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Compare Aldermore savings accounts: ISAs and fixed-rate bonds

Is Aldermore the right savings account provider for you and your savings?

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Chris Lilly
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Aldermore is a bank that serves small and medium-sized enterprises (SMEs), homeowners, landlords and consumers. Founded in May 2009, it offers a range of savings accounts and individual savings accounts (ISAs). We’ve compared them below.

Cash ISAs

Table: sorted by interest rate, promoted deals first
Updated daily
Name Product Account type Withdrawals Min. opening balance Interest rate Apply link
Aldermore – 3 Year Fixed Rate Cash ISA
Aldermore
Cash ISA
Instant access (penalty applies )
£1,000
2% AER fixed for 3 years
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Aldermore – 2 Year Fixed Rate Cash ISA
Aldermore
Cash ISA
Instant access (penalty applies )
£1,000
1.9% AER fixed for 2 years
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Fixed-rate bonds

Table: sorted by interest rate, promoted deals first
Updated daily
Name Product Account type Withdrawals Min. opening balance Interest rate Apply link
Aldermore – 5 Year Fixed Rate Account
Aldermore
Fixed
Withdrawals not permitted
£1,000
2.25% AER fixed for 5 years
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Aldermore – 4 Year Fixed Rate Account
Aldermore
Fixed
Withdrawals not permitted
£1,000
2.2% AER fixed for 4 years
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What savings accounts does Aldermore offer?

Aldermore offer a variety of savings accounts:

Personal Savings Accounts

Fixed Rate Accounts

  • Fixed interest rates for a set period
  • Open an account with just £1,000
  • No fees or charges for day-to-day account services

Easy Access Account

  • Variable interest rate
  • Open an account with just £1,000
  • Add to your savings whenever you like
  • Access your money whenever you need it

Notice Accounts

  • Variable interest rate
  • Open an account with just £1,000
  • Add to your savings whenever you like
  • Access your money whenever you need it

Cash ISAs

Fixed Rate Cash ISAs

  • Split your ISA allowance between any of the Cash ISA products
  • Fixed interest rate for a set period
  • Make withdrawals whenever you need to
  • Open an account in minutes
  • Easily transfer ISAs from other providers

Notice Cash ISAs

  • Split your ISA allowance between any of the Cash ISA products
  • Make withdrawals whenever you need to
  • Open an account in minutes
  • Easily transfer ISAs from other providers

Easy Access Help to Buy: ISA

  • Only need £1 to open the account
  • Government bonus of 25% for purchase of property
  • Receive interest in addition to the Help to Buy bonus
  • Open an account in minutes
  • ISA flexibility doesn’t apply
  • For Government bonus, the property must have a purchase price of up to £250,000 (£450,000 in London).
  • Manage it online, by phone or by post

What is a 'cash ISA'?

A cash ISA is a savings account where you don’t pay tax on the interest you earn. That’s it! The tax-free bit is the only real difference.

Is it easy to switch to Aldermore?

Aldermore aims to make switching your account to them as straightforward as possible. To transfer your account to Aldermore, all you have to do is set up a new account with them and transfer your funds across from your account.

How do I decide which account is for me?

You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?

You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:

  • Interest rates
  • Fees (if there are any)
  • Access to cash (if you need quick access for instance)
  • Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)

Does Aldermore offer online or mobile banking?

Aldermore offers online banking, but does not have a dedicated mobile app.

Here are some of the basic features of Aldermore’s online banking service:

  • View rates and current balances for all of your accounts
  • View and print a transaction statement at any time.
  • Request withdrawals or transfers between your accounts
  • Open another account
  • Set a savings goal to help you work towards a target
  • Personalise accounts by changing the names or adding images

What are the benefits and drawbacks of banking with Aldermore?

The benefits

  • Online Banking. Your Aldermore savings account can be accessed online through the website. Even though it doesn’t currently have a dedicated mobile app, it’s website is optimised to perform on any device type.
  • Flexibility. Aldermore’s variety of accounts offers flexible options no matter what kind of savings you’re looking for.
  • Effortless and accessible. You can open an Aldermore savings account in just a few minutes.
  • FSCS protection. With Aldermore you have the peace of mind that comes from knowing your money is protected up to a total of £85,000 by the UK’s deposit guarantee scheme.

The drawbacks

  • Better rates elsewhere? Interest rates have risen slightly in recent months, but banks are typically slow to pass on the rise to savers. It helps to shop around to find out where you can get the best deal.
  • No high street presence. The era of high street banking is seemingly being replaced by online banking even for traditional banks. But if a high street presence is important to you perhaps Aldermore isn’t the way to go.

Our verdict

Aldermore Bank savings accounts include instant access, fixed-rate and tax-free options, so should cover your needs, whether you’re looking to save little and often or in big chunks. Read our savings reviews to make sure it’s right for you and see how it weighs up against other savings providers.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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2 Responses

  1. Default Gravatar
    DavidApril 12, 2018

    I have a savings account with you. I would like to add to it by cheque, could you email me the best way? Do I write the cheque to me or you?

    Reply
    • Avatarfinder Customer Care
      joelmarceloApril 13, 2018Staff

      Hi David,

      Thanks for leaving a question on finder.

      Please note that we are a comparison website and we do not represent any of the providers on our page. For your specific concern, you will have to contact Aldermore directly by going to the “contact us” section in their website.

      Cheers,
      Joel

      Reply
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