Redwood Bank is a specialist UK business bank, with a savings range built for cash you can plan around, not cash you need tomorrow. There is no easy-access account in its public range: you choose a notice account or a fixed bond, and the rate rises the longer you commit.
The ladder runs from 3.55% AER on the 35-day notice account to 4.25% AER on the two-year bond, with the 95-day notice account (3.85%) and the one-year bond (3.90%) in between. Every product takes deposits from £10,000 up to £1,000,000, and no monthly or transaction fees are listed.
What you give up for those rates is access. A notice account makes you wait 35 or 95 days for your money; a fixed bond locks it until maturity. The £10,000 minimum is also higher than easy-access rivals like Recognise Bank, which starts at £1,000.
One thing that sets Redwood apart on safety: your deposit sits on Redwood’s own banking licence, so its FSCS protection is independent of the ClearBank pool that Tide and Capital on Tap share. For a business spreading a large reserve, that separation matters.
Rates are correct as verified against redwoodbank.co.uk on 17 August 2026, with the licence checked on the FCA register (FRN 755924). Notice rates are variable.
Redwood Bank Business Savings Account at a Glance
| Feature | Detail |
|---|---|
| Top rate | 4.25% AER (2-year fixed bond) |
| Account types | 35 and 95-day notice accounts; 1 and 2-year fixed bonds |
| Access | Notice (35 or 95 days) or fixed term; no easy access in the public range |
| Minimum deposit | £10,000 per account |
| Maximum balance | £1,000,000 per account |
| Total savings per customer | £2,000,000 across all Redwood savings accounts |
| Bond funding window | 14 days from opening (fixed bonds) |
| Account fees | None listed (no monthly or transaction fees) |
| Interest paid | Monthly or annually (your choice) |
| FSCS protection | Up to £120,000 on Redwood’s own licence |
| Provider / licence | Redwood Bank Limited (FCA FRN 755924) |
| Eligibility | Limited companies, partnerships and LLPs, sole traders, charities, clubs and societies |
| Rates checked | 17 August 2026, redwoodbank.co.uk |
| Notice-account rates are variable; fixed-bond rates are locked for the term. Verified against redwoodbank.co.uk/savings, 17 August 2026. | |
Our Verdict on Redwood Bank Business Savings
Treat Redwood as a planning tool, not a parking spot. It offers no easy-access account in its public range: you pick a 35-day (3.55% AER) or 95-day (3.85% AER) notice account, or a fixed bond at 3.90% for one year or 4.25% AER for two.
We rate it a strong fit if you can set cash aside, and the protection higher still. Your deposit sits on Redwood’s own licence, separate from the ClearBank pool Tide and Capital on Tap share. That separation is rare among savings providers of this size.
Best for: a planned reserve you will not touch for months, such as a VAT set-aside or retained profit you can commit for a better rate.
Not ideal for: a working float you might need next week. There is no instant access in the public range, and the £10,000 minimum shuts out smaller or short-term reserves.
Key drawbacks: no easy access in the public range. The £10,000 entry point is higher than easy-access rivals, and the public review record is thin for a young specialist bank.
Pros and Cons
Is Redwood worth it?
- Strong notice and fixed rates from a real, licensed bank, up to 4.25% AER on the two-year bond.
- Deposits held on Redwood’s own banking licence, so FSCS cover is separate from the ClearBank pool.
- Open to sole traders, partnerships, limited companies, charities and clubs, broader than several savings rivals.
- No monthly or transaction fees listed to chip away at the return.
- No easy-access account in the public range; every product ties your cash up by notice period or fixed term.
- £10,000 minimum deposit, higher than easy-access rivals such as Recognise Bank (£1,000).
- Thin public review record: about 44 Trustpilot reviews, and the score is bank-wide, not savings-specific.
- No card, no invoicing and no foreign currency; these are sterling deposit accounts only.
Redwood Bank Business Savings Accounts and Rates
Redwood splits its range into two notice accounts and two fixed-rate bonds. The rate climbs with the commitment: the longer the notice or the term, the more you earn. There is no easy-access tier in Redwood’s public range.
| Account | Rate (AER) | Monthly gross | Access | Deposit range |
|---|---|---|---|---|
| 35-Day Notice Account | 3.55% variable | 3.49% | 35 days’ notice to withdraw | £10,000–1,000,000 |
| 95-Day Notice Account | 3.85% variable | 3.78% | 95 days’ notice to withdraw | £10,000–1,000,000 |
| 1-Year Fixed Rate Business Bond | 3.90% fixed | 3.83% | Locked for 12 months | £10,000–1,000,000 |
| 2-Year Fixed Rate Business Bond | 4.25% fixed | 4.17% | Locked for 24 months | £10,000–1,000,000 |
| Verified against redwoodbank.co.uk/savings, 17 August 2026. Notice rates are variable; bond rates are locked for the term. Confirm before applying. | ||||
35 and 95-Day Notice Accounts
The notice accounts pay 3.55% AER at 35 days and 3.85% AER at 95 days, both variable. You can add money whenever you like. To withdraw, you file a request and wait out the notice before the funds release.
They suit a reserve you can see coming. If you know your VAT bill lands at quarter-end, 95 days’ notice is easy to plan around; you file the request in good time and the cash arrives before the deadline. The wait is the trade for the rate.
1 and 2-Year Fixed Rate Business Bonds
The bonds pay 3.90% AER over one year and 4.25% AER over two, locked for the term. There is no access before maturity. Only commit money you are confident you will not need.
In return you get Redwood’s highest rates and a fixed return you can bank on. That certainty helps when you are planning cash flow a year or two out, say a retained-profit pot earmarked for a future hire or purchase.
Is the extra interest worth giving up access? Often we would not. The step from the 95-day notice account to the one-year bond is the clearest case: on £50,000 it adds about £25 a year, and for that you lock the cash for a full year rather than 95 days.
| Product | AER | Approx. annual return on £10,000 | Approx. annual return on £50,000 | Approx. annual return on £120,000 |
|---|---|---|---|---|
| 35-day notice | 3.55% | £355 | £1,775 | £4,260 |
| 95-day notice | 3.85% | £385 | £1,925 | £4,620 |
| 1-year bond | 3.90% | £390 | £1,950 | £4,680 |
| 2-year bond (annualised) | 4.25% | £425 | £2,125 | £5,100 |
| Illustrative annual return across Redwood savings products at each AER, before tax. On £50,000, moving from the 95-day notice account to the one-year bond adds about £25 a year while removing access for the full term. BusinessExpert calculation from Redwood’s published AERs (redwoodbank.co.uk/savings), 17 August 2026. | ||||
How Redwood Bank Business Savings Works
How interest is paid. You choose whether interest is paid monthly or annually, which is handy if you want the income drawn off rather than compounded back into the balance.
How deposits work. Money moves in from your nominated UK business bank account, held in the same business name. You can top up a notice account whenever you like; a fixed bond must be funded within 14 days of opening.
How withdrawals work. On a notice account you file a request and the funds release after 35 or 95 days, as long as the £10,000 minimum stays in; requests after 4pm process the next working day. A fixed bond has no access until maturity.
Plan around that. If your payroll run is due and you need the cash flow back, you have to have filed the notice weeks earlier. The account will not rush for you.
Notice periods and fixed terms. This is the whole design. There is no instant access in the public range, so the wait, or the lock, is the price of the rate.
What can change the rate. Notice-account rates are variable, so Redwood can move them with the base rate or its own pricing. Fixed-bond rates are set for the term once your money is in.
What happens at maturity. Redwood writes at least 21 days before a bond matures, with an email reminder 14 days out. Give your instruction two working days before maturity. Without one, the money moves to a no-interest Redwood Call Account, then returns to your nominated account within 10 days.
Fees, Charges and Limits
We found little to weigh on cost: Redwood’s product pages list no monthly fee and no transaction fees on its savings accounts. The only real constraint is access, not cost. What matters most is the deposit range and the notice or term you sign up to.
| Charge or limit | Detail |
|---|---|
| Monthly account fee | None listed |
| Transaction / withdrawal fees | None listed |
| Minimum deposit | £10,000 per account |
| Maximum balance | £1,000,000 per account |
| Total savings per customer | £2,000,000 across all accounts |
| Bond funding window | 14 days from opening |
| Early access on bonds | Not available until maturity |
| Notice to withdraw | 35 or 95 days, by account |
| Verified against redwoodbank.co.uk/savings, 17 August 2026. | |
Eligibility and Application
You can open an account as a limited company, a partnership or LLP, a sole trader, a charity, or a club, society or association. That is broader than several rivals, which quietly shut sole traders out.
A property Special Purpose Vehicle (SPV) can open an account where it is an eligible UK limited company. Redwood is known for lending to property businesses, but it does not publish any special savings treatment for SPVs, so we treat this as an eligible-company question, not a preferential welcome.
Redwood publishes no list of accepted company structures beyond that, so an unusual structure is answered at application rather than before it.
Application is online or by post. You will need your business details, plus ID and address verification for the directors, partners and significant shareholders. These are the standard checks any deposit-taking bank runs.
One requirement to plan for: a nominated UK business bank account in the same business name. It funds the savings account and receives every withdrawal, so set it up first.
Account Access and Management
Redwood savings are deposit accounts, so day-to-day management is deliberately simple. There is no spending card and no current-account toolkit; you run the reserve and leave the operating banking to your main account.
- Manage the account online, with up to four authorised users able to view and operate it.
- Choose interest paid monthly or annually, useful if you want the income drawn off rather than compounded.
- Move money in and out only through your nominated UK business bank account, in both directions.
- No debit or spending card; these are savings products, so money moves by transfer, not by card.
- No invoicing, expense management or accounting integrations; pair Redwood with your operating account for those.
- No foreign currency or overseas payments; the accounts are sterling-only deposits.
FSCS Protection, Regulation and Security
Redwood Bank is a fully licensed UK bank (Redwood Bank Limited, FCA FRN 755924), authorised by the PRA and regulated by the FCA. That matters for your deposit: eligible savings are protected by the FSCS up to £120,000 per eligible depositor, the statutory limit since 1 December 2025.
The nuance we want you to catch is whose licence holds your money. Redwood takes deposits on its own banking licence. Its FSCS cover is independent of the ClearBank pool that backs Tide and Capital on Tap savings.
So if you are spreading a large reserve across providers to stay inside the limit, Redwood gives you a genuinely separate £120,000, not a share of someone else’s. That is the point people miss.
When your VAT reserve has to sit safely and earn for months, we weigh that full banking licence and its FSCS cover above any single feature.
How the £120,000 works for your business. The limit applies per eligible depositor, per banking licence, so how much cover you actually get depends on your legal structure.
| Your business | How the FSCS treats it |
|---|---|
| Limited company | A separate eligible depositor: its own £120,000, protected apart from the owners’ personal savings. |
| LLP | A separate legal entity: its own £120,000. |
| Sole trader | Business and personal deposits at the same bank share one £120,000 limit. |
| Several separate companies | Each company is its own eligible depositor, with its own £120,000. |
| Partnership (joint account) | Treated as one depositor: a single £120,000 across the partners. |
| General guidance based on the FSCS depositor rules (fscs.org.uk); confirm your own position with the FSCS. Checked 17 August 2026. | |
Customer Reviews and Reputation
Read the score with real caution: the sample is tiny and bank-wide. When we checked on 17 August 2026, Redwood held 4.6 out of 5 on Trustpilot from only about 44 reviews. That score covers the whole bank, weighted toward its lending customers, not its savings accounts.
Common praise: a straightforward application and competitive rates. Common complaints: the usual scattered notes about onboarding. There is simply not enough volume to call either a trend.
Read it as a young specialist bank with a thin public record but a full banking licence. When your reserve has to sit safely and earn for months, that licence and the FSCS cover behind it count for more than a 40-review score.
Redwood Bank Business Savings vs Alternatives
Redwood vs Recognise Bank
Recognise Bank is the natural alternative when access or a low entry point matters. It offers easy-access saving from just £1,000, against Redwood’s £10,000 minimum and notice-only range.
We split it by your cash. If you might need the money before payday, or you are starting a smaller reserve, Recognise fits better. If you can commit and want the higher fixed rates, Redwood pays more. That is the whole choice.
Redwood vs Cynergy Bank
Cynergy Bank also offers business savings with easy-access and notice options, so compare them on the current rate and on whether you value access over Redwood’s fixed-term certainty.
We rate Redwood’s edge as its own-licence FSCS separation and fixed-term certainty. Cynergy’s is a broader, more established savings range. Pick the one whose strength matches your reserve.
Redwood vs Capital on Tap
Capital on Tap savings offers easy access and a competitive rate. But it is backed by ClearBank, so its FSCS cover shares the same £120,000 pool as Tide and any other ClearBank-backed balance you hold.
Redwood’s own licence keeps its protection separate. If you are parking a large reserve and already hold a ClearBank-backed saver, that separation can be the deciding factor. It is the quiet difference that matters at scale.
We compare every option side by side in our best business savings accounts guide.
Is Redwood Bank Business Savings Worth It?
It comes down to whether you can commit the cash. If you can, Redwood is one of the stronger homes for a planned business reserve: real bank rates up to 4.25% AER, no published monthly or transaction fees, and FSCS protection on its own licence rather than a shared pool.
Picture an SPV holding £200,000 between completions, or a company setting aside VAT for the year. Locked into the two-year bond or held at 95 days’ notice, that money earns a strong, safe return it would earn nothing on in a current account.
But if the balance is a working float you might need to cover next week’s supplier run, Redwood is the wrong account. The notice wait is the point, and there is no easy-access option in the public range to fall back on.
For that money, an easy-access account like Recognise is the better fit. Match the product to your cash-flow plan, not the headline rate. That is the whole decision.
Frequently Asked Questions
What interest rates does Redwood Bank business savings pay?
As of 17 August 2026 (verified from redwoodbank.co.uk): the 35-day notice account pays 3.55% AER and the 95-day notice account pays 3.85% AER, both variable. The fixed bonds pay 3.90% AER over one year and 4.25% AER over two years, with the rate locked for the term. Every product takes deposits from £10,000 up to £1,000,000. Rates may have changed; confirm before opening.
Does Redwood Bank offer an easy-access savings account?
Redwood does not currently advertise an easy-access account in its main public business-savings range. It offers notice accounts (35-day and 95-day) and fixed bonds (1-year and 2-year), so it is the wrong home for cash you might need at short notice. If you want easy access, Recognise Bank and Cynergy Bank both offer it.
Is Redwood Bank business savings FSCS protected, and on whose licence?
Yes. Eligible deposits are protected by the FSCS up to £120,000 per eligible depositor. Redwood holds deposits on its own banking licence (Redwood Bank Limited, FCA FRN 755924), so its protection is independent of the ClearBank pool that backs Tide and Capital on Tap. That gives you a separate £120,000 if you are spreading a large reserve across providers.
What is the minimum deposit for Redwood Bank savings?
£10,000 per account, with a maximum of £1,000,000 per account and £2,000,000 in total across all Redwood savings. The minimum is higher than easy-access rivals such as Recognise Bank, which starts at £1,000, so Redwood suits a sizeable planned reserve rather than a small or starter balance.
Who can open a Redwood Bank business savings account?
Limited companies, partnerships and LLPs, sole traders, charities and clubs or societies can all apply. A property SPV can apply where it is an eligible UK limited company; Redwood does not publish special savings treatment for property companies. You apply online or by post and need a nominated UK business bank account in the same business name to fund the account and receive withdrawals.
What happens if my Redwood balance falls below £10,000?
On a notice account you must keep the £10,000 minimum in the account. If the balance drops below it, that account earns no interest for the period it is short. This is a balance condition, not a fee. You can withdraw any amount as long as the £10,000 minimum stays in place.
How long do I have to fund a Redwood fixed bond?
You have 14 days from opening to fund a fixed bond, and you can do it with one deposit or several within that window. After the funding window closes, the bond is locked at its rate for the term.
What happens when a Redwood bond matures?
Redwood writes to you at least 21 days before maturity with your options, followed by an email reminder at least 14 days out. Give your instruction at least two working days before the maturity date. Without one, the money moves to a Redwood Call Account that pays no interest, is held for up to 10 days, then returns to your nominated account.
Does a sole trader share an FSCS limit with personal savings?
Yes. For a sole trader, business and personal deposits at the same bank are treated as one depositor and share a single £120,000 FSCS limit. A limited company or LLP is a separate legal entity, so it has its own £120,000 apart from the owners’ personal savings.
How We Reviewed Redwood Bank Business Savings
What we assessed. We evaluated Redwood Bank business savings on the rate each product pays, access terms, minimum and maximum deposit, fees, eligibility and deposit protection, the factors that decide whether a planned reserve works harder here than elsewhere.
Data sources. Rates, terms, eligibility and customer-review figures were checked on redwoodbank.co.uk on 17 August 2026. The licence is cross-referenced on the FCA register (Redwood Bank Limited, FRN 755924) and the FSCS limit at fscs.org.uk. No comparison sites or aggregator data.
Update cadence. We re-verify this page whenever Redwood changes its rates, terms or eligibility, and the verification date reflects the most recent full review. BusinessExpert does not earn commission from Redwood Bank; see our editorial policy.