Aldermore Bank offers business savings accounts paying up to 4.16% AER on a 1-year fixed-term deposit. Unlike Allica, that rate has no conditions: no CASS switch, no minimum transaction volume, no welcome deposit threshold.
The easy access rate is 2.45% AER, well below Capital on Tap (3.82%) and Tide (up to 3.74%). If you need instant access, Aldermore is the wrong product. If you can commit for 12 months, the 1-year fixed is one of the strongest unconditional rates in the market.
Aldermore accepts UK-registered limited companies only. Minimum deposit is £1,000. We verified all claims on this page from aldermore.co.uk, the FSCS register, and the FCA register in June 2026.
Aldermore Business Savings at a Glance
Our Verdict
If your limited company has cash it will not 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 is the deal.
For flexibility before 12 months, the 95-day notice at 4.00% AER is worth a look, though its variable rate can shift mid-notice. For instant access, Capital on Tap or Tide pay more: Aldermore’s easy access sits at 2.45% AER, hard to justify when rivals pay over a point more.
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Best For
Limited companies with surplus cash that can be committed for 6 to 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
If you need your savings instantly available, Aldermore is the wrong choice. The easy access rate is 2.45% AER: Capital on Tap pays 3.82% and Tide pays up to 3.74%, both with no conditions attached.
Sole traders and partnerships are not accepted, full stop. US citizens and anyone not UK tax-resident are also excluded. And if you want to manage savings from a mobile app rather than a web portal, Aldermore won’t give you that either.
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) |
| 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?
How the Account Works
Aldermore is an FCA-authorised bank, not an e-money institution. Your deposits are held under Aldermore Bank’s own banking licence, not via a third-party custodian like ClearBank. FSCS protection of up to £120,000 applies under Aldermore’s own licence, independent of any other provider you use.
Aldermore runs four standalone products: easy access, 95-day notice, 6-month fixed, and 1-year fixed. No current account required, no CASS switch. We read the terms and found no behavioural conditions beyond eligibility.
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), which 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
| 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. | ||||
Key Differences Between the Available Accounts
The core trade-off is rate versus 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 is 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 are serving notice, the rate on your remaining balance changes. Fixed-term accounts lock your rate from the day you open.
Which Businesses Each Option May Suit
1-year fixed (4.16% AER): Limited companies with a cash reserve that will not 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. Think: a VAT reserve or a bonus fund unlikely to be needed before quarter-end. You serve notice in January, funds arrive in April. Rate is competitive. Access is planned, not immediate.
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, those alternatives pay materially more with no added conditions.
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
Current Interest Rates
Rates as verified at aldermore.co.uk, June 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 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 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.
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. We confirmed this from aldermore.co.uk in June 2026 and found no hidden charges in the product terms.
Deposit and Withdrawal Fees
No fees for depositing 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. No fee applies. The risk is illiquidity, not cost.
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
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, 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.
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
You manage the account through the Aldermore portal at aldermore.co.uk. No dedicated mobile app for business savings. From the portal you can check balances, move deposits, serve notice, and pull statements. It does the job, but it’s a website, not something you glance at on your phone.
If you want real-time notifications and in-app support chat, we’d 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’re earning on it.
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 emails you before the end date to confirm your instruction: roll over, transfer out, or switch product.
Your director logs in, selects the instruction, and funds return to the nominated account on maturity day. Clean exit, no friction.
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, so no branch visit is required. Processing time is typically 1 to 3 business days. We found no widespread complaints about unusual onboarding delays in Trustpilot reviews reviewed June 2026. Open an Aldermore savings account
Security, Regulation and FSCS Protection
Regulation and Authorisation
Aldermore Bank plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the FCA and the PRA. We cross-checked Aldermore’s FCA registration in June 2026 at register.fca.org.uk. Verify current authorisation there before depositing.
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) sit in a separate FSCS pool from your Aldermore deposits. We highlighted this in our comparison: hold £120,000 with Aldermore and £120,000 with Tide and you have £240,000 covered across two independent 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 June 2026 (4.5 out of 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. Aldermore contacts you before maturity to confirm your rollover or withdrawal preference. No surprises at month-end.
Common Complaints
Common complaints across Aldermore’s product range: occasional delays in account opening (typically 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 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 to 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 such as rate confirmation, balance check, or 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.
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’d split 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 is 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 will not or cannot do a CASS switch, Aldermore’s 1-year fixed at 4.16% AER is the simpler and higher-rate choice. No behavioural conditions. No transaction monitoring required.
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 cannot 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. You get 4.16% AER, FSCS protection, nothing to game: no CASS switch, no transfer count, no rate that halves if you miss a condition. 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 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.
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 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, 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 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 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
What we assessed. 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.
Data sources. We checked Aldermore’s pricing page, product terms, and account documentation directly in June 2026. No comparison sites, no press releases, no affiliate material. FSCS register and FCA register cross-checked for regulatory status and FSCS confirmation.
Update cadence. 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.