OUR SAVINGS PRODUCTS
Put your business cash to work with our simple, rewarding and easy to use business savings accounts.
Hertfordshire-based Redwood Bank has unveiled its first One Year Business Savings Bond, paying a competitive 1.71% AER, becoming the top-paying one year savings account, and offering a guaranteed return for businesses and charities. This generous rate puts Redwood Bank in a market leading position in the one-year fixed bond market.
The account is specifically developed for British businesses, charities, clubs, associations, societies and parish/local councils nationwide, and can be opened online or by post.
Redwood’s account has a starting balance of £10,000, with a maximum balance of £1 million, and allows multiple top-ups within the first 14 days.
Co-Founder and Chief Executive Officer (CEO) of Redwood Bank, Gary Wilkinson, said: “We’re pleased to offer British businesses a new top guaranteed one year bond. Our business mortgages are proving very popular which, in turn, means we can offer an attractive rate to our savers.
“British businesses deserve better, and our research shows that this is the highest one-year business bond savings account rate, offering a guaranteed return, that has been on the market for over three years. Business savers win with our new account.
“The simplicity of account opening, combined with the excellent rate, means our One Year Business Savings Bond will be an attractive option, enticing and enabling many businesses, charities and other organisations to benefitting from a top guaranteed return on their savings.
“Everything we do is about supporting British businesses, helping them navigate the ever changing financial and business landscape. Our new account provides security, peace of mind, a guaranteed return at a top rate, which is exactly what our customers have told us they’re looking for in a new bond.”
| Company | AER | Term | Min Investment | Guaranteed fixed rate |
| Al Rayan Bank | 1.86% | 12 Month Bond | £1,000 | No, Islamic banking principles apply (Shariah) |
| Redwood Bank | 1.71% | 1 Year Bond | £10,000 | Yes |
| Union Bank of India | 1.70% | 1 Year Bond | £1,000 | Yes |
| Hampshire Trust Bank | 1.70% | 1 Year Bond | £5,000 | Yes |
| Cambridge & Counties Bank | 1.70% | 13 Month Bond | £10,000 | Yes |
| United Trust Bank | 1.65% | 1 Year Bond | £5,000 | Yes |
Redwood Bank launched in August 2017, becoming Britain’s newest business bank, offering a real alternative for small and medium-sized businesses. As well as its competitive range of savings accounts, it offers secured SME mortgages for business owners and experienced commercial and residential property investors.
Its new One Year Business Bond joins an existing set of market-leading savings accounts, including a 35 Day Business Savings Account paying 1.00% AER and a 95 Day Savings Account paying 1.35% AER.
Redwood Bank is covered by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme, protecting customers’ eligible deposits up to a total of £85,000.
Download a PDF of this press release
Notes to editorsFor further details contact Laura Pearce at Strand PR on laura@strand-pr.co.uk or 01763 274674 / 07903 106405.
Redwood Bank was launched in August 2017, becoming Britain’s newest business bank for SMEs and completing its ‘mobilisation’ phase just over four months after securing its initial banking licence in April 2017. Redwood Bank offers secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It delivers fast and efficient mortgage decisions to help their business customers seize property opportunities and also offers competitive business savings accounts. Redwood Bank was founded by Gary Wilkinson and Jonathan Rowland. It has a unique private-public ownership structure in which Warrington Borough Council has a one-third stake.