Aldermore savings rates — compare every account, plus switch offers and guides

Who they are

Aldermore Bank is a specialist bank providing financial services to small and medium-sized businesses and personal customers, founded in 2009. It was one of the first new-wave banks to open after the financial crisis of 2007/8, built from the ground up with a deliberate focus on the customers that the big high-street banks often overlook. It was a constituent of the FTSE 250 Index until it was acquired by South African banking conglomerate FirstRand in March 2018. Aldermore Group is now part of FirstRand Group, the largest financial services group in Africa by market capitalisation. Aldermore is a digital bank with no branch network, serving customers and intermediary partners online and by phone.

On the safety side, Aldermore holds its own banking licence, which is not shared with any other bank. The FSCS will compensate deposits up to a total of £120,000 - notably higher than the standard £85,000 limit most savers are used to seeing.

Savings accounts

Aldermore offers one of the broader savings ranges among UK challenger banks. The fixed-rate lineup runs from 9 months all the way to 5 years, with rates currently sitting between 4.15% and 4.65% AER, and a £1,000 minimum to open. The same terms are available wrapped inside a Cash ISA, with rates from 4.03% on a 9-month fix up to 4.75% on a 3-year fix - useful if you have ISA allowance to shelter.

Beyond fixed rates, there is a 45 Day Notice Account, a Regular Saver from just £25 a month, and a pair of "Reward" ISAs with limited withdrawal windows. The Double Access Account and its ISA equivalent suit savers who want variable-rate flexibility but are happy to cap withdrawals to keep the rate competitive. The instant-access Easy Access Account and Easy Access Cash ISA are there if you need full flexibility, though their rates reflect that.

There are no switch bonuses or introductory rate periods to keep track of here - what you see is what you get for the term.

Is it right for you?

Aldermore is rarely the absolute best buy, but it consistently offers competitively priced savings above those available from the big five banks. The real appeal is the range. The lineup is well suited to savers who want to spread money across different terms, use a Cash ISA wrapper, or lock in for longer without hunting across multiple providers.

The lack of branches and the £1,000 minimum on most accounts are worth keeping in mind if you are just starting out, though the Regular Saver's £25 minimum is a notable exception. If you want a single, reliable home for a decent lump sum - particularly one you are happy to fix for a year or more - Aldermore is well worth a look.

Rates change, sometimes quickly. Check the live figures on this page to see exactly where Aldermore stands against the rest of the market right now.