Treasury
•How Can I Benchmark My Interest Rate Yield?
With the Bank of England base rate currently sitting at 3.75%, many UK finance teams are now dedicating internal resources to drive interest yields, creating it as a new revenue centre.
Today’s Landscape
UK banks typically provide a business current account, which offers little to no interest. On average, we see rates of 0.8%.
Banks will often offer a separate business savings account, which sits alongside your current account. This should entertain a more generous interest rate, but typically we see this falling way short. Anything less than 3% should be addressed.
The Challenge
Pursuing different business savings accounts with different providers is not a productive use of time. Onboarding times can be slow, and successful application is not guaranteed, which can waste unnecessary time.
The Solution
We work with providers who give you access to the whole of market.
This means you can onboard once, and utilise a single platform to access cash management solutions and money market products.
This type of product has typically not been made available to UK businesses – it has been reserved for institutional-grade financial services firms.
You can use our treasury rate calculator to see what you could earn: Treasury Rate Calculator
Example
As an example, a balance of £500k sat in a high-street bank current account would earn £4,000 a year.
A 2-month fixed-term fund would pay out 3.77%* which would generate £18,850 in a fraction of the time.
You can use our treasury rate calculator to see what you could earn: Treasury Rate Calculator
*accurate as of 28th April 11:00 BST
