Warrington’s bank comes top of “savings table”

WARRINGTON-based Redwood Bank has topped the guaranteed fixed rate savings table with the launch of their new one-year bond.
The challenger bank has unveiled its first One-Year Business Savings Account, paying a competitive 1.71 per cent AER, becoming the top-paying one-year savings account, and offering a guaranteed return for businesses and charities.
This generous rate puts Redwood Bank in a market leading position in the one-year fixed bond market.
The account is specifically developed for British businesses, charities, clubs, associations and societies nationwide, and can be opened online or by post.
Redwood’s account has a starting balance of £10,000, with a maximum balance of £1 million, and allows multiple top-ups within the first 14 days.
Co-founder and chief executive officer Gary Wilkinson, said: “We’re pleased to offer British businesses a new top guaranteed one-year bond. Our business mortgages are proving very popular which, in turn, means we can offer an attractive rate to our savers.
“British businesses deserve better, and our research shows that this is the highest one-year business bond savings account rate, offering a guaranteed return, that has been on the market for over three years. Business savers win with our new account.
“The simplicity of account opening, combined with the excellent rate, means our One-Year Business Savings Account will be an attractive option, enticing and enabling many businesses, charities and other organisations to benefit from a top guaranteed return on their savings.
“Everything we do is about supporting British businesses, helping them navigate the ever changing financial and business landscape. Our new account provides security, peace of mind, a guaranteed return at a top rate, which is exactly what our customers have told us they’re looking for in a new bond.”