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Redwood Bank wins top savings award for third year running

Redwood Bank has won a prestigious industry savings award for the third year in a row.

The Hertfordshire Challenger Bank has beaten Nationwide Building Society, United Trust Bank and Virgin Money to be named the winner of the Best Business Variable Rate Deposit Account Provider category.

Gary Wilkinson, CEO and Co-Founder


It is the third Business Moneyfacts prize for the Bank, which brings its entire awards haul to an impressive 25 in just four years.

For the second year running the winners of the Business Moneyfacts Awards were announced virtually via Twitter. The awards programme has been around since 2006 and pre-COVID-19 it had become the largest business finance ceremony in the UK.

The winners are determined by extensive product monitoring carried out throughout the preceding year. Broker and business communities are also consulted for their feedback on each organisation.


Gary Wilkinson, CEO and Co-Founder of Redwood Bank, said:

"This award is especially important because it was based on our performance during 2020, a year which was very challenging for everyone.


"It’s a huge honour to win this award three years in a row, as the Business Moneyfacts Awards logo is such a widely recognised badge of excellence.


"Awards are not what drives us, instead we are committed to providing the best possible customer products and service we can. Having said that, when our hard work is recognised and we receive yet another award, I cannot deny that it feels great that our fantastic team is being recognised."


According to organisers of the awards ceremony, the finalists and eventual winners are decided upon via a combination of methods.

For all product-specific categories, detailed weekly analysis of the data provided to them is studied by its research team. Judges look at the providers who offer competitive products to new savers, but also those providers that are supporting their existing customers as well. In addition, they also take into account feedback from customers.

For service categories, the broker and business communities are offered the chance to submit testimonials for their preferred providers.


The awards were announced on Thursday, April 15, 2021.


To find a complete list of Redwood Bank’s previous award wins, click here.

Notes to editors


For further details contact Laura Pearce at Strand PR on [email protected] or 01763 274674 / 07903 106405.

Redwood Bank was launched in August 2017, with a firm commitment to support Britain’s SMEs, a responsibility the Bank continues to stand by. The Bank does this by offering 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 its business customers seize property opportunities, and also offers competitive business savings accounts. Redwood Bank was founded by Jonathan Rowland and Gary Wilkinson. It has a unique private-public ownership structure in which Warrington Borough Council has a one-third stake.