New customers

Please make sure you have read the Fixed Rate Account Summary Box and Business Savings Terms and Conditions

Existing customers

Log in to open a new account.
Summary box Opening an account FAQs Documents

What is the interest rate?

Interest rate (AER*)

4.05%

Gross monthly interest

3.94%

Gross annual interest

4.01%

Minimum opening balance

£1,000

Term

6 months

*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 at maturity. You can choose to have your interest paid to either your Fixed Rate Account or your nominated UK bank or building society account.

Product summary

No, the interest rate is fixed and will not change for the term.

Deposit at account opening Balance at end of term Interest earned
£1,000.00 £1,020.00 £20.00
£75,000.00 £76,499.63 £1,499.63

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
  • If you change your mind within 14 days of opening your account you can close your account without penalty or notice
  • No withdrawals, transfers out or closures permitted before the maturity date
  • In exceptional circumstances we may permit early withdrawals from or closure of the account prior to the maturity date but this is at our discretion, subject to evidence we will request, and we are not obliged to do so. In the event that we grant permission, we may deduct 90 days’ interest as a condition
  • We will contact you 21 days before your account matures detailing your options and enabling you to give us your maturity instructions. An additional reminder will be issued around 14 days prior to your account maturing
  • 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
  • We will contact you at least 21 days before your account matures detailing your options and enabling you to give us your maturity instructions
  • An additional reminder will be issued around 14 days prior to your account maturing
  • If you do not advise us of your maturity instructions at least two days before the maturity date, your account will roll into another Fixed Rate Account of the same term or similar term
  • *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
Apply now for a 6 month fixed rate business savings account

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.

Office meeting
Existing customers - log in to your account to apply

Fixed rate business savings accounts 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.

You can make payments from your linked nominated account, using one of the following options:

CHAPS
Faster payments
BACS
Standing order

We don't accept cheque or banker's draft payments.

These are the details you'll need when making a deposit:

Account number: Your Aldermore business savings account number (you can find this 8 digit number on the first screen of internet banking listed under accounts)
Our sort code: 23-33-43
Beneficiary name: Your business name
Payment reference: You can choose your own, although we suggest Aldermore Business Savings.

If you have an existing Aldermore business savings account that allows transfers, you can also move money to your new account. Log into internet banking and click on the account that you want to transfer money from selecting the 'Transfer Between My Accounts' link.

For Fixed Rate accounts you have 14 days to make your first payment to benefit from the rate guarantee.

Please be aware that we don't use confirmation of payee. If you're paying money in from a bank account that does use this service, payments to your Aldermore account will show confirmation of payee unavailable. This doesn't mean your deposit has been unsuccessful or stop you paying in. If you're in any doubt, always check with your bank.

When you open an account with us you set the frequency that we pay your interest to monthly, annually or at maturity. You can't change this once the account’s opened.

At account opening you can also choose to have your interest paid to the account, your linked nominated bank account or your Easy Access Account if you have one. You can change where the interest goes at any time in internet banking.

We calculate interest daily on your cleared account balance.

No, we don't apply any fees or charges for standard account services. We may charge you for any exceptional, non-standard services which are available on a discretionary basis.

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