What is the interest rate?
Interest rate (*AER)
Gross annual interest
3.00%Gross monthly interest
2.96%*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
We calculate interest daily, and pay it monthly or annually. You can choose to have your interest paid to either your Easy Access account or your linked current bank or building society account.
Product summary - Easy Access Issue 14
Yes, the interest rate’s variable. We can increase or decrease it for any of the reasons set out in our Business Savings Terms and Conditions in section B2.
| Deposit at account opening | Balance at end of term | Interest earned |
|---|---|---|
| £1,000.00 | £1,030.00 | £30.00 |
| £75,000.00 | £77,250.00 | £2,250.00 |
These examples don't take your individual circumstances into account. They assume that you receive annual interest added to this account and you don't make any more deposits or withdrawals.
If you choose the monthly interest option and pay it into another account, the total amount of interest you'll earn will be less as we won't compound the interest.
- Your business must be UK-based
- All your directors and significant owners of your business must be aged 18 or over, resident in the UK and only tax resident in the UK
- We don't accept client money nor provide accounts to be held in trust
- Your business owners can't be US citizens
- You can open and manage your account online
- You can give us your account instructions through our online banking, secure message, telephone or post
- You'll need a minimum deposit of £1000 to open this account
- The maximum balance you can hold in this account is £1,000,000
- You can make additional deposits at any time
- You can close your account at any time without any penalties or notice
Yes, you can make unlimited fee-free withdrawals to your linked current account or transfers to any other business savings accounts you hold with us that allow deposits.
- We'll pay interest gross without deducting income tax
- AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year
Aldermore Business Savings Easy Access Issue 14 available from 5th June 2025.
To view all current and previous rates for our business savings accounts variable rate products, please click here
Eligibility
You need to be a limited or unlimited company (we don’t provide accounts for limited partnerships, limited liability partnerships, partnership, sole trader, clubs, societies or charities).
To be eligible to open a Business Saving account, the controlling person and all significant owners need to be resident in the UK, over 18 years of age and only tax resident in the UK. Our accounts cannot be held by US Persons.
Your business needs to be based in the UK, only tax resident in the UK and have no trustees or accounts held in trust.
Please make sure you have internet access, because all of our business savings accounts are online accounts and are opened and managed online.
Business savings easy access account FAQs
To open a business account with us you must be:
- A limited or unlimited company (we don’t provide accounts for limited partnerships, limited liability partnerships, partnership, sole trader, clubs, societies or charities)
- A business that is only tax resident in the UK
- Over 18 years of age, UK resident and only tax resident in the UK - this applies to all controlling persons, significant owners and directors
- You can't be a US citizen
- You need to own a mobile phone and have an email account
When you apply to open an Aldermore account you must give us details of a current account in your business’s name. We call this your linked nominated account. Your business current account provider must be a UK bank or building society, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Your business current account must allow electronic transfers to be made and received, and we may ask you to send us a bank statement to confirm your account details.
There are certain types of bank account that we can’t accept as your linked nominated account, as they aren’t fully licensed and regulated. These include accounts held with e-money providers.
We can't accept client money or hold accounts in trust.
We need to check your identity and address before we can open an account for you. This will mostly be done electronically, but we may need you to send some identification to us.
If we ask you to provide identification documents, we'll include details about how to do this when we get in touch.
When we release a new rate, we give it a new issue number. It helps us keep track of what product we are referring to, including what rate it offers.
If you're an existing customer you can make the change in just a few steps. Simply log in to internet banking and select ‘Open Account’.
Once you reach the ‘Create a login’ screen, you'll be able to return and complete it at any time.
From here, you'll receive an email from us, which will contain a unique link that'll allow you to create a password and register your phone number for the two factor authenticator. You’ll then be able to return to your application.
Please note: You have 24 hours from receipt of the email to click the unique link to create your account.
If you don't receive this email, please check your junk folder. It may also mean that you've not quite given us the information we need to register your account. If the email isn't in your inbox or junk folder, please give us a call on 01733 821 321 and we'll be happy to help. We're open between 8am-6pm on business days.
If you've opened an easy access account you can close it at any time with no notice or penalties.
If you’re applying for an account and we can’t complete our electronic checks we may ask you to send us some documents to help us confirm your identity.
This will normally be one proof of identity from List A and one proof of address from List B for the directors and business owners. Please note we can't accept originals for documents marked with an *, you’ll need to send us certified copies of these.
List A - Proof of identity
- Valid UK Passport*
- Valid UK Driving Licence* - photo card, full or provisional
- Valid Non-UK passport* or National ID Card*
- HM Forces/Police Warrant Card
- Firearms certificate or shotgun licence
- Identity card issued by the Electoral Office for Northern Ireland
- Letter from Benefits Agency/other Government Agency confirming a right to or receipt of state benefits/tax credits. Issued within the last 6 months or valid for current tax year
- HMRC document such as tax notification/tax assessment/statement of account/notice of coding/NI contributions bill. Issued within the last 6 months, or valid for the current tax year, P45s and P60s aren’t acceptable.
List B - Proof of residential address
- Valid UK Driving Licence* - photo card, full or provisional (if not used in list A), or an old-style paper
- Current bank or credit/debit card statement issued by a UK regulated financial sector firm and less than 90 days old – includes bank or building society savings books
- Current mortgage statement issued by a UK regulated financial sector firm, the latest statement issued within last 12 months
- Utility bill or landline telephone bill showing the landline number, as quoted on the application, and less than 90 days old
- Council Tax Bill for the current financial year
Letter from Benefits Agency/other Government Agency confirming a right to or receipt of state benefits/tax credits (if not used in list A). Issued within the last 6 months or valid for current tax year
HMRC document such as tax notification/tax assessment/statement of account/notice of coding/NI contributions bill (if not used in list A). Issued within the last 6 months, or valid for the current tax year, P45s and P60s aren’t acceptable.
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