Close

SMEs are missing out on millions in lost business savings interest

POSTED: 25th June 2015
IN: Guides
Share:

New research by Aldermore Bank revealed that 23 per cent of SMEs receive no interest at all on their business’ savings – find out more.

undefinedSMEs could be missing out on millions of pounds of savings interest due to a lack of knowledge surrounding business savings accounts.

In fact, new research by the Bank revealed that 23 per cent of SMEs receive no interest at all on their savings, while almost a quarter don’t know what interest rate their business currently receives.

The research also found that many SMEs are failing to shop around in order to get the best deal, while around 40 per cent of companies hold their surplus funds in their current account rather than a business savings account.

SMEs that take time to research the variety of accounts available to them could benefit from higher rates of interest, which is why Aldermore Bank has recently launched an SME rate checker to allow time-poor SMEs to access the information they need to make the best choice for their funds.

The infographic below looks in further detail at the results of the Aldermore research. 

undefined

To learn how business savings accounts can help SMEs to grow their funds over time, please get in touch with the team at Aldermore. 

The content published on this website is intended to provide information only. The reader should seek advice from experts on the subject matter and independently verify the accuracy and relevance of any information provided here before relying upon it or using it for any reason. You can view our terms and conditions here.

Want to read more?

Related Links

  • Finance
  • Business
  • SME
  • Business Savings
  • Guide
  • Finance

Published: