Aldermore has increased the rate of its one-year business bond by 0.25%, cementing its position at the top of the Moneyfacts charts.
Fixed Rate Business Savings Account 1 Year now pays 1.90% on maturity (1.88% monthly), earning it a market-leading position in its sector.
This account can be opened online and then managed in the same way as well as by phone. An initial deposit of at least £1,000 is required.
Additional deposits can be made within the first 14 days of the account opening, but early access prior to maturity is not permitted. Business owners must therefore think carefully about how much they are willing to lock away.
The rate boost to this account has enabled it to take pole position in the Moneyfacts charts, something that is sure to attract the notice of business owners. The additional flexibility of depositing extra funds for 14 days also adds to this account's appeal, cementing its position as a market-leader. However, the lack of access to funds means that business owners must be prepared to lock their money away for the full term.
Moneyfacts rating: Excellent
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