According to the lender, the offering provides customers with a competitive rate for their short-term savings goals.

The personal savings product is available at 0.7%.

Ewan Edwards, director of savings at Aldermore, said: “During the current period of uncertainty and a further national lockdown it is important that savers get their money working for them for the future.

“The 120-day notice accounts are particurlay useful for people who might have had their plans disrupted over the summer due to the pandemic, enabling them to save money for next year when they are able to use it.

“Aldermore offers a variety of straightforward and competitive products that provide choice to complement whatever the goals of savers are, big or small.”