Aldermore Business Savings Review (2026): Rates, Fees and Verdict
Aldermore Business Savings: 4.16% AER (1-year fixed), FSCS to £120,000, no fees, no conditions — but limited companies only, and the 2.45% easy access rate is the weakest here.
- Up to 4.16% AER on a 1-year fixed-term business savings account.
- FSCS-protected up to £120,000 under Aldermore Bank’s own licence.
- No fees. No minimum transaction volume. Limited companies only.
Aldermore Bank pays 4.16% AER on a 1-year fixed-term deposit — the highest unconditional fixed rate among the savings accounts we review. Deposit for 12 months, earn 4.16% AER, withdraw at maturity. No CASS switch. No monthly transfer threshold. No conditions.
The catch is the easy access rate: 2.45% AER. If you need instant access, that is the weakest rate on this page — below Capital on Tap (3.82%) and Tide (up to 3.74%). Aldermore is a fixed-rate or notice-account play. Not an instant-access one.
When your year-end arrives and your accountant asks where the interest income sits, the Aldermore fixed-term gives a clean answer: locked rate, maturity date, interest paid on maturity. No variable rate drift to account for.
We reviewed Aldermore’s savings products, rates, and eligibility at aldermore.co.uk in May 2026. We verified FSCS protection against the FSCS register and FCA authorisation against the FCA register. We compare Aldermore directly against our best business savings accounts and the Allica Bank savings review.
Aldermore Business Savings at a Glance
Our Verdict
If your limited company has cash it won’t touch for 12 months, Aldermore’s 4.16% AER 1-year fixed is the clearest unconditional rate choice here. No CASS switch, no transaction volume, no behavioural threshold.
Deposit £1,000 or more, earn 4.16% AER, withdraw at maturity. That’s the deal.
If you need flexibility before 12 months, the 95-day notice at 4.00% AER is competitive — though the variable rate can change during the notice period. If you need instant access, Capital on Tap or Tide will pay you more. The easy access rate here is 2.45% AER. Not competitive.
Best For
Limited companies with surplus cash that can be committed for 6–12 months. Businesses that want the highest unconditional fixed rate without switching their main banking. Companies that want full FSCS protection under a banking licence — not e-money safeguarding.
Not Ideal For
Not suitable if: you need instant access to your savings (easy access rate is 2.45% AER — below alternatives); you are a sole trader or partnership (Aldermore accepts limited companies only); you are a US citizen or non-UK tax-resident (excluded); or you want a digital-first mobile banking experience.
Key Facts
| 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 for term) |
| 1-year fixed rate | 4.16% AER (fixed for term) |
| FSCS protection | Up to £120,000 (Aldermore Bank licence) |
| Minimum deposit | £1,000 |
| Monthly fee | None |
| Eligible business types | UK-registered limited companies only |
| Sole traders accepted | No |
| US citizens accepted | No |
| Apply online | Yes — aldermore.co.uk |
Aldermore Business Savings
What Is Aldermore Business Savings and How Does It Work?
How the Account Works
Aldermore is an FCA-authorised bank, not an e-money institution. Your business savings deposits are held directly under Aldermore Bank’s own banking licence — not passed to a third-party custodian like ClearBank. This is the same FSCS structure as NatWest or Barclays: your protection is with Aldermore itself, up to £120,000.
Aldermore runs four products under the same savings banner — easy access, 95-day notice, 6-month fixed, and 1-year fixed. Each is a standalone product with no current account required and no CASS switch. We found no conditions buried in the product terms beyond eligibility. That’s the straightforward case.
No CASS switch, no monthly transaction threshold, no behavioural conditions. You earn the stated rate for the stated product. We reviewed the product terms at aldermore.co.uk, May 2026.
How Deposits and Withdrawals Work
You open a savings account online at aldermore.co.uk and nominate a linked bank account for transfers in and out. Deposits are made via bank transfer from your nominated account. Minimum opening deposit is £1,000 across all products.
For easy access: you can withdraw funds at any time with no notice period. The transfer returns to your nominated account, typically within one business day.
For 95-day notice: you must serve 95 days’ notice before withdrawing. The notice period starts from the day you request the withdrawal. If Aldermore changes the variable rate during your notice period, the new rate applies to the remaining balance.
For fixed-term deposits (6 months or 1 year): funds are locked for the full term. Early access is not available. In practice, fixed means fixed. Plan your liquidity before committing. Open an Aldermore savings account
How Interest Is Earned
Interest accrues daily on all products. For the easy access account, interest is typically credited annually. For notice accounts, interest is credited annually or on withdrawal depending on the term. For fixed-term deposits, interest is paid at maturity.
All rates are quoted as AER (Annual Equivalent Rate) — this allows direct comparison across products that compound at different frequencies. AER and gross rate may differ; confirm the gross rate at aldermore.co.uk if you need to calculate exact returns on a specific deposit.
Aldermore Business Savings Products
Available Savings Options
Easy access savings: 2.45% AER (variable). No notice period. Withdraw at any time. This is the weakest rate in Aldermore’s range. Below every instant-access alternative on this page.
95-day notice account: 4.00% AER (variable). You must give 95 days’ written notice before each withdrawal. The rate can change during the notice period. Competitive for businesses that can plan cash flow in advance.
6-month fixed-term deposit: 3.65% AER. Funds locked for 6 months. Rate fixed for the full term. Weaker than the 1-year fixed and less competitive than OakNorth notice accounts for similar-length commitments.
1-year fixed-term deposit: 4.16% AER. Funds locked for 12 months. Rate fixed for the full term. Matches Shawbrook as the highest unconditional fixed rate here. The straightforward case for Aldermore.
Key Differences Between the Available Accounts
The core trade-off is rate vs liquidity. Higher rates require you to commit funds for longer. The 1-year fixed at 4.16% AER is locked for 12 months with no early exit. That’s the trade-off.
The 95-day notice at 4.00% AER gives you access in about 3 months. The easy access at 2.45% AER is available any time — but the rate gap versus fixed-term is large enough to matter for any meaningful cash reserve.
The notice account rate is variable: if the base rate drops while you’re serving notice, the rate on your remaining balance changes. Fixed-term accounts lock your rate from day one. That certainty is the product.
If you are planning a significant capital expenditure in 9–12 months — new equipment, an office fit-out — the 95-day notice account lets you serve notice 3 months before you need the funds while earning 4.00% AER on the balance until then.
Which Businesses Each Option May Suit
1-year fixed (4.16% AER): Limited companies with a cash reserve that won’t be touched for 12 months — tax reserves, retained profits, or capital not yet deployed. The unconditional highest rate for a commitment most established businesses can manage.
95-day notice (4.00% AER): Businesses that want a competitive rate but may need access within 6 months. Suitable for cash that is probably not needed soon but might be — the 95-day notice period is long enough to serve as a deterrent from frequent withdrawals.
Easy access (2.45% AER): Only worth considering if you have a specific reason not to use Capital on Tap or Tide for instant-access savings. For most businesses needing instant access, the alternatives pay more.
Rates and Returns
Current Interest Rates
Rates as verified at aldermore.co.uk, April–May 2026: easy access 2.45% AER; 95-day notice 4.00% AER; 6-month fixed 3.65% AER; 1-year fixed 4.16% AER. Variable rates change with market conditions — confirm current rates at aldermore.co.uk before applying.
The 1-year fixed rate is the strongest case for Aldermore. At 4.16% AER, a £100,000 deposit earns approximately £4,160 over 12 months before tax. For a £50,000 deposit, that is approximately £2,080. Confirm your specific projection at aldermore.co.uk.
If your business retains £50,000+ in cash that won’t be touched until after your next financial year, the 1-year fixed captures that value with no ongoing management required. Better than a current account paying 0%. Not close.
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 does not affect your return. A rate increase also does not benefit you — you are locked at the opening rate until maturity. That certainty is the product. It has a price: illiquidity.
How and When Interest Is Paid
For fixed-term deposits, interest is paid on maturity — at the end of the 6-month or 1-year term. For easy access and notice accounts, interest is credited annually. Confirm the exact payment schedule at aldermore.co.uk as terms may have changed.
What Can Change the Rate
Variable rates on easy access and notice accounts change when the Bank of England base rate moves, when Aldermore updates its internal pricing, or when competitive pressure forces a repricing. Aldermore must notify you before cutting a variable rate.
Fixed rates are immune to all of the above for the term of your deposit. The only risk to your fixed return is Aldermore Bank’s solvency — mitigated by FSCS protection up to £120,000.
Fees and Charges
Account Fees
No account fees on any Aldermore business savings product. No monthly maintenance fee. No setup fee. Confirmed from aldermore.co.uk, April 2026. We found no hidden charges in the product terms.
Deposit and Withdrawal Fees
No fees for depositing funds into or withdrawing funds from your savings account. Transfers are processed via Faster Payments at no charge from Aldermore. Your own bank may charge for outbound transfers — check your current account terms.
Transfer and Transaction Fees
No transfer fees. No transaction fees. Aldermore does not charge for CHAPS or Faster Payment transfers on savings accounts. There is no minimum or maximum number of transactions.
Other Charges to Watch
Early exit from a fixed-term deposit: Aldermore does not offer early withdrawal. There is no penalty fee because you simply cannot 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. All directors must be over 18, UK-resident, and UK tax-resident. US citizens are excluded — this is a standard restriction for banks due to FATCA compliance requirements. Sole traders won’t qualify.
Sole traders and partnerships are not accepted by Aldermore for business savings. If you are a sole trader, Tide instant saver and Capital on Tap savings accept sole traders and pay competitive instant-access rates. We confirmed limited-company-only eligibility at aldermore.co.uk, April 2026.
Minimum and Maximum 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, your finance director needs to 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.
Ineligible Business Types
Sole traders, partnerships, charities, trusts, and non-UK entities are not eligible. Businesses with directors who are US citizens are excluded. Businesses where any director is not UK tax-resident are excluded. Verify your specific situation at aldermore.co.uk if you have any doubt.
Account Access and User Experience
Online Banking and App Experience
Account management is via the Aldermore online portal at aldermore.co.uk. There is no dedicated mobile app for business savings. The portal allows you to view balances, manage deposits, serve notice, and download statements.
If your business needs a full mobile app experience with real-time notifications and in-app support chat, Aldermore is not the right product. It is a straightforward savings portal, not a digital-first banking platform.
Managing Savings and Withdrawals
For easy access: log in, initiate a withdrawal to your nominated account. Processed within one business day via Faster Payments.
For notice accounts: log in and serve 95 days’ written notice via the portal. The 95-day countdown starts from your notice date. You cannot serve rolling notice and keep funds in the account at the notice rate — you must specify the amount you intend to withdraw.
For fixed-term deposits: no action required until maturity. Aldermore will contact you before maturity to ask whether you want to roll over, transfer out, or change product. Open an Aldermore savings account
How to Open an Account
Apply online at aldermore.co.uk. The application requires: company details (Companies House registration number), director identification (passport or driving licence), and a nominated bank account for transfers.
Aldermore uses digital ID verification — no branch visit required. Processing time is typically 1–3 business days. We found no widespread complaints about unusual onboarding delays in Trustpilot reviews reviewed May 2026.
Security, Regulation and FSCS Protection
Regulation and Authorisation
Aldermore Bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. It operates as a bank — not an e-money institution. Confirm current FCA authorisation at register.fca.org.uk.
FSCS Protection
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 is protection under Aldermore’s own banking licence — separate from any other bank or provider you hold money with.
Deposits at ClearBank-backed providers (Tide, Capital on Tap) are covered by a separate FSCS pool — not the same pool as your Aldermore deposits. The reality is: two separate £120,000 protections. Spread £120,000 with Aldermore and £120,000 with Tide: £240,000 covered. Two separate pools.
Safeguarding and Security Features
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. Your deposits are held 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
What Customers Like
We reviewed Aldermore’s Trustpilot profile in May 2026 (4.5/5 across all Aldermore products). Business savings customers cite competitive fixed rates, professional and responsive service, and straightforward account opening.
Customers who use Aldermore for fixed-term savings report the product does what it says — rate locked, funds safe, interest paid on maturity as expected. When the 12-month term completes, Aldermore contacts you before maturity to confirm your rollover or withdrawal instruction. No surprises at month-end.
Common Complaints
Common complaints across Aldermore’s product range: occasional delays in account opening (typically 2–5 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 your priority is a responsive mobile banking experience, Aldermore is the wrong fit. If your priority is a competitive locked rate with FSCS protection, the digital experience is a secondary concern.
Customer Support and Service
Support Channels and Availability
Phone: 0333 111 1234, available Monday to Friday 9am–5pm. No weekend support. No 24/7 helpline. No dedicated relationship manager for savings-only customers (unlike Allica, which assigns a relationship manager to all customers).
For time-sensitive queries outside business hours, you will need to wait until the next business day. For most savings queries — rate confirmation, balance check, maturity date — the online portal provides self-service access without needing to call.
Help Centre and Self-Service Resources
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 via email to existing customers. No live chat support. No community forum.
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 are 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, April 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 do not permit early withdrawal. Your 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 is not 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+ 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 vs Aldermore’s 2.45% AER — both are below Capital on Tap (3.82%) and Tide (up to 3.74%).
Aldermore Business Savings vs Alternatives
Tide Instant Saver Account
Capital on Tap Business Savings Account
Allica Instant Access Business Savings Pot
Final Verdict: Is Aldermore Business Savings Worth It?
Yes — if you are a UK limited company with surplus cash you can commit for 12 months. 4.16% AER with FSCS protection and no conditions. No CASS switch, no monthly transfer volume, no conditional rate boosts. Straightforward. That is why we rate it.
No — if you need instant access. The easy access rate (2.45% AER) is materially weaker than Capital on Tap (3.82%) and Tide (up to 3.74%). If your cash might be needed in the next three months, Aldermore is the wrong product.
No — if you are not a limited company. Sole traders and partnerships are not accepted. For sole traders, Tide Instant Saver or Capital on Tap are the relevant alternatives.
Methodology and Disclosure
Data sources: We reviewed Aldermore’s savings products, rates, eligibility, and terms at aldermore.co.uk in April–May 2026. We verified FSCS protection against the FSCS register and FCA authorisation against the FCA register. We did not use comparison site data for factual claims.
Verification date: Rates, eligibility, and product terms verified against aldermore.co.uk, April–May 2026. Variable rates may have changed since verification. Confirm all terms at aldermore.co.uk before opening an account.
Affiliate disclosure: BusinessExpert may receive referral fees from Aldermore and other providers on this page. We maintain the same editorial assessment and rate comparisons regardless of referral relationships. Read our full editorial policy.