Green lender Tandem Bank joins Raisin’s UK savings account panel

Alternative loansSavings and investment

The bank aims to tap into a more diverse source of deposits through Raisin.

Image source: Susie Aliker (right)/CEO of Tandem Bank.

Tandem Bank is looking to diversify its deposit collection channels through a partnership with savings market Raisin UK.

The tie-up will see Tandem’s fixed-term and instant-access savings accounts listed on Raisin, but the bank says it hopes to list more products on Raisin in the future.

Raisin’s distribution partnerships also mean that Tandem’s products will end up on Aviva’s Save platform and AJ Bell’s Youinvest hub.

“With the cost of living crisis, Britons are understandably keen to seek out the best rates for their hard-earned money, and they now have the choice of coming directly to Tandem or accessing Tandem’s savings products through the Raisin market,” said Ben Mitchell, director of savings at Tandem Bank.

Tandem is in the midst of a transformation from credit card provider to green lender, with the acquisition of green real estate lender Allium and consumer lender Oplo.

The bank will launch Raisin with rates including a one-year fixed rate at 2.75% and a five-year fixed rate at 3.15%.

“Many of our savers are looking for a savings provider that is committed to providing fairer and greener financial choices complemented by a great online experience and Tandem is a perfect fit,” said Kevin Mountford, co-founder of Raisin UK.

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