LHV Bank has partnered with Raisin UK to launch personal savings offerings in the UK, including fixed-term, notice, and easy-access savings accounts, with the aim of supporting SME lending and providing competitive rates.
Facts
- LHV Bank partners with Raisin UK to enter the UK personal savings market.
- The offering includes a 12-month fixed-term, 95-day notice, and easy access to savings accounts.
- LHV Bank plans to launch a direct-to-consumer savings product next year.
- Customer deposits are protected under the Financial Services Compensation Scheme (FSCS) up to £85,000.
- LHV Bank intends to support SME lending by providing financing to business owners.
- LHV Bank acquired the SME lending business of Bank North in October, offering loans to UK SMEs.
- Erki Kilu, CEO of LHV Bank, aims to introduce more competition and higher interest rates to the UK savings market through this partnership with Raisin UK.
