Bank of Ireland launches new savings solution to help businesses balance certainty with flexibility

 

 

Bank of Ireland is further enhancing its savings solutions for business customers with the launch of a new Flexible Business Deposit Account, designed to help businesses balance the need for certainty on returns with access to funds should an unexpected opportunity or cost arise.

The launch comes as many businesses continue to take a cautious approach to managing their funds and looking for ways to make more of the money they hold while keeping access to them should they need it.

The new account offers a fixed interest rate over a fixed term, alongside the flexibility to make one withdrawal of up to 25% of the account balance during the agreed term, providing businesses with access to a portion of their savings if required.

George Higginson, Managing Director, Everyday Banking at Bank of Ireland UK, said:

“We regularly hear from customers who want the certainty of a fixed return on their savings but who don’t want to lock away all of their funds. This account has been designed to gives businesses the confidence of a fixed return, while still allowing access to some of their money if their plans change.

Whether businesses are preparing for future investment, managing working capital requirements or simply seeking greater certainty over returns, having a choice of savings solutions is increasingly important. At Bank of Ireland, our role is to help customers find the right options to meet their business needs and ambitions.”

The Flexible Business Deposit Account is open to businesses with deposits ranging from £100,000 to £10 million with fixed term options of 6, 12, 18 and 24 months.

The new savings account is available to new and existing customers and complements Bank of Ireland’s wider business banking proposition which includes business current accounts, lending solutions and a range of savings offerings, tailored to support businesses at all stages of their journey.

Find out more about Bank of Ireland’s range of business deposits, including terms and conditions.