OUR SAVINGS PRODUCTS
Put your business cash to work with our simple, rewarding and easy to use business savings accounts.
Our opening hours will change during the festive season.
Our opening hours will change during the festive season. We will close from 2.00pm on the 24th December and reopen at 9.00am on the 27th December. Our usual opening hours will then apply. We will be closed on the 1st January and reopen at 9.00am on the 2nd January.
With the Bank of England raising the base interest rate 14 times over the past two years, Redwood has experienced a 300 per cent increase in savings product applications in the six months from April to October.
Stuart Davidson, Director of Products and Strategy, said: “Organisations have seen that in a very competitive market space, Redwood’s rates, coupled with our ease of application, are a great choice.”
Redwood, which has won the Business Moneyfacts Best Business Variable Rate Deposit Account Provider for five successive years, provides four options for savings customers.
The 35-Day Business Savings Account currently boasts a 3.75% interest rate, with customers receiving 4.30% on its 95-day account.
For those customers able to put their money away over a longer period, the One-Year Business Savings Bond currently offers 4.80% interest rate with the two-year version providing investors with a 4.85% return.
Stuart said: “Businesses are keen to see their money work harder for them right now – this is especially true for charities where every penny counts at a time when donations have been affected by the cost-of-living crisis.
“We have always been a bank that wants to make life easier for our customers. We make the whole process of opening an account with us as straightforward as possible so they can start saving.”