A&L business account pays 6%

Alliance & Leicester Business Bank (A&L) is offering 6% AER to small businesses opening a Free Business Current Account at the bank.

Aimed at SMEs with a turnover of up to £1 million, the account offers the headline rate for 12 months after account opening on balances up to £2,500.

Available immediately for a limited period, the account can be opened in any Alliance & Leicester branch

Ceri Henfrey, A&L’s head of business banking, said: “The Free Business Current Account is now providing a real return on surplus funds in the account.”

Henfrey urged small businesses to review their current banking arrangements to see if they would earn a higher interest rate at A&L.

Alliance & Leicester Business Bank was recently named ‘Business Bank of the Year’ by the independent finance guide Business Moneyfacts.

The Santander-owned bank also launched a new business bond this week, paying interest fixed at 3.2% gross per annum.

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