Aldermore

Aldermore

October 15, 2012 04:00 ET

Aldermore Launches One Year Fixed Rate Business Account With Access

LONDON, UNITED KINGDOM--(Marketwire - Oct. 15, 2012) - Those looking to find the best business account with Aldermore will be pleased to learn of the new One Year Fixed Rate Account with access, now offered by the Challenger Bank.

Not only can SMEs enjoy a market-leading rate of interest of 2.75% AER, they can also benefit from access of up to 25% of the account balance in one withdrawal during the term of the product. This is of real benefit to small businesses that have to make snap business decisions and need quick access to funds.

Problems with the Eurozone is significantly affecting small businesses, causing many to hoard cash for the future. This new account from Aldermore offers this security along with a high rate of interest, but also the peace of mind that comes with easy access to funds.

One Year Fixed Rate Account with access

The account is fully operational online, with the opening process usually taking no longer than 15 minutes. Funds can also be deposited by Faster Payments, BACs or CHAPs - meaning interest can start to be earned the day the account is opened.

Extensive independent research

This latest business savings account has been launched by Aldermore following extensive independent research which revealed that customers were inactive within the business savings accounts market, with 90% of those surveyed putting it down to feeling that interest rates on their accounts were not competitive.

Furthermore 80% felt there was no incentive to change business savings accounts as the process was too complicated.
This represents a straightforward solution from Aldermore, without the requirement for the customer to move their business bank account.

Aldermore's Managing Director of Savings, Simon Healy said: "Businesses have told us that they want to earn a great rate on their savings but are concerned that changes in economic conditions mean they may want access to their cash quickly.

"The combination of great rates with really easy, straightforward online account opening and access to funds has already proved very popular with small businesses and this new account should add to the appeal."

Click here for the best business savings at Aldermore.

About Aldermore

Aldermore is a new British bank and one of the best capitalised banks in the UK. With backing provided by AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley's Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and lends to homeowners and small and medium sized businesses.

Aldermore does not depend on the wholesale, securitisation or international capital markets and has not been involved in any banking activities or the marketing of any exotic products which have been the cause of problems for so many financial institutions.

As a British bank, Aldermore is regulated by the Financial Services Authority and is registered under the Financial Services Compensation Scheme, which means customers' savings are protected up to the statutory limit of £85,000 per person. Aldermore is also a member of the Council of Mortgage Lenders.

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Established in 2005, AnaCap is Europe's largest specialist private equity investment advisor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with more than EUR1 billion under management. AnaCap's funds invest in businesses with high growth potential and strong management teams. AnaCap works with management teams to improve infrastructure and business processes. It employs sophisticated, twenty-first century technology to create low cost, scalable, sustainable and highly digital based platforms. AnaCap's day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.

AnaCap's team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of AnaCap's portfolio.

The success of AnaCap's investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.

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