Hampshire Trust Bank savings accounts review

Hampshire Trust Bank offers a variety of savings accounts with interest rates up to 5.05%.

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Hampshire Trust Bank

Established in 1977, Hampshire Trust Bank is a privately owned specialist bank that provides asset finance, specialist mortgages and development finance solutions. It also offers a number of savings accounts.

Hampshire Trust Bank's top savings rate of 5.05% is available on one of its fixed-rate bond accounts.

Fixed-rate bonds

Table: sorted by interest rate
Hampshire Trust Bank's best fixed-rate bond rate of 5.05% is very slightly lower than today's market-best rate of 5.5%.
1 - 5 of 5
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Hampshire Trust Bank – 1 Year Online Fixed Saver (Issue 68)
5.05% AER fixed for 1 year
£1 - £250,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
Hampshire Trust Bank – 18 Month Online Fixed Saver (Issue 30)
4.97% AER fixed for 1.5 years
£1 - £250,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
Hampshire Trust Bank – 2 Year Online Fixed Saver (Issue 90)
4.95% AER fixed for 2 years
£1 - £250,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
Hampshire Trust Bank – 3 Year Fixed Rate Savings Account (Issue 66)
4.7% AER fixed for 3 years
£1 - £250,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
Hampshire Trust Bank – 5 Year Fixed Rate Savings Account (Issue 37)
4.55% AER fixed for 5 years
£1 - £250,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
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Compare more fixed-rate bonds up to 5.5%

What is Hampshire Trust Bank's best savings account with the highest interest rate?

The 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 Hampshire Trust Bank offers, plus the highest interest rate currently available.

Savings account types include Fixed-rate bonds
Best fixed-rate bond rate 5.05%
Fixed bond terms 1 year - 5 years
Opening options Website
FSCS protection

How to open an account

To open a savings account with Hampshire Trust Bank, you will need to be at least 18 years old and a UK resident. Accounts can be opened online, but if you’re an existing customer, you can also phone or email the bank and it will open the account for you.

You will need to provide personal details such as your name, date of birth and address as well as your existing current account details (this must be with a UK bank).

Documents needed to open an account

You will only need to provide documents if Hampshire Trust Bank is unable to verify your identity and address electronically. In this case, you will need to provide proof of ID such as a passport or driving licence and proof of address such as a council tax bill, utility bill or bank statement.

Is Hampshire Trust Bank safe?

Yes, Hampshire Trust Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. All eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS).

Pros and cons

Pros

  • Easy to open an account. Quick to open an account online and no paper documents usually needed.
  • FSCS protection. Money in accounts will be protected up to £85,000 per person.
  • Low deposit required. You can open an account with just £1.

Cons

  • Limited range of accounts. Although Hampshire Trust bank has offered cash ISAs and business savings accounts in the past, these are currently unavailable.
  • No bank branches. You’ll need to be happy banking online or by phone.

Our verdict: Is a savings account from Hampshire Trust Bank worth it?

The fact you can open almost all Hampshire accounts with just £1 is appealing. Overall, its range of accounts is fairly standard, with some competitive deals. When it periodically issues a table-topping rate, it would be a sensible bet.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

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