British challenger Allica Bank has announced that it has paid more than £100m ($132m) in savings interest to customers holding business bank accounts.
More than half of the total was paid during 2026, according to the UK-based bank.
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It attributed the payments to demand for its Business Rewards Account among established businesses.
The bank said its analysis of six major banking providers (Barclays, Nationwide, HSBC, Lloyds, NatWest and Santander) found that the average instant-access savings rate on a £75,000 business deposit was 0.80% annual equivalent rate (AER).
In contrast, Allica’s standard Savings Pot rate is 2.83% AER. Eligible customers can receive additional conditional and time-limited rate increases, taking the maximum advertised rate to 4.08% AER, it added.
Allica works with accountants through a dedicated accountancy partnerships team. According to the lender, this helps to provide “better support the UK’s established businesses”.
Allica Bank CEO Richard Davies said: “Established businesses have been getting a poor deal on their cash from the big banks for too long.
“These are businesses working hard to grow, create jobs and support their local economies. They shouldn’t have to settle for their hard-earned money doing so little for them.
“Paying our customers more than £100m in interest from their Savings Pots shows what’s possible when you build a bank specifically to support established businesses.
“This is real money going back into the hands of businesses who are such a critical part of the UK economy and their local communities.”
