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Shawbrook Bank reveals new business savings account as part of revamped SME proposition

Sam Monk | 16:49 Wednesday 20th November 2019

Shawbrook Bank has announced a new business savings easy access account as part of the wider launch of its revamped SME savings proposition.

Business customers will now be given a greater range of savings products to choose from, while new applications will benefit from an improved rate of 1.51% on Shawbrook’s existing 100-day notice account.

The new business savings easy access account has an interest rate of 1.05%, while the minimum deposit to open an account will be £1,000.

The maximum balance on each account will be £1m. 

The accounts will be made available to sole traders, partnerships and limited companies based in the UK.

Shawbrook’s new and improved, digitalised customer journey will now also make it easier for businesses to manage their money on a regular basis.

Julian Hynd, chief operating officer at Shawbrook Bank (pictured above), said: “These new developments represent a natural evolution of our savings proposition and show that we remain fully committed to being the UK’s leading, specialist business bank.

“What we have found from our customers and from wider market research is that SMEs want more choice, more flexibility and better accessibility when it comes to saving.

“We have, therefore, created a proposition that tries to cater to those needs and removes the headaches or frustrations that businesses feel when it comes to managing their money.”

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