Aldermore reaches £1bn in SME savings deposits
Aldermore is announcing today its SME savings business has surpassed the £1bn milestone in deposits. Since the Bank launched its savings proposition for SMEs in July 2012 more than 11,000 small and medium-sized business savers have opened an account.
The Bank offer a range of savings products for businesses including the award-winning Customised Fixed Rate Account, which allows customers to maximise the return on their savings with a fixed rate of interest until the exact date that they want their money back.
With time often the largest constraint faced by business owners, the Bank’s online accounts are designed to ensure that an account can be opened in under 15 minutes ensuring the customers can spend more time focussed on the success of their business.
Commenting on the news, Simon Healy, managing director for Savings at Aldermore, said: “At Aldermore we are committed to providing businesses with hassle-free and rewarding accounts. Innovation and transparency are key priorities and our customised fixed-rate account allows businesses to choose the maturity date on their savings, while our ratings and reviews feature allows customers to give their honest opinion on our products for anyone to view on our website.”
“Savings are an important part of any business. However, recent research conducted by the Bank found that just under a third of SMEs has a business savings account and therefore millions of SMEs are missing out on valuable interest payments. We want to ensure that business owners make any excess funds works just as hard as they do.”
