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Hampshire Trust Bank savings accounts review
Hampshire Trust Bank offers a broad range of savings accounts with interest rates up to 5.15%.
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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. See our analysis of these accounts below.
Easy access savings accounts
Table: sorted by interest rate
Hampshire Trust Bank's best easy access rate of 3.5% is significantly lower than today's market-best rate of 5.12%.
Compare more instant and easy access accounts up to 5.12%
Cash ISAs
Table: sorted by interest rate
Hampshire Trust Bank's best cash ISA rate of 4.25% is very slightly lower than today's market-best rate of 4.65%.
Compare more ISAs up to 4.65%
Fixed-rate bonds
Table: sorted by interest rate
Hampshire Trust Bank's best fixed-rate bond rate of 5.15% is very slightly lower than today's market-best rate of 5.35%.
Notice savings accounts
Table: sorted by interest rate
Hampshire Trust Bank's top notice savings account rate of 4.4% is the best currently on the market.
Compare more notice savings accounts up to 4.4%
Business savings accounts
Table: sorted by interest rate
Hampshire Trust Bank's best business savings account rate of 4.2% is very slightly lower than today's market-best rate of 4.5%.
Compare more business savings accounts up to 4.5%
Overview of Hampshire Trust Bank savings
| Savings account types include | Easy access, cash ISAs, fixed-rate bonds, notice accounts, business |
|---|---|
| Best easy access rate | 3.5% |
| Best cash ISA rate | 4.25% |
| Best fixed-rate bond rate | 5.15% |
| Best notice account rate | 4.4% |
| Best business savings account rate | 4.2% |
| Fixed bond terms | 9 months - 5 years |
| Notice account periods available | 95 days - 120 days |
| Opening options | Website, post |
| 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 savings accounts on offer from Hampshire Trust Bank are certainly competitive and the fact you can open them with just £1 is also a bonus. But the big drawback is that there is currently only an 18-month bond and an easy access account to choose from. This means that overall, its range of accounts is pretty disappointing and you could be better off going elsewhere.
Frequently asked questions
Savings ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.
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.
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