Allica revamps business savings to offer market-leading rates and reward business savers

Fintech challenger bank Allica rewards SME business savers with boosts to rates across its business savings range:

• The Business Rewards Account instant-access Savings Pots rate will increase from 3.85% to 4.33% AER (variable)
• Easy-access business savings account increase from 3.65% to 4.00% AER (variable)
• One-year fixed-term business savings account rate increase from 5.10% to 5.15% AER (variable)

Allica continues to champion leading rates, following its recent report highlighting the savings squeeze between big business and SMEs, accounting for £7.5bn in missing interest. The challenger bank is the UK’s only full-service fintech bank solely focussed on established SMEs. It is the UK’s fastest-growing tech company over the past three years and is the UK’s fastest growing fintech ever. Allica launched its business current account – the Business Rewards Account– last year, offering cashback rewards and competitive savings rates with relationship manager support and no monthly fees.