Aldermore announces savings product rate rises

From Friday, the 1 year fixed rate account has a rate rise of 1.90% from 1.75%, while the 2 year fixed rate account is at 1.95% from 1.85%.

The bank will also be making some changes to two of its ISA products:

 - 2 Year Fixed Rate Cash ISA – 1.75% from 1.85%

- 3 Year Fixed Rate Cash ISA – 1.85% from 2.00%

Last week, Aldermore released its latest results (Q1 2015) showing total deposits now stood over £4.7 billion.

Commenting on the changes Simon Healy, Managing Director for Savings, at Aldermore said:

“This week marks six years since Aldermore launched and I am delighted that from the beginning we provided simple and straightforward savings accounts that offer consistently good returns. I hope savers find today’s rates just as attractive.

“It is important for savers to remember in the current environment, if they want to get the best rate and make the most of their savings, then they need to shop around and check rates from banks like Aldermore. Staying loyal to some of the high street banks could unfortunately prove costly in the long run.”