Masthaven has announced the launch of its business savings account.
From today (12th September), business customers can save between £5,000 and £500,000 from six months to five years, while choosing exactly when their account matures through Masthaven’s option to ‘set your own term’, with rates for the one-year account offering 1.65%.
Simon Furnell, chief operating officer at Masthaven (pictured above), said that the launch of the business savings account would see it move towards becoming an SME bank, as well as a retail bank.
“Since we launched in 2016, we’ve welcomed over 13,000 new savings customers to the bank, and now we are extending our savings range to welcome businesses who prefer to bank differently.
“Just like our savings accounts, our business savings proposition is competitive, innovative, easy to use, online and backed by our experienced savings specialists.”
Simon highlighted that its SME customers would be able to personalise their fixed term and manage their maturity options online, meaning the customer would be able to choose and manage a product to fit around their needs quickly and efficiently.
“Our business customers won’t all be the same – they’ll be living, breathing organisations, which is why our product blends technology and human experience to deliver a nuanced product that meets their needs,” Simon concluded.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
FP Show partners with Mortgage Sleep Out
The Finance Professional Show (FP Show) is lending its support to Mortgage Sleep Out, with the event hosting a number of initiatives to raise awareness and sponsorship for the charity fundraiser...
Gatehouse Bank strengthens specialist finance team
Gatehouse Bank has hired Zeenat Shaffi (pictured above) as a business development manager for its growing specialist finance team...
Close Brothers director to retire
Close Brothers Group PLC has announced that Elizabeth Lee, group head of legal and regulatory affairs, will retire from her executive director position at the end of the 2019 financial year...
Kent Reliance appoints two new senior BDMs
Kent Reliance – part of the OneSavings Bank Group – has appointed two new senior BDMs as it expands its nationwide offering...
Coutts partners with Mortgage Brain to offer products to intermediaries
Private bank Coutts has partnered with Mortgage Brain to make its products available – via the latter’s platforms – to UK intermediaries...
Charter Savings Bank launches two new accounts
Charter Savings Bank has introduced two new accounts: a 95-day notice account and a three-year fixed rate cash Isa...
FP Show reveals its largest and most diverse conference programme
The Finance Professional Show has confirmed its largest conference programme to date, hosting a selection of varied sessions throughout the event next month...
47% of SMEs prepared to move away from traditional banks
Almost half of SMEs in the UK (47%) would move to a challenger/digital bank or non-banking brand if they decided to switch, according to the latest research by Unisys Corporation...
Monese launches business account
Monese has launched a business account in the UK which will be bundled with its personal banking account...
Metro Bank provides £14m facility to support London office acquisition
Metro Bank has provided Kingsway Properties London with a £14m investment facility to support the acquisition of a five-storey office building in central London...
Tandem introduces new credit card blocking feature
Tandem has created a new card-blocking feature for its banking app which allows customers to react instantly to a misplaced card...