Aldermore increases rates on range of savings products

POSTED: 25th February 2022
IN: Newsroom

Aldermore bank has today increased the rates on a range of its fixed rate and individual savings account (ISA) products, providing savers with choice for their medium- and longer-term savings goals.

Our Fixed Rate Savings accounts provide competitive long term rates that protect your hard earned money from interest rate fluctuations so you’ll always know exactly how much interest you’ll earn:

  • 2 Year Fixed Rate will increase from 1.50% to 1.70%
  • 3 Year Fixed Rate will increase from 1.65% to 1.85%
  • 4 Year Fixed Rate will increase from 1.67% to 1.90%
  • 5 Year Fixed Rate will increase from 1.70% to 2.10%

Our Fixed Rate Cash ISAs give you guaranteed interest rates over a choice of fixed terms, and the interest you earn is tax free and doesn’t count towards your Personal Savings Allowance:

  • 2 Year Fixed Rate ISA will increase from 1.25% to 1.35%
  • 3 Year Fixed Rate ISA will increase from 1.40% to 1.45%


Ewan Edwards, director of savings, Aldermore comments:
“With the cost of living on the rise, Aldermore is committed to supporting savers by providing competitive rates to help them achieve their savings goals. With the end of the tax year approaching, it’s an ideal time to sit down and review finances, to set out both short, medium, and long term savings targets whilst considering how best to achieve them. 

“Finding the right timeframes for your savings goals is a useful habit to ensure the best returns are achieved. People will have many plans for the future, so it can be advantageous to split savings into smaller pots and put them into different products that suit the timings for reaching those goals. This will also encourage people to regularly review their savings so they can continue to update the products they’re using with each new savings goal allowing their hard-earned cash to work as hard as possible.”

ENDS

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