Aldermore has reduced the rates paid on select business savings accounts by up to 0.25%; however, its one-year deals have proved their staying power by retaining chart places.
Fixed Rate Business Savings Account – 1 Year and the one-year version of Customised Fixed Rate Account now both pay a competitive rate of 1.50% on maturity (1.49% monthly), enabling them to sit just behind the current market-leaders.
Both accounts must be opened online but they can then be managed either online or by phone. Business owners are allowed to make further additions for up to 14 days after an account has been opened but early access to funds is not permitted.
Business owners who are looking for a short-term home for their non-personal savings are likely to continue to eye these deals with interest, particularly given their position just behind the current market-leaders. The fact that they allow further additions, albeit for a limited time, and have a monthly interest option, further add to their appeal.
Moneyfacts rating: Excellent
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