Our Verdict
If I had a limited company with spare cash I knew I would not need for 12 months, I’d consider Aldermore’s 1-year fixed account. The rate is clear, the terms are simple, and you do not need to move your main business banking to get it.
The point is discipline: once money is in a fixed term it is locked until the end, fine for genuinely spare cash but not for VAT, wages or tax bills. I would not choose Aldermore for easy access; its instant-access rate is weak next to Tide and Capital on Tap.
Open an Aldermore savings account →Everything below covers the rates, terms, and how it compares to the main alternatives.
Aldermore Business Savings at a Glance
| Feature | Detail |
|---|---|
| Easy access rate | 2.45% AER (variable) |
| 95-day notice rate | 4.00% AER (variable) |
| 6-month fixed rate | 3.65% AER (fixed) |
| 1-year fixed rate | 4.16% AER (fixed) |
| Minimum deposit | £1,000 across all products |
| Maximum deposit | Not stated; confirm at aldermore.co.uk |
| FSCS protection | Up to £120,000 (Aldermore Bank licence) |
| Monthly fee | None |
| Current account required | No |
| CASS switch required | No |
| Eligible business types | UK-registered limited companies only |
| Interest payment | Easy access / notice: annually; fixed: at maturity |
| Verified from aldermore.co.uk, FSCS register, and FCA register, June 2026. Variable rates may have changed. Confirm current terms before opening. | |
What Is Aldermore Business Savings and How Does It Work?
Aldermore is a fully regulated UK bank, authorised by the Financial Conduct Authority and the Prudential Regulation Authority. Unlike fintech providers such as Tide or Capital on Tap, it holds deposits directly under its own banking licence.
That matters for deposit protection. Your money is covered up to £120,000 by the government-backed FSCS scheme, independently of any other savings provider you use. You could hold £120,000 here and another £120,000 with Tide, and both pots would be protected in full.
There are four account types, each standalone: easy access, 95-day notice, 6-month fixed, and 1-year fixed. You do not need to switch your business banking to Aldermore, and there is no minimum number of transactions to keep on top of.
You open an account online at aldermore.co.uk, nominate a bank account for money to move in and out through, and pay in at least £1,000 to get started. Everything runs through that nominated account. How fast you can get your cash back depends on which product you chose.
With the easy access account, your money is there whenever you need it. Request a withdrawal and the funds are back in your nominated account within one business day. You pay for that convenience with a lower rate than the other accounts earn.
The 95-day notice account is slower by design. You serve notice through the portal and wait 95 days before the money lands. Serve notice in January and you will not see the cash until April.
If you think you might need the money in a hurry, I would not park it here. The rate is variable too, so it can shift while you are waiting.
Fixed-term accounts lock your money away for the whole term, six months or a year, with no early exit at any price. Before I committed to one, I would make sure I had a separate working capital pot I could reach in a pinch. Open an Aldermore savings account
Interest builds up daily on all accounts. Fixed-term deposits pay it out as a lump sum when the account matures, while easy access and notice accounts credit interest once a year.
All the rates quoted here are AER (Annual Equivalent Rate), a standard way of comparing savings accounts across different compounding frequencies. We would always confirm the exact gross rate at aldermore.co.uk before committing, particularly for larger deposits.
Aldermore Business Savings Products
| Product | Rate (AER) | Type | Min deposit | Access |
|---|---|---|---|---|
| Easy Access | 2.45% variable | Variable | £1,000 | Instant |
| 95-Day Notice | 4.00% variable | Variable | £1,000 | 95-day notice |
| 6-Month Fixed | 3.65% fixed | Fixed | £1,000 | No early access |
| 1-Year Fixed | 4.16% fixed | Fixed | £1,000 | No early access |
| Verified from aldermore.co.uk, June 2026. Variable rates may have changed. Confirm current rates before opening. | ||||
The core trade-off across all four accounts is rate versus access. Higher rates require you to commit your money for longer, and fixed-term accounts have no early exit once you are in.
The 95-day notice account sits in the middle: competitive rate, access in about three months if you plan ahead. Its rate is variable, though, so it can move while you wait.
Fixed-term accounts lock your rate from the day you open: a base rate cut during the term doesn’t affect your return. That certainty is what you’re paying for with the liquidity trade-off.
Here is how we would match each account to a business situation.
1-Year Fixed (4.16% AER)
The strongest rate Aldermore offers, and the most straightforward: deposit at least £1,000, earn 4.16% per year, withdraw at maturity 12 months later.
Best suited to limited companies with cash that genuinely will not be touched for a year: a tax reserve set aside after a strong quarter, retained profits not yet deployed, or capital earmarked for a project that won’t start for several months.
95-Day Notice (4.00% AER)
A good middle ground if you want a competitive rate but might need access before 12 months are up. You give written notice via the portal and the money arrives 95 days later.
Think: a VAT reserve or a bonus fund that will not be needed before quarter-end. Serve notice in January and the funds land in April. The rate is variable, so it can shift while you are waiting.
Easy Access (2.45% AER)
Available whenever you need it, but the rate makes it hard to recommend for most businesses. At 2.45%, it pays well below what Capital on Tap (3.82%) and Tide (up to 3.74%) offer with no restrictions attached.
Only worth considering if you have a specific reason not to use those alternatives: perhaps an existing Aldermore relationship, or a preference to keep all your savings under one banking licence.
Worked example: 1-year fixed. Your company holds £80,000 in retained profits sitting in a current account earning 0%. You transfer to an Aldermore 1-year fixed in 3 business days. At 4.16% AER, that is approximately £3,328 at maturity with no ongoing management required. Keep a separate working capital pot for day-to-day expenses so the fixed-term funds are genuinely untouched.
Rates and Returns
The headline rate is the 1-year fixed at 4.16% AER (Annual Equivalent Rate). For a business sitting on cash it won’t need for a year, that is real money earned with no effort where a current account pays nothing. Confirm current rates at aldermore.co.uk before applying.
The 1-year fixed is the strongest case for Aldermore. We calculate: at 4.16% AER, a £100,000 deposit earns approximately £4,160 over 12 months before tax. On £50,000, that is approximately £2,080.
If your business is sitting on £50,000 or more that you won’t touch until after your next financial year, the 1-year fixed turns that idle cash into a return without asking anything of you once it’s open. Set against a current account paying nothing, it isn’t a close call.
Scenario: your finance director reviews the balance sheet in June and spots £60,000 sitting idle after a strong quarter. She opens an Aldermore 1-year fixed that afternoon. At 4.16% AER, that is approximately £2,496 at maturity with no conditions to monitor. Open an Aldermore savings account
Fixed vs variable rate structure. Easy access and notice account rates are variable: Aldermore can change them with 14 days’ notice before a reduction. When the Bank of England cuts rates, Aldermore’s variable products follow.
Fixed-term rates are locked from the day you open. A rate reduction during your term doesn’t affect your return. A rate increase also doesn’t benefit you: you’re locked at the opening rate until maturity. That certainty is the product.
When interest is paid. Fixed-term deposits pay interest at maturity: at the end of the 6-month or 1-year term. Easy access and notice accounts credit interest annually. Confirm the exact payment schedule at aldermore.co.uk as terms may have changed.
Fees and Charges
There are no fees on any Aldermore business savings product: no monthly maintenance fee, no setup fee, no transfer fee, no transaction fee. We confirmed this from aldermore.co.uk in June 2026 and found no hidden charges in the product terms.
Transfers are processed via Faster Payments at no charge from Aldermore. The sending bank may charge for outbound transfers: check your current account terms. We found no transfer charges from Aldermore on savings accounts.
Early exit from a fixed-term deposit: Aldermore doesn’t offer early withdrawal. There’s no penalty fee because you simply can’t access the funds early. That is an illiquidity risk, not a fee risk.
If your quarterly VAT bill might require cash before maturity, keep that amount outside the fixed-term. Plan your liquidity before committing.
Eligibility and Deposit Requirements
Who can open an account. UK-registered limited companies only. Every director must be over 18, UK-resident, and UK tax-resident. If any director holds US citizenship, the application stops: a standard FATCA restriction, not an Aldermore quirk. Sole traders won’t qualify.
Sole traders and partnerships are not accepted. We confirmed limited-company-only eligibility at aldermore.co.uk, June 2026. If you are a sole trader, Tide and Capital on Tap both accept sole traders and pay competitive instant-access rates.
Open an Aldermore savings account
Deposit limits. Minimum deposit: £1,000 across all products. Maximum deposit: not stated. Confirm at aldermore.co.uk before depositing a large sum.
If your business holds more than £120,000 in savings, split deposits across providers to keep each pot within the FSCS limit. Aldermore and a ClearBank-backed provider (Tide, Capital on Tap) give you two separate £120,000 protections: independent pools, not a combined limit.
One thing to check first: this account is for limited companies only. If you are a sole trader, in a partnership, or running a charity or trust, Aldermore cannot take you. The same applies if any director is a US citizen or not UK tax-resident.
For sole traders, Tide Instant Saver or Capital on Tap are the usual routes instead. Check eligibility at aldermore.co.uk if you are unsure about your situation.
Account Access and User Experience
You manage the account through the Aldermore portal at aldermore.co.uk. There is no dedicated mobile app for business savings. From the portal you can check balances, move deposits, serve notice, and pull statements.
If you want real-time notifications and in-app support chat, I would call it dated next to an app-first provider. For a savings pot you check once a month rather than daily, that matters far less than the rate you are earning on it.
With easy access, you log in and initiate a withdrawal to your nominated account. It is processed within one business day via Faster Payments.
For a notice account, you log in and serve 95 days’ written notice through the portal. You cannot serve rolling notice and keep funds in the account at the notice rate: specify the amount you intend to withdraw.
Fixed-term deposits need no action until maturity. Aldermore emails you before the end date to confirm your instruction: roll over, transfer out, or switch product. Funds return to the nominated account on maturity day, a clean exit with no friction.
You apply online at aldermore.co.uk. The application needs your company details (Companies House registration number), director identification (passport or driving licence), and a nominated bank account for transfers.
When your company secretary sits down to apply on a Monday morning, the online form takes about 10 minutes: Companies House number, a passport scan, and your nominated bank account details. The account is typically live by Wednesday. Open an Aldermore savings account
Security, Regulation and FSCS Protection
Aldermore Bank plc is authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA. We cross-checked the FCA registration in June 2026 at register.fca.org.uk. Verify current authorisation there before depositing.
Deposits with Aldermore Bank are FSCS-protected up to £120,000 per depositor. The limit was raised from £85,000 to £120,000 on 1 December 2025. This protection sits under Aldermore’s own banking licence, separate from any other bank or provider you hold money with.
Deposits at ClearBank-backed providers such as Tide and Capital on Tap sit in a separate FSCS pool from your Aldermore deposits. Hold £120,000 with Aldermore and £120,000 with Tide and you have £240,000 covered across two independent pools.
As a bank, Aldermore is subject to PRA capital adequacy rules, a more stringent framework than the e-money safeguarding rules that apply to Tide or Capital on Tap. Deposits sit on Aldermore’s balance sheet, not in a separate client money ring-fence.
Online banking is secured with two-factor authentication. CHAPS and Faster Payment withdrawals require manual verification for new payees.
Customer Reviews and Reputation
We checked Trustpilot in June 2026: Aldermore holds 4.5 out of 5 across all products. Business savings customers cite competitive fixed rates, professional service, and straightforward account opening.
Customers report the product does what it says: rate locked, funds safe, interest paid on maturity as expected. Aldermore contacts you before maturity to confirm your preference, so there are no surprises.
The common gripes are practical ones: occasional delays in account opening (2 to 5 business days rather than 1), limited self-service digital tools compared to app-first providers, and no dedicated mobile app for savings management.
These are structural product limitations rather than service failures. If a responsive mobile banking experience is your priority, Aldermore is not the right fit. If a competitive locked rate with FSCS protection is what you need, the digital experience is a secondary concern.
Customer Support and Service
You can reach Aldermore by phone on 0333 111 1234, Monday to Friday 9am to 5pm. There is no weekend support, no 24/7 helpline, and no dedicated relationship manager for savings-only customers, unlike Allica, which assigns one to all customers.
For most savings queries such as rate confirmation or balance checks, the online portal gives you self-service access without needing to call.
Aldermore’s help centre at aldermore.co.uk covers account opening, notice periods, maturity options, and product terms. Rate changes and product updates are published by email to existing customers. There is no live chat support and no community forum.
Aldermore Business Savings vs Alternatives
Aldermore vs Tide Business Savings
Tide Instant Saver pays up to 3.74% AER with no conditions: no CASS switch, no minimum transaction volume. The rate is plan-dependent on the free tier (2.27% AER), but Plus plan users earn up to 3.74%. Tide savings are held via ClearBank, FSCS-protected up to £120,000 via ClearBank.
Aldermore’s easy access (2.45% AER) trails Tide’s top rate by enough to settle that question. The way we see it: take the Aldermore 1-year fixed (4.16% AER) if you can lock the cash away for a year, and take Tide if you need it at short notice with no strings.
Sole traders and partnerships should choose Tide: Aldermore accepts limited companies only. Businesses already banking with Tide benefit from one-click transfers with no separate application process.
Aldermore vs Capital on Tap Business Savings
Capital on Tap savings pays up to 3.82% AER instant access with no conditions. The savings account is available to Capital on Tap card customers. Like Tide, it’s held via ClearBank: same FSCS structure, same shared £120,000 limit across ClearBank-backed accounts.
If you need instant access at the best available rate, Capital on Tap (3.82%) beats Aldermore’s easy access (2.45%) by 1.37 percentage points. On £100,000, that is approximately £1,370 per year.
If rate maximisation over 12 months is the priority and you qualify for Aldermore (limited company), the 1-year fixed at 4.16% AER is the stronger choice. Hold £120,000 with Aldermore and £120,000 with Capital on Tap: two separate FSCS pools, £240,000 covered in total.
Aldermore vs Allica Bank Business Savings
Allica’s savings pot pays up to 4.08% AER, but only if you switch your main bank via CASS and make 15+ outbound transfers per month. Without those conditions, the base rate is 2.83% AER: below Aldermore’s 95-day notice (4.00%) and far below the 1-year fixed (4.16%).
For businesses that won’t or can’t do a CASS switch, Aldermore’s 1-year fixed at 4.16% AER is the simpler and higher-rate choice. You do nothing special to earn it: pay the money in, wait, collect the interest.
For businesses fully committed to Allica as their primary bank (15+ outbound transfers per month, CASS switch completed), the Allica savings pot at 4.08% AER offers instant access that Aldermore’s fixed-term can’t match. Different products for different situations.
We have a full comparison across all options in our best business savings accounts guide.
Final Verdict: Is Aldermore Business Savings Worth It?
Yes, if you’re a UK limited company with cash you can commit for a year. We reviewed the terms and found no conditions: no CASS switch, no transfer count, no rate that halves if you miss a requirement. The rate you see, you keep.
No, if you need instant access. The easy access rate is materially weaker than the no-conditions instant-access rivals covered above. If your cash might be needed in the next three months, Aldermore’s the wrong product.
No, if you’re not a limited company. Sole traders and partnerships aren’t accepted. For sole traders, Tide Instant Saver or Capital on Tap are the relevant alternatives.
Open an Aldermore savings account
Frequently Asked Questions
Can sole traders open an Aldermore business savings account?
No. Aldermore business savings are open to UK-registered limited companies only. If you’re a sole trader, we recommend Tide Instant Saver or Capital on Tap savings: both accept sole traders and pay competitive instant-access rates. Confirmed at aldermore.co.uk, June 2026.
What is the FSCS protection limit for Aldermore savings?
£120,000 per depositor under Aldermore Bank’s own banking licence. This limit was raised from £85,000 on 1 December 2025. If you also hold money at a ClearBank-backed provider (Tide, Capital on Tap), those deposits are protected under a separate FSCS pool.
Can I withdraw early from a fixed-term deposit?
No. Aldermore fixed-term deposits don’t permit early withdrawal. Funds are locked for the full term (6 months or 1 year) with no early exit option. If you might need access before maturity, use the 95-day notice account instead.
How does the 95-day notice account work?
You serve 95 days’ written notice via the online portal before withdrawing. The notice period starts from the date you submit your request. The rate is variable: it can change during your notice period. Confirm the current rate at aldermore.co.uk before serving notice.
What is the minimum deposit for Aldermore savings?
£1,000 across all Aldermore business savings products. There is no minimum ongoing balance requirement. Maximum deposit isn’t published: verify at aldermore.co.uk for large deposits.
How do Aldermore rates compare to Allica Bank?
Aldermore 1-year fixed: 4.16% AER, unconditional, no switch required. Allica savings pot: up to 4.08% AER, but only if you switch your main bank account via CASS and make 15 or more outbound transfers per month. For most businesses, Aldermore’s fixed rate is simpler to achieve. For instant access, Allica’s base rate is 2.83% AER versus Aldermore’s 2.45% AER: both are below Capital on Tap (3.82%) and Tide (up to 3.74%).
How we reviewed Aldermore Business Savings
We evaluated Aldermore Business Savings on pricing, product terms, features, and eligibility. These are the factors that matter most to UK limited companies considering this provider.
We checked Aldermore’s pricing page, product terms, and account documentation directly in June 2026, with no comparison sites, press releases, or affiliate material. The FSCS register and FCA register were cross-checked for regulatory status and FSCS confirmation.
We re-verify this page at least monthly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. Some links on this page are affiliate links; see our editorial policy.