Cynergy Bank enhances business current account with competitive 3.5% AER
Cynergy Bank has enhanced its competitive Business Current Account, by increasing interest rates.
Cynergy Bank’s enhanced Business Current Account provides a strong alternative to traditional banks with a competitive interest rate of 3.50% AER variable paid on deposits up to and including £10,000, and 0.10% AER variable thereafter. Cynergy’s aim is to serve the SME market across the UK, offering them a more rewarding and competitive everyday banking solution. Customers can apply for the Business Current Account via a simple digital application process and then manage their accounts using Cynergy Bank’s recently-updated online banking platform and App.
The Business Current Account is available to eligible UK businesses, including sole traders, partnerships, limited liability partnerships and limited companies, with up to 10 named individuals including Partners, Directors, and shareholders.
Cynergy Bank’s Business Saver Account also offers 3.50% AER variable paid on deposits up to and including £10,000,000. Any balance above £10,000 in the current account could be put into the complementary savings account.
Cynergy Bank is redefining business banking with a growing range of tailored financial solutions designed to meet the needs of modern businesses. By combining technology with a personal touch through its ‘human digital’ approach, the Bank is challenging traditional mid-market providers and supporting scale-up businesses on their growth journey.
The updated Business Current Account complements Cynergy Bank’s recent partnership with Brentford FC by reinforcing its support for ambitious businesses. As the partnership focuses on performance and growth, the 3.50% AER offering provides a practical financial benefit to SMEs looking to make more of their everyday banking.
The Cynergy Bank Business Current Account complements the bank’s existing range of products designed to serve the complex needs of business customers, including its competitive Business Saver paying 3.50% AER monthly.
Nick Fahy, chief executive of Cynergy Bank, said: “We’re committed to supporting UK SMEs with products that deliver real value. Introducing 3.50% AER on our Business Current Account helps businesses make more of their working capital at a time when every advantage counts. We are encouraging growth, helping to make their money go further. This move, alongside our partnership with Brentford FC, reflects our focus on performance, ambition, and supporting growth.”
For a limited time, new Cynergy Bank Business Current Account openings are fee-free for the first 12 months and £5 per month thereafter. Additional features include a VISA debit card with contactless payment up to £100, accounts available in three currencies (GBP, EUR, USD) and the ability to pay into accounts at any UK branch of HSBC.