New savings accounts introduced to support local businesses
The Loughborough Building Society is supporting local businesses with the introduction of a wider range of brand new business savings accounts.
The region’s businesses continue to trade through tough market conditions and also experience low rates of interest on their current deposit accounts from providers. The introduction of a reduced corporation tax to 24% in April will come as a welcome boost to the region’s business margins.
The Society is helping businesses get the best return on their company deposits with the introduction of four competitive new and refreshed business instant access savings accounts, which are aimed at helping local small to medium sized companies.
Business customers can now manage their savings account at their local branch, with a quick and easy solution that provides instant access to their account, competitive rates of interest and friendly and personal service from the Society’s team of savings professionals.
For example, the new Instant access Client Deposit Account, which has been favoured by a number of local solicitors and is also suitable for businesses including estate agents and accountants, features competitive interest rates on savings up to 0.65% for balances between 0.25m and 1.5m. A new instant access Designated Client Deposit Account has also been introduced with attractive interest rates for clients of 1.5% for accounts with a maximum balance of £0.5 million.
The Society has created a competitive Business Instant Access Deposit Account, which features interest rates between 0.65% - 1.5% for maximum balances of £0.5 million. A Trustee Deposit Account is also a new addition to the business range and includes an attractive interest rate of 1.5% for balances up to £0.5 million. Those with higher balance enquiries should contact their local branch.
Gary Brebner, CEO of The Loughborough, says “We appreciate that businesses in the region are experiencing a very tough trading climate, this has been made even more challenging by the low rates of interest offered on their deposits from various other providers. We recognise these challenges and have developed a range of solutions for the local business community to provide a more competitive option to support their businesses with higher rates of interest.”
For more details of The Loughborough’s new business savings accounts and products customers can visit their local branch or telephone the Society’s professional and friendly savings team on 01509 631960 to talk through the best options available to their suit business requirements.