RaboDirect offers business accounts

RaboDirect, part of the Rabobank Group has entered the business savings market for the first time in Ireland with the launch of its business savings account.

The instant access facility offers the same 4% AER rate of interest to all business customers regardless of size or deposit amount and is available to sole traders, partnerships, solicitors and private limited companies alike.

As with all RaboDirect savings products, no minimum terms or deposits apply and there are no complicated rate structures.

There are no bank charges and interest is calculated daily and there are no penalties or time delays for early withdrawals.

Last night the bank said it plans “to inject fresh competition into the SME market where banks have been profiting from inertia and SME’s need to have easy access to savings”.