Oaknorth is a UK bank founded in 2015 by Joel Perlman and Rishi Khosia, founders of Copal Amba. They were inspired to start the company after coming up against challenges in gaining debt finance for that business from high street banks.
Oaknorth is a UK bank founded in 2015 by Joel Perlman and Rishi Khosia, founders of Copal Amba. They were inspired to start the company after coming up against challenges in gaining debt finance for that business from high street banks.
Oaknorth is a UK bank founded in 2015 by Joel Perlman and Rishi Khosia, founders of Copal Amba. They were inspired to start the company after coming up against challenges in gaining debt finance for that business from high street banks.
Oaknorth was only the third new retail bank to be licensed in the UK in 150 years, and the first new bank to turn a profit inside a year, reporting a £10.6 million pre-tax profit in 2017.
Oaknorth lends between £500,000 and £40 million to businesses and property developers as well as property development finance, investment loans and savings accounts for businesses and individuals. In 2016 it became the first UK bank to have its core system hosted entirely on the cloud after partnering with Amazon Web Services.
To date, Oaknorth has supported the development of 8500 homes. It has offices in London, Manchester and New Delhi.
Oaknorth is unusual amongst banks as clients can discuss their lending requirements, and their ambitions for that lending, directly with the Oaknorth Credit Committee. This process can allow deals to be finalised in weeks, instead of taking several months as is the norm.
Oaknorth loans are secured against a range of business assets, including:
Oaknorth funds management buyouts, management buy-ins, mergers, working capital, expansion, acquisitions and more. To date, it has lent more than £2billion to UK businesses.
Oaknorth also offers personal and business savings accounts that offer a higher rate of interest than most high street banks. Clients can choose from instant access, notice and fixed term accounts. Customers can apply online in as little as ten minutes.
OakNorth is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority.
1st Floor
Alexandra Buildings
28 Queen Street
Manchester
M2 5HX
Telephone: 0161 713 4071
Email: BusinessDesk@oaknorth.com
Find answers in Q&As and ask your question
Having 2 accounts with them I asked as they are both variable saving notice accounts, why the new interest rate isn't applied automatically as other lenders…. Again I have another 2 seperate accounts with 2 other banks, who emailed me to tell me they had done this, nothing was required from me.
Was told no I had to open another account with them at new rate, and then wait the required 120 days to be able to transfer this money, once it had been transferred to my designated account, back to the new one!!!!!
Wellllllllllll if that isn't a whole heap of stupid then my name is Norman Wisdom….. REALLY come on guys get a grip. So only NEW and not exhisting customers can have the new rate ????
So have given notice now to close both my accounts and deal with a company that doesnt talk such utter nonesense!
We’ve set up several fixed term accounts over a couple of years as well as a 30 day notice account. Very easy to set up the accounts online and always give good interest rates compared to the normal high street rip off banks.
Spoke to them once when we first became customers and got excellent service; they were very helpful and very friendly; it was also very quick to get through to an actual person instead of a recorded message.
Highly recommend.
