Redwood Bank is a specialist UK business bank, and its savings range is built for cash you can plan around, not cash you might need tomorrow. There is no easy-access account: you choose a notice account or a fixed bond, and the rate rises the longer you can 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 GBP 1,000,000, and there are no monthly or transaction fees.
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 in June 2026, with the licence checked on the FCA register (FRN 755924). Notice rates are variable; confirm the current figures before you apply.
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 |
| Minimum deposit | £10,000 per account |
| Maximum balance | £1,000,000 per account |
| Account fees | None (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, sole traders, charities; SPV and property-friendly |
| Rates checked | June 2026, redwoodbank.co.uk |
| Notice-account rates are variable; fixed-bond rates are locked for the term. Verified against redwoodbank.co.uk, June 2026. Confirm current rates before applying. | |
Our Verdict on Redwood Bank Business Savings
Treat Redwood as a planning tool, not a parking spot. It offers no easy-access account at all: 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. For a property or SPV company other banks stall on, that pairing is rare.
Best for: a planned reserve you will not touch for months, a VAT set-aside or retained profit, and property or SPV companies that want a bank comfortable with their structure.
Not ideal for: a working float you might need next week. There is no instant access on any product, and the £10,000 minimum shuts out smaller or short-term reserves.
Key drawbacks: no easy access, full stop. The £10,000 entry point beats 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 and charities, with a genuine welcome for property and SPV businesses.
- No monthly fees and no transaction charges to chip away at the return.
- No easy-access account at all; 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: a young specialist bank with only around 40 Trustpilot reviews.
- 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 at any rate.
| Account | Rate (AER) | Access | Deposit range |
|---|---|---|---|
| 35-Day Notice Account | 3.55% variable | 35 days’ notice to withdraw | £10,000–1,000,000 |
| 95-Day Notice Account | 3.85% variable | 95 days’ notice to withdraw | £10,000–1,000,000 |
| 1-Year Fixed Rate Business Bond | 3.90% fixed | Locked for 12 months | £10,000–1,000,000 |
| 2-Year Fixed Rate Business Bond | 4.25% fixed | Locked for 24 months | £10,000–1,000,000 |
| Verified against redwoodbank.co.uk, June 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.
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 is funded within a set window after opening.
How withdrawals work. Everything routes back through that same nominated account. On a notice account you submit a withdrawal request and the funds release after 35 or 95 days; on a fixed bond there is 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 on any product, 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.
Fees, Charges and Limits
There is little to weigh on cost: Redwood charges no monthly fee and no transaction fees on any savings product. The only real constraint is access, not money. What matters most is the deposit range and the notice or term you sign up to.
| Charge or limit | Detail |
|---|---|
| Monthly account fee | None |
| Transaction / withdrawal fees | None |
| Minimum deposit | £10,000 per account |
| Maximum balance | £1,000,000 per account |
| Early access on bonds | Not available until maturity |
| Notice to withdraw | 35 or 95 days, by account |
| Verified against redwoodbank.co.uk, June 2026. | |
Eligibility and Application
You can open an account as a limited company, a partnership, a sole trader or a charity. That is broader than several rivals, which quietly shut sole traders out.
The real differentiator is property. If you run an SPV holding deposits between completions, Redwood understands the structure where a high-street bank might freeze the application for review.
We rate that welcome as the reason many property businesses land here. Check current eligibility for your structure before you apply.
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.
Customer Reviews and Reputation
Read the score with real caution, because the sample is tiny. When we checked in June 2026, Redwood held around 4.5 out of 5 on Trustpilot, a good rating, but from only about 40 reviews, far too few to draw firm conclusions from.
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 property and SPV focus and its own-licence FSCS separation. 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 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 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 June 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?
No. Redwood deliberately offers only notice accounts (35-day and 95-day) and fixed bonds (1-year and 2-year). There is no instant-access option, 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. The minimum is higher than easy-access rivals such as Recognise Bank, which starts at GBP 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, sole traders and charities can all apply. Redwood is notably comfortable with property and SPV businesses that some savings banks treat warily. 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.
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 and terms were checked product-by-product on redwoodbank.co.uk in June 2026, with the banking licence cross-referenced on the FCA register (Redwood Bank Limited, FRN 755924) and the FSCS limit confirmed 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.