GB Bank savings rates
GB Bank offers a broad range of savings accounts with interest rates up to 4.58%.

Newcomer GB Bank launched in summer 2022 after receiving a full UK banking licence the previous year. The Middlesbrough-based bank is aiming to carve out a niche for itself by offering savings accounts which allow it to provide bespoke loans to property developers who are regenerating underserved communities in the UK (namely the North East, Yorkshire and the North West).
GB Bank's top savings rate of 4.58% is available on one of its fixed-rate bond accounts.
We currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseThe best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.
Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts GB Bank offers, plus the highest interest rate currently available.
Savings account types include | Fixed-rate bonds, notice accounts, regular savers |
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Best fixed-rate bond rate | 4.58% |
Best notice account rate | 4.58% |
Best regular saver rate | 4% |
Fixed bond terms | 6 months - 5 years |
Notice account periods available | 35 days - 120 days |
Opening options | Website, mobile app |
You’re eligible to apply for a GB Bank savings account if you meet the following criteria:
GB Bank’s fixed rate savings account is also suited to someone who has a lump sum to save and who is happy to “lock” their savings away for a set period of time and receive a guaranteed interest rate.
You also ideally need a laptop or computer because its website doesn’t work very well on a mobile or tablet, and it doesn’t have an app.
GB Bank’s savings accounts aren’t always available, so you might not be able to apply for one. But you can go on its website and enter your contact details so that you’re the first to know when an account goes live.
If you can sign up, applications are all online, via GB Bank’s website. Its accounts are only open to applications for a limited amount of time.
You’ll need to provide details of a “linked” current account, which you’ll use to fund your savings. If you fund your GB Bank savings from any other account, your funds will be immediately returned to you. When you withdraw money, that’s also the account that the funds will be sent to. This is a security feature designed to protect against fraud.
GB Bank secured its UK banking licence at the end of 2021 and is authorised and regulated to trade by the Financial Conduct Authority and Prudential Regulation Authority. As a result, if the bank goes bust, up to £85,000 of your savings will be protected by the Financial Services Compensation Scheme (FSCS).
If you have more than £85,000 to save, you may prefer to spread the funds across more than one Bank.
GB Bank certainly has a unique offer and could be worth checking out if you’d like your savings to be used to support underserved regions in the UK.”
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If you are interested in your savings doing more than just earning you interest, GB Bank offers a unique opportunity for you to help communities in the North East, Yorkshire and North West. As a fixed rate savings account you can earn a guaranteed rate of interest and support communities at the same time.
The bank’s first fixed-rate bond was certainly competitive, but this is no longer available. It remains to be seen whether GB Bank will consistently offer good rates and expand into other types of savings products, perhaps with easier access to funds. If it is something that piques your interest, it could be worth putting your name on the Bank’s mailing list. But remember to compare the accounts with other fixed-rate savings products once the details are released.
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