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Balance your business savings
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A little bit about us
Don't forget to read our Key features & summary box and Business savings account terms and conditions documents.
If you don't need instant access to your business cash you can make it work harder for you by securing it away at just 35 days' notice.
You'll earn a rewarding rate while being able to make as many deposits and withdrawals as you need.
Yes, this is a variable interest rate and we may change this rate at any time by providing you with at least 14 calendar days’ notice plus the 35 days’ notice on your account.
Your eligible deposits with Redwood Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information, or visit www.fscs.org.uk.
Information and rates for our business savings accounts, including those no longer available.
Print our application form yourself and send it to us in the post.
You can apply online from our website, or by post. To apply by post, please complete our application form below:
35 Day Business Savings Account application form here
If you have any further questions, get in touch on 0330 053 6067 or email [email protected].
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.
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 [email protected].
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.
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.