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.
“We 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).
“By 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.
“Our mortgages for professional landlords and businesses have been warmly welcomed by the market since we launched in August and our lending business is growing.
“As 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.”
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