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The 1 Year Business Savings Bond

Secure your business savings for one year and gain access to our top rate of interest.

At a glance...

  • A fixed investment for one year
  • Pay in from £10,000 up to £1m
  • Up to 4 authorised users
  • Limited funding window
  • Click for more information.

Interest option

Term

AER

Term
Annual
Amount of notice
1 Year
AER variable
1.85%
Term
Monthly
Amount of notice
1 Year
AER variable
1.85%
  • Account summary
  • Terms and important documents
  • A guaranteed return on your business savings

    If you don't need access to your business cash for at least one year, you can earn a guaranteed rate of interest by securing it away for the fixed period.
     

    • Competitive 1.85% AER 
    • Minimum balance of £10,000
    • Maximum balance of £1m
    • Use a nominated current account for payments
    • Unlimited top-ups in first 14 days (up to £1m)
                               
    • No withdrawals allowed during the period
    • Cancel in the first two weeks if it is not right for you
    • Reinvestment and withdrawal options at maturity
    • Apply online now in around 15 minutes.
     

    We like to be absolutely up front so here are some important things to be aware of:

    • This is a fixed term bond for one year so this account may not be right for you if you think you will need access to your money sooner.
    • This account is perfect for, and only available to, sole traders, limited companies, partnerships, LLPs, charities, clubs, associations, societies and parish/local councils.
    • You will need to use one nominated current account to make all payments in and out.
    • We offer multiple reinvestment and withdrawal options at maturity. If you do not indicate to us what you would like to do with your funds at this time, your funds will be transferred into our Business Call Account, which is only available to maturing bond customers. 
    • Use the tabs above or click to read our Business savings bond terms and conditions and the Key features & summary box document for this account.


    Prefer to apply by post?  

    Print our application form yourself and send it to us in the post.   Download application form

  • These documents form your agreement us and explain how to use your account.
    Please take the time to read them carefully before applying for your account:


How do I open a business savings account?

You can apply online from our website, or by post. To apply by post please complete our Business Savings Account application form here. If you have any further questions, get in touch on 0330 053 6067 or email hello@redwoodbank.co.uk.

What types of organisation can open a savings account?

You can open a savings account if you are a sole trader, limited company, partnership, limited liability partnership, club, society, association or charity.

Companies and shareholding companies must be UK registered. All beneficial owners and authorised users must be UK residents.

How many authorised users can I have on one account?

You can add up to four authorised users on your savings account. Any additional authorised users will need to be requested directly with us on 0330 053 6067 or hello@redwoodbank.co.uk.

What checks do you do when assessing the application?

We have a responsibility to know our customers, so we will need to check the registered address of your organisation, as well as verifying the identity of all key individuals and organisations on the account (e.g. Partners, Directors, Members, Authorised Users, Beneficial Owners etc).

We do this by checking various electronic databases. If we are unable to verify your organisation or the individuals involved in its management or operation, we may ask you to supply us with some identity documents by post. We will not be able to open your account until we have successfully verified your details.

What is a nominated account?

When you apply for your business savings account we will ask you for the details of the business current account that you will use to pay into, and out of, your Redwood Bank savings account.

We will make all payments through this account. Please get in touch directly or click to download and complete this form if you wish to change your nominated account.