New customers

Please make sure you have read the Easy Access Account Summary Box and Business Savings Terms and Conditions


Existing customers

Log in to open a new account.

What is the interest rate?

Interest rate (AER*)

3.25%

Gross monthly interest

3.20%

Gross annual interest

3.25%

Minimum opening balance

£1,000

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

Interest is calculated daily, and paid monthly or annually. You can choose to have your interest paid to either your Easy Access Account or your nominated UK bank or building society account.

Product summary

Yes, the interest rate is variable. We can increase or decrease the rate for any of the reasons set out in our Business Savings Terms and Conditions.

Deposit at account opening Balance at end of term Interest earned
£1,000.00 £1,032.50 £32.50
£75,000.00 £77,437.50 £2,437.50

These are only examples and do not take into account your individual circumstances.
The examples assume that no further deposits or withdrawals are made and that interest earned is paid to this account at maturity.

  • To open an account you must be a UK-based business, where all directors and beneficial owners of that business are aged 18 or over, resident in the UK and only tax resident in the UK
  • Business Savings does not accept client money nor provide accounts to be held in trust, and our accounts cannot be held by US Persons
  • You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service by secure message, by telephone or by post
  • The minimum deposit required to open this account is £1,000
  • The maximum balance for this account is £1,000,000
  • You can make additional deposits at any time
  • You can close your account at any time without any penalties or notice

Yes, you can make unlimited fee-free withdrawals to your nominated account or transfers to any other Business Savings accounts you hold with us that allow deposits.

  • *AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year
  • Interest is paid gross without the deduction of income tax

To view all current and previous rates for our business savings accounts variable rate products, please click here

Eligibility

You need to be a UK-based Limited Company, Limited Partnership, Limited Liability Partnership, Partnership or Sole Trader (we don’t provide accounts for clubs, societies or charities).

To be eligible to open a Business Saving account, the controlling person and all significant owners need to be resident in the UK, over 18 years of age and only tax resident in the UK. Our accounts cannot be held by US Persons.

Your business needs to be based in the UK, only tax resident in the UK and have no trustees or accounts held in trust.

Please make sure you have internet access, because all of our business savings accounts are online accounts and are opened and managed online.

Business owner looking out of shop window

Opening an account

You'll need this information to hand:

  • Company registration name or number
  • Your business details – name and full address including postcode
  • The sort code and account number for your business current account. We may ask you to send us a bank statement to confirm your account details. We can’t accept an account held with an e-money provider as your linked nominated account
  • Name, full address including postcode, and date of birth for all business owners (please enter the postcode without spaces)

Your business needs to be:

  • Based in the UK and only tax resident in the UK
  • Have no trustees or accounts held in trust, and not be a club, society or charity

You and any other owners who control more than 25% of the business need to be:

  • Over 18
  • A resident in the UK and only tax resident in the UK
  • Not a US citizen (including residents, green card holders or a US person based on your worldwide income)
Clothes shop workers looking at laptop

Business savings easy access account FAQs

To open a business account with us you must be:

  • A limited company, limited partnership, limited liability partnership, partnership or sole trader (we don’t provide accounts for clubs, societies or charities)
  • A business that is only tax resident in the UK
  • Over 18 years of age, UK resident and only tax resident in the UK - this applies to all controlling persons, significant owners and directors
  • You can't be a US citizen
  • You need to own a mobile phone and have an email account

 

When you apply to open an Aldermore account you must give us details of a current account in your business’s name. We call this your linked nominated account. Your business current account provider must be a UK bank or building society, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Your business current account must allow electronic transfers to be made and received, and we may ask you to send us a bank statement to confirm your account details.

There are certain types of bank account that we can’t accept as your linked nominated account, as they aren’t fully licensed and regulated. These include accounts held with e-money providers.

We can't accept client money or hold accounts in trust.

We need to check your identity and address before we can open an account for you. This will mostly be done electronically, but we may need you to send some identification to us.

If we ask you to provide identification documents, we'll include details about how to do this when we get in touch.

Yes, you'll have 14 days from the day you open your fixed rate account to close it without any penalties or giving us any notice.
If you've opened an easy access account you can close it at any time with no notice or penalties.

If you’re applying for an account and we can’t complete our electronic checks we may ask you to send us some documents to help us confirm your identity.

This will normally be one proof of identity from List A and one proof of address from List B for the directors and business owners. Please note we can't accept originals for documents marked with an *, you’ll need to send us certified copies of these.

List A - Proof of identity

  • Valid UK Passport*
  • Valid UK Driving Licence* - photo card, full or provisional
  • Valid Non-UK passport* or National ID Card*
  • HM Forces/Police Warrant Card
  • Firearms certificate or shotgun licence
  • Identity card issued by the Electoral Office for Northern Ireland
  • Letter from Benefits Agency/other Government Agency confirming a right to or receipt of state benefits/tax credits. Issued within the last 6 months or valid for current tax year
  • HMRC document such as tax notification/tax assessment/statement of account/notice of coding/NI contributions bill. Issued within the last 6 months, or valid for the current tax year, P45s and P60s aren’t acceptable.

List B - Proof of residential address

  • Valid UK Driving Licence* - photo card, full or provisional (if not used in list A), or an old-style paper
  • Current bank or credit/debit card statement issued by a UK regulated financial sector firm and less than 90 days old – includes bank or building society savings books
  • Current mortgage statement issued by a UK regulated financial sector firm, the latest statement issued within last 12 months
  • Utility bill or landline telephone bill showing the landline number, as quoted on the application, and less than 90 days old
  • Council Tax Bill for the current financial year
  • Letter from Benefits Agency/other Government Agency confirming a right to or receipt of state benefits/tax credits (if not used in list A). Issued within the last 6 months or valid for current tax year
  • HMRC document such as tax notification/tax assessment/statement of account/notice of coding/NI contributions bill (if not used in list A). Issued within the last 6 months, or valid for the current tax year, P45s and P60s aren’t acceptable.

Yes. When you save with Aldermore you have the added peace of mind that comes from knowing your money is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Please bear in mind that any deposits you have above the limit are unlikely to be covered.