Business bank launches market-leading savings bond

04 July 2024

An award-winning specialist business bank has today launched a best-in-class savings bond to boost savers.

The new 1 Year Business Savings Bond with an annual rate of 5.20% AER underscores Redwood Bank’s commitment to providing unparalleled value to its business customers.

The Savings Bond offers a robust solution for businesses, as well as clubs and charities, looking to optimise their savings and strengthen their financial foundation. This competitive rate not only ensures higher returns on deposits but also reflects Redwood’s dedication to supporting the financial health and prosperity of its customers.

Jessica Darrah, Savings Senior Product Manager, said: “This latest product release showcases Redwood as a smart choice for SMEs and charities, offering real value to our customers and allowing them to make their money work harder for their business and communities.

“With leading market rates across our product suite, organisations have a choice across a range of products, offering flexibility to suit their savings needs without compromising on return.”

Redwood has won the Business Moneyfacts Best Business Variable Rate Deposit Award for six successive years. Earlier this year, it celebrated a £500m savings milestone as it continues to support SMEs and charities.

The 1 Year Business Savings Bond is easy to open and manage, making it an ideal choice for businesses of all sizes. The Bank’s commitment to customer service ensures that businesses will receive the support needed to make the most of their investments.

Towards the end of last year, it was announced that Redwood Bank’s parent company, Redwood Financial Partners Ltd (RFPL), had signed Heads of Terms for the reverse takeover of R8 Capital Investments plc (R8), a company listed on the London Stock Exchange, in 2024.

For further information, visit www.redwoodbank.co.uk.

Jessica Darrah, Savings Senior Product Manager, Redwood Bank