Cynergy Bank announces launch of business saver

Cynergy Bank is pleased to announce the launch of Business Saver, their new business savings account, now available for new and existing customers.

Business Saver has been designed specifically to serve the deposit needs of businesses, with the aim of minimising complexity and hassle for business owners.  Account holders can deposit up to £10m at a competitive variable rate starting at 3.25% AER that will be paid monthly, enabling account holders to also manage their money entirely online.

Using the latest technology, the account opening process has been streamlined and applicants can open an account in as little as ten minutes. Business Saver is open to all eligible UK businesses, including sole traders, partnerships, limited liability partnerships and limited companies, with up to 10 directors.

Businesses of all sizes have demonstrated resilience over the last few years despite being particularly vulnerable to global issues such as supply chain disruptions and record-high inflation. As costs remain high, it’s more important than ever for firms to seek better returns, where possible. Cynergy Bank’s Business Saver allows businesses to grow their capital while allowing flexibility and accessibility.

The new savings account complements the bank’s existing range of products designed to serve the different needs of business customers, from current accounts to tailored lending solutions.

Sharon Maguire, chief product officer at Cynergy Bank, comments: “At Cynergy Bank, we pride ourselves on knowing our customers and understanding their priorities so we can meet their needs and support their ambitions. We know that businesses across the UK have been particularly affected by market challenges in the past year, so Business Saver can really help to optimise the returns they receive on any cash balances they are holding by offering highly competitive rates along with convenience and flexibility.”