December saw the bank’s first personal savings product.
Starling Bank launched its first business savings program.
SME clients can get a one-year fixed saver with a 2.5 percent interest rate on balances of £2,000 or more.
Account users may transfer funds instantly in-app or online using the new functionality.
The fixed savings program locks in funds for a year and pays out interest afterward.
“We launched our first savings product for personal customers just over a month ago, now it’s time to reward our business account holders with guaranteed returns, especially in this period of economic uncertainty,” Starling CEO Anne Boden said.
Starling’s inaugural savings product offered users a 3.25 percent interest rate on one-year fixed-term deposits in mid-December.
The program is available on deposits between £2,000 and £1m and joined Starling to the list of fintechs focusing on savings in 2023.
As inflation rose, Chase, Zopa, and Revolut all offer personal savings accounts.
