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.
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 →The rate is unconditional; the catch is the 12-month lock and limited-company-only eligibility.
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 | 3.87% AER (fixed) |
| 1-year fixed rate | 4.40% AER (fixed) |
| Tiered easy access (Issue 1) | 3.80% AER at £500k+ (1.90% below) |
| Minimum deposit | £1,000, except tiered easy access at £500,000 |
| Maximum deposit | £1,000,000 per account |
| FSCS protection | Up to £120,000 (Aldermore Bank licence) |
| Monthly fee | None |
| Current account required | No Aldermore account; a linked business current account elsewhere: yes |
| Current Account Switch Service (CASS) required | No |
| Eligible business types | UK-registered limited companies only |
| Interest payment | Your choice at opening: monthly or annually (fixed accounts: monthly, annually or at maturity) |
| Rates verified from aldermore.co.uk, 15 September 2026. FSCS register and FCA register checked 7 August 2026. | |
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 five account types, each standalone: easy access, tiered 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, this is the wrong place to park it. 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 early access only in exceptional circumstances, at Aldermore’s discretion and with an interest deduction (up to 90 days on the fixed accounts, 95 days on the notice account). Before committing, make sure you have a separate working-capital pot you can reach at short notice. Open an Aldermore savings account
Interest builds up daily on all accounts, and you choose how it is paid when you open each one (monthly, annually or at maturity on the fixed accounts).
All the rates quoted here are AER (Annual Equivalent Rate), a standard way of comparing savings accounts across different compounding frequencies.
Aldermore publishes the gross figures alongside the AER, and we read both off every account’s summary box.
| Account | AER | Gross annual | Gross monthly |
|---|---|---|---|
| Easy Access (Issue 14) | 2.45% | 2.45% | 2.42% |
| Easy Access Tiered (Issue 1), £500k or over | 3.80% | 3.80% | 3.74% |
| Easy Access Tiered (Issue 1), below £500k | 1.90% | 1.90% | 1.88% |
| 95-Day Notice (Issue 3) | 4.00% | 4.00% | 3.93% |
| 6-Month Fixed | 3.87% | 3.83% | 3.76% |
| 1-Year Fixed | 4.40% | 4.40% | 4.31% |
| Read from each account’s summary box at aldermore.co.uk, 18 August 2026. | |||
Two things follow from that table. Taking your interest monthly means taking the lower rate on every account Aldermore offers, which is what it costs to draw the money as income rather than wait for it. And the 6-month bond is the one line where the AER sits above the rate you are actually paid, because an AER annualises a six-month return: over the six months you hold it, £10,000 earns roughly £192 before tax, not the £383 a full year at 3.83% would give you.
Aldermore Business Savings Products
| Product | Rate (AER) | Type | Min deposit | Access |
|---|---|---|---|---|
| Easy Access (Issue 14) | 2.45% variable | Variable | £1,000 | Instant |
| Easy Access Tiered (Issue 1) | 3.80% at £500k+, 1.90% below | Variable | £500,000 | Instant |
| 95-Day Notice (Issue 3) | 4.00% variable | Variable | £1,000 | 95-day notice |
| 6-Month Fixed | 3.87% fixed | Fixed | £1,000 | No early access |
| 1-Year Fixed | 4.40% fixed | Fixed | £1,000 | No early access |
| Verified from aldermore.co.uk, 18 August 2026. | ||||
Aldermore sells its variable-rate accounts in numbered issues, and the rates above belong to the issues currently on sale: Easy Access 14, Easy Access Tiered 1 and 95-Day Notice 3. If you opened yours under an earlier issue, it may pay something different, so check the figure in your own portal before you use this page to decide anything.
The core trade-off across all five accounts is rate versus access. Higher rates require you to commit your money for longer, and fixed-term accounts allow early exit only in exceptional circumstances, at Aldermore’s discretion and with an interest deduction.
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. A rate rise during the term will not benefit you either, and you cannot normally access the money before maturity.
We match each account below to the kind of money it suits, because what decides this is when you need the cash back rather than the headline rate.
1-Year Fixed (4.40% AER)
The highest rate Aldermore offers, and the most straightforward: deposit at least £1,000, earn 4.40% 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 good 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 (3.23% ongoing, or 3.82% for a new customer’s first 60 days) and Tide (up to 3.25% on its Max plan after a four-month welcome rate) pay.
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. £80,000 placed in an Aldermore 1-year fixed at 4.40% AER earns about £3,520 at maturity, against nothing in a current account. Keep a separate working-capital pot so the fixed money stays untouched.
Rates and Returns
The headline rate is the 1-year fixed at 4.40% AER (Annual Equivalent Rate). For a business sitting on cash it won’t need for a year, that is a return a current account would not pay.
The 1-year fixed is the best case for Aldermore. We calculate: at 4.40% AER, a £100,000 deposit earns approximately £4,400 over 12 months before tax. On £50,000, that is approximately £2,200.
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, the fixed account is the better home for money you can lock away.
We calculate that £60,000 held for 12 months at 4.40% AER earns about £2,640 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.
When interest is paid. The terms have moved, and not the way you might assume. Aldermore calculates interest daily and lets you choose monthly or annual payment on the notice account, or monthly, annually or at maturity on the 6-month and 1-year fixed accounts.
You pick the frequency when you set the account up and cannot change it after, so a business that wants the interest as monthly income has to say so at the start. We confirmed this from the product summary on 7 August 2026.
Fees and Charges
There are no fees or charges for standard account services on Aldermore business savings products. Aldermore may charge for exceptional, non-standard services offered at its discretion. We confirmed this from aldermore.co.uk on 7 August 2026.
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 does not normally allow early withdrawal. In exceptional circumstances it may, at its discretion, and deduct 90 days’ interest. So the risk is being unable to reach the money, not being charged for it: treat a fixed term as cash you will not need until maturity.
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: an Aldermore eligibility condition (it also applies to controlling persons and significant owners, not just directors). Sole traders won’t qualify.
Sole traders, partnerships, charities and trusts are not accepted; we confirmed limited-company-only eligibility at aldermore.co.uk on 7 August 2026. If you are a sole trader, Tide accepts you and pays a competitive instant-access rate.
Open an Aldermore savings account
Deposit limits. Minimum deposit £1,000 (£500,000 for the Tiered Easy Access account), maximum balance £1,000,000 per account. A business with more than that to place has to spread it across accounts, and in any case FSCS cover stops at £120,000.
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.
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, next to an app-first provider it will feel dated. 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.
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.
The account opens once Aldermore has completed its checks. Open an Aldermore savings account
Security, Regulation and FSCS Protection
Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under Financial Services Register number 204503.
We took that number from Aldermore’s own published footer on 7 August 2026. It names the entity holding your deposit: your money sits under Aldermore’s own banking licence, not a partner bank’s.
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.
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.
In the reviews we read, the pattern was consistent: the rate stays locked, the funds arrive on maturity as promised, and opening is straightforward. 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.
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.
Worth reading that 4.5 with one caveat: it comes from businesses that made it through account opening, not from everyone who applied. A business turned down at the eligibility or ID-check stage has nothing to review. The score is a fair read on what happens once you are through the door, not a mass-market sample of every applicant.
Customer Support and Service
You can reach Aldermore by phone on 01733 821 321, 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 3.75% AER for the first four months (on balances up to £1m), then a plan-based rate of 2.00%–3.25% AER: no CASS switch, no minimum transaction volume. The rate is plan-dependent: 2.00% AER on the Free plan, rising to 3.25% AER on Max. 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. Our view: take the Aldermore 1-year fixed (4.40% 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 should choose Tide instead: 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 3.23% AER on an ongoing basis; its headline 3.82% AER is a 60-day welcome rate, so 3.23% is the figure that matters over a year. 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, Capital on Tap’s ongoing 3.23% beats Aldermore’s easy access (2.45%) by 0.78 points, about £780 a year on £100,000. Its 3.82% rate applies only for the first 60 days, so it adds a little more in year one.
If rate maximisation over 12 months is the priority and you qualify for Aldermore (limited company), the 1-year fixed at 4.40% AER is the better 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 (4.40%).
For businesses that won’t or can’t do a CASS switch, Aldermore’s 1-year fixed at 4.40% AER is the simpler and higher-rate choice. There are no ongoing activity requirements once the account is open.
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.
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.
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 is the relevant alternative (Capital on Tap Savings does not accept sole traders).
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, which accepts sole traders and pays a competitive instant-access rate. Capital on Tap savings is limited companies and LLPs only. Confirmed at aldermore.co.uk, 7 August 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 are designed to run to maturity. In exceptional circumstances Aldermore may allow early withdrawal at its discretion, deducting up to 90 days’ interest. 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.
What is the minimum deposit for Aldermore savings?
£1,000 across all Aldermore business savings products, except the tiered easy access account, which starts at £500,000. There is no minimum ongoing balance requirement. The maximum balance is £1,000,000 per account, and the FSCS still only covers £120,000 of it. Checked on 15 September 2026.
How do Aldermore rates compare to Allica Bank?
Aldermore 1-year fixed: 4.40% 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 (3.23% ongoing, 3.82% for its first 60 days) and Tide (up to 3.25%).
How we reviewed Aldermore Business Savings
We evaluated Aldermore on what actually decides the return here: the five-account rate ladder (easy access, tiered easy access, 95-day notice, 6-month and 1-year fixed), which rates are fixed and which can move, the fees, the limited-company-only eligibility, and whether the FSCS protection sits on Aldermore’s own licence.
We checked Aldermore’s pricing page, product terms, and account documentation directly on 7 August 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 regularly, 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.