savings accounts that reward British organisations who save,' said Gary Wilkinson, co-founder and chief executive officer at Redwood Bank (pictured above).
â€œBy increasing the interest rates on our accounts, we are delighted to now be at the top of the best buy tables, earning businesses tangible interest on their savings.
â€œOur mortgages for professional landlords and businesses have been warmly welcomed by the market since we launched in August and our lending business is growing.
â€œAs a result, we are pleased to be able to share this success with our business savers too, who can now earn a top rate, while receiving great service and a promise that our money is being reinvested into British businesses and local communities."
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Modulr to create over 30 new jobs in Scotland
Modulr has completed its latest funding round led by digital venture builder Blenheim Chalcot, which takes the latter’s total investment in the payments fintech to £10.5m...
Specialist banks answer need for products that ‘reflect the reality of today’s society’
Better service and products are the main reasons why a broker would use a specialist bank, according to the latest poll by Specialist Banking...
Leeds Building Society cuts rate on retirement interest-only mortgage
Leeds Building Society has reduced its five-year fixed rate on its retirement interest-only mortgage...
60% of people want to know where their money is invested
Six out of 10 people (60%) want to know where their money is invested, according to the latest research published by Charity Bank...
Why commercial banks are in danger of being left behind
Harnessing a customer-first, technology-led approach, retail banks are paving the way with innovation...
Aldermore supports Quba Solutions with £10m facility
Aldermore has provided a £10m finance facility to Dorchester-based Quba Solutions...
TSB announces new SME banking leadership team
TSB has revealed its new SME banking leadership team as it prepares to launch its business banking proposition later this year...
Paragon Banking Group expects 25% BTL pipeline growth
Paragon Banking Group has announced that its BTL pipeline at 30th September 2018 is expected to be more than 25% higher than the level reported at the same time last year...
Development Bank of Wales moves into new Wrexham HQ
The Development Bank of Wales has opened its new headquarters in Wrexham at Yale Business Village...
Metro Bank announces opening date for Bristol store
Metro Bank has revealed the opening date for its first Bristol store...
Bremer Bank partners with automated lending platform
Bremer Bank has announced that it will be partnering with Numerated to launch an automated lending platform...