Fixed Rate Accounts

A guaranteed rate on your savings over a choice of terms. You'll enjoy peace of mind knowing exactly how much interest you'll earn day in, day out.

  • 4.6/5 (306 reviews)

Average review for all our Fixed Rate Accounts products

Open a Fixed Rate Savings Account with Aldermore Bank today. It’s easy, convenient and secure.

Our Fixed Rate Accounts

Term
Gross Annual Interest
Gross Monthly Interest
AER*
Term
6 Months
Gross Annual Interest
1.49%
Gross Monthly Interest
1.49%
AER*
1.50%
Term
1 Year
Gross Annual Interest
1.75%
Gross Monthly Interest
1.74%
AER*
1.75%
  • Competitive rates of interest with no tricks, gimmicks, bonuses or introductory offers to keep an eye on
  • Fast and simple online account opening - open an account, complete identity checks and arrange to move money in just 15 minutes, leaving you free to focus on your business
  • Available to UK businesses without the need to change your existing bank current account
  • Safe and secure online banking 24/7 - do it online anytime, anywhere
  • UK based expert telephone support - our UK based customer service team are available at a time to suit you
  • 14 Day cooling off period - if you change your mind within 14 days of funding your new business savings account we'll be happy to refund your savings
  • Easy to add or remove names or change user levels
  • Open an account with just £1,000
  • No fees or charges for day to day services 
  • Rate Guarantee - Your account comes with a 14 day rate guarantee, to benefit from this please send your deposit within this time.
    This way if we have increased our rates by the day we receive your deposit, we'll pay you the higher rate without you even having to ask! (After this time we will pay the prevailing rate).
  • Once you've made your opening deposit You have 30 days in which to make your initial deposit. Once you have done so you have a further 14 days to put more money into your account and benefit from the same interest rate. After this date any additional deposits must be placed into a new Fixed Rate Account at the interest rate offered at the time.
  • You should keep at least £1,000 in your account at any one time. An interest rate of 0.05% AER is payable on balances below £1,000.

 

What you'll need to open your account in just 15 minutes:

  • A UK-based business, where all directors, owners and account users are aged 18 or over, resident in the UK and only liable to pay tax in the UK
  • Your business details (name, address and if you have one, your company registration number)
  • The sort code and account number for your business bank or building society account. The account must allow transfers to be made and received electronically and will be known as your nominated account. Your nominated account is the only source from which you can transfer money into your Aldermore account
  • A mobile telephone that can receive text messages. This is how Aldermore will send you your account password and without it you will be unable to log into your account
  • Internet access, as all of our business savings accounts are open and managed online
  • We do not provide accounts for client money or accounts to be held in Trust.

No withdrawals or closures before the maturity date. In cases of severe financial hardship funds may be released on an individual basis, this will be subject to a 180 day deduction of interest for the 1 Year Fixed Rate Account and 90 day deduction of interest for the 6 Month Fixed Rate Account. To view full terms and conditions please click here

Managing your account with us is simple and straightforward. Check our Key Features for more information on how your account works.

Fees and Charges

You won't have to pay any fees or charges, although there may be a small charge for non-standard services - check our tariff of charges for more detail.

Managing your account is simple and straightforward and we're always on hand to help if you have any questions. Here's how it works.

Once you've opened your Business Savings Account with us we'll send you everything you need to make a deposit and operate your account.

You have 30 days to fund your account once you've opened it. However, to guarantee the rate advertised (or higher) you will need to fund your account within 14 days.

Your Nominated Account
Your nominated account is the UK business bank or building society account you register with us when you open your Aldermore account and is the only source from which you can transfer money into your Aldermore account.

To transfer money, simply contact your bank or building society and ask them to transfer the amount you require (deposits can be made by Faster Payments, BACS, CHAPS or Standing Order).

You will need to provide your Aldermore Business Savings Account number (once you’ve opened your account, you’ll find this 8 digit number on the first screen in Internet Banking, under 'accounts'), Sort Code (23-33-43) and Beneficiary/Payee Name (your business name).

Change Your Password
You can change your password by logging in to your account with the details provided and select the Settings link.

Reset Your Password
If you've forgotten your password you can reset it in minutes. Simply go to the Internet Banking login page and select 'Reset password'.
Add and Remove Users
It's easy to add or remove names or change the user levels on your account by simply selecting the 'Manage Users' link.

Make Changes to Your Account
You can update or amend most information relating to your account online. We may ask you to send us supporting documentation by post or email once a change has been requested.

Statements
Your statement will be available via Internet banking as a PDF that you can both print and save.

View Account History
You can view transactions on your account right back to the time you opened the account, simply log in to your account and select the Account History.

On Maturity
Your account will mature on the anniversary date we receive your money. We'll contact you personally a few weeks earlier with a simple, easy to understand guide to your maturity options. If you do not advise us of your maturity instructions your account will roll into another Fixed Rate Account of the same term or similar term.

Contact Us
Contact us whenever you need to via:
Our UK-based call centre on 01733 821 321. (We know you're not tied to your desk. So when you call us on your mobile we've made sure you can talk to us at a local and not a premium rate. Just another way we put you first). We are open 8am-8pm, Monday to Friday, excluding Bank Holidays. Calls may be recorded for training and monitoring purposes.

By emailing us at businesssavings@aldermore.co.uk

Tax Depending on your business type we may be obliged to deduct tax at source. For further guidance we would suggest consulting your tax adviser or the HM Revenue and Customs at www.hmrc.gov.uk
Interest payments Interest is calculated on a daily basis and is paid monthly, annually or on maturity. It can be paid to your savings account or your nominated account
Term of account 1 Year, 6 Months
Minimum deposit £1,000
Maximum deposit £1m. Please contact us on 01733 821 321 if you would like to make a deposit in excess of £1m.
We are open 8am-8pm, Monday to Friday, excluding Bank Holidays. Calls may be recorded for training and monitoring purposes.
Minimum balance £1,000 an interest rate of 0.05% AER is payable on balances below £1,000
Initial deposit All deposits must be received within the first 30 days of the account being opened, as we will not be able to accept any further deposits after this time. If funding is not received the account will be closed
Additional deposits Once you've made your opening deposit you have a further 14 days to put more money into your account and benefit from the same interest rate. After this date any additional deposits must be placed into a new Fixed Rate Account at the interest rate offered at the time
Rate guarantee Your account comes with a 14 day rate guarantee, to benefit from this please send your deposit within this time. This way if we have increased our rates by the day we receive your deposit, we'll pay you the higher rate without you even having to ask! (After this time we will pay the prevailing rate)
Cooling off period If you change your mind within 14 days of opening your business savings account we will cancel your account. No notice periods or penalties will apply
Withdrawals No withdrawals or closures before the maturity date. In cases of severe financial hardship funds may be released on an individual basis, this will be subject to a 180 day deduction of interest for the 1 Year Fixed Rate Account and 90 day deduction of interest for the 6 Month Fixed Rate Account
Paying money in

From your nominated account only, by the following methods: BACS, Faster Payments, Standing Order, CHAPS. Payments by cheques are not accepted.
You will need to provide your Aldermore Business Savings Account number (once you’ve opened your account, you’ll find this 8 digit number on the first screen in Internet Banking, under 'accounts'), Sort Code (23-33-43) and Beneficiary/Payee Name (your business name)

Payment of interest Paid to your account or to a nominated UK bank or building society account in your business name
Statements Available via Internet banking to print and save
Account maturity We will contact you shortly before your account matures with a guide to all the maturity options. If you do not advise us of your maturity instructions your account will roll into another Fixed Rate Account of the same term or similar term
How to operate your account Online but our UK experts are on hand if you need to call them

 

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Latest Rating and Reviews

1 Year Fixed Rate Savings Account

Better than nothing..........I suppose

My business account was producing 0% interest so moved a chunk to get at least a little interest. That is what it is............a little. No bonuses or anything like that which the bankers get. Just a little bit of interest that is less than inflation. Steady!

5th December 2014 si1ver

1 Year Fixed Rate Savings Account

Perfect for my needs

Great service, I had a few questions and they we answered very quickly.

3rd December 2014 Coyote

1 Year Fixed Rate Savings Account

Straightforward and easy

Because my husband had invested an aunt's legacy some years ago, he rang up to see if our charitable registered company would be acceptable to Aldermore as an interest-earning receptacle for a recent legacy of our own. This was fine and with the help of one of the staff on the telephone (the on-line form kept timing out while we thought through the options) we were finally able to open our account within a ten minute call. Wonderfully easy and friendly. Thanks!

1st December 2014 Melissa74

1 Year Fixed Rate Savings Account

Quick and Easy

Chose this account on the basis of it's ease of opening and interest rate. Not disappointed - the interest I earn makes it worthwhile and offsets my current bank's recently introduced account fee of £5.50 per month

28th November 2014 dauphine

1 Year Fixed Rate Savings Account

Very slick online service to open an account

Impressed by Aldermore's online account application, other banks should take note.

28th November 2014

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