Shawbrook Bank

Shawbrook savings accounts

Shawbrook Bank offers a broad range of savings accounts with interest rates up to 5.16%.

4.2 ★★★★★ (70 reviews) Write a review

Shawbrook Bank launched back in 2011 and is a savings and lending bank based in the UK.

Whether you’re trying to squirrel away a few coins daily, or you’re looking to put a lump sum away to fatten up a bit, Shawbrook Bank has a variety of savings options.

We’ve highlighted the key features of Shawbrook Bank’s savings options in our review, below.

Easy access savings accounts

Table: sorted by interest rate
Shawbrook Bank's best easy access rate of 5% is significantly lower than today's market-best rate of 7.49%.
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Shawbrook Bank – Easy Access Issue 37
Variable
Instant access
£1,000
5% AER variable
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Shawbrook Bank – Easy Access Issue 37
Variable
Instant access
£1,000
5% AER variable
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Shawbrook Bank – Easy Access Cash ISA - Issue 26
Cash ISA
Instant access
£1,000
4.7% AER variable
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Shawbrook Bank – Easy Access Cash ISA - Issue 26
Cash ISA
Instant access
£1,000
4.7% AER variable
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Cash ISAs

Table: sorted by interest rate
Shawbrook Bank's best cash ISA rate of 5.01% is very slightly lower than today's market-best rate of 5.25%.
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Shawbrook Bank – 1 Year Fixed Rate Cash ISA Bond Issue 88
5.01% AER fixed for 1 year
£1,000
Monthly
Instant access (charge applies )
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Shawbrook Bank – 1 Year Fixed Rate Cash ISA Bond Issue 88
5.01% AER fixed for 1 year
£1,000
Anniversary of account opening
Instant access (charge applies )
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Shawbrook Bank – Easy Access Cash ISA - Issue 26
4.7% AER variable
£1,000
Monthly
Instant access
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Shawbrook Bank – Easy Access Cash ISA - Issue 26
4.7% AER variable
£1,000
Anniversary of account opening
Instant access
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Shawbrook Bank – 2 Year Fixed Rate Cash ISA Bond Issue 78
4.35% AER fixed for 2 years
£1,000
Anniversary of account opening
Instant access (charge applies )
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Fixed-rate bonds

Table: sorted by interest rate
Shawbrook Bank's best fixed-rate bond rate of 5.16% is very slightly lower than today's market-best rate of 5.21%.
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Shawbrook Bank – 1 Year Fixed Rate Bond Issue 101
5.16% AER fixed for 1 year
£1,000 - £2,000,000
Monthly
Withdrawals not permitted
Website
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Shawbrook Bank – 1 Year Fixed Rate Bond Issue 101
5.16% AER fixed for 1 year
£1,000 - £2,000,000
Anniversary of account opening
Withdrawals not permitted
Website
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Shawbrook Bank – 9 Month Fixed Rate Bond Issue 11
4.95% AER fixed for 274 days
£1,000 - £2,000,000
On maturity
Withdrawals not permitted
Website
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Shawbrook Bank – 9 Month Fixed Rate Bond Issue 11
4.95% AER fixed for 274 days
£1,000 - £2,000,000
Monthly
Withdrawals not permitted
Website
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Shawbrook Bank – 18 Month Fixed Rate Bond Issue 45
4.6% AER fixed for 1.5 years
£1,000 - £2,000,000
Anniversary of account opening
Withdrawals not permitted
Website
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Notice savings accounts

Table: sorted by interest rate
Shawbrook Bank's best notice savings account rate of 5.16% is very slightly lower than today's market-best rate of 5.45%.
Name Product Account type Withdrawals Open with Deposit protection Interest rate Open via Incentive Table product description Apply link
Shawbrook Bank – 45 Day Notice Personal Account Issue 14
Variable
45 days notice needed
£1,000 - £500,000
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5.16% AER variable
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Shawbrook Bank – 45 Day Notice Personal Account Issue 14
Variable
45 days notice needed
£1,000 - £500,000
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5.16% AER variable
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Shawbrook Bank – 45 Day Notice Personal Account Issue 14
Variable
45 days notice needed
£1,000 - £500,000
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5.16% AER variable
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Shawbrook Bank – 45 Day Notice Personal Account Issue 14
Variable
45 days notice needed
£1,000 - £500,000
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5.16% AER variable
Open via: website
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Shawbrook Bank – 120 Day Notice Personal Account Issue 57
Variable
120 days notice needed
£1,000 - £500,000
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4.5% AER variable
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Business savings accounts

Table: sorted by interest rate
Shawbrook Bank's best business savings account rate of 5.03% is very slightly lower than today's market-best rate of 5.25%.
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Shawbrook Bank – 2 Year Fixed Rate Business Savings Bond - Issue 12
5.03% AER fixed
Anniversary of account opening
£5,000 - £2,000,000
2 years
Open via: website, telephone
Go to site
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Shawbrook Bank – 2 Year Fixed Rate Business Savings Bond - Issue 12
5.03% AER fixed
Monthly
£5,000 - £2,000,000
2 years
Open via: website, telephone
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What is Shawbrook Bank's best savings account with the highest interest rate?

Remember that the best savings account will depend on what you want from your savings. If you're after fast access to your money then an easy access account should suit. However, if you're looking to happy to lock your money away for a period of time to unlock 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 Shawbrook Bank offers plus the highest interest rate currently available.
Savings account types include Easy access, cash ISAs, fixed-rate bonds, notice accounts, business
Best easy access rate 5%
Best cash ISA rate 5.01%
Best fixed-rate bond rate 5.16%
Best notice account rate 5.16%
Best business savings account rate 5.03%
Fixed bond terms 9 months - 7 years
Notice account periods available 45 days - 120 days
Opening options Website, post, telephone
FSCS protection

Does Shawbrook Bank offer online or mobile banking?

Shawbrook Bank is an online-only bank. It doesn’t have any physical branches, so you apply and manage your account remotely. This could be on its website, through direct message, over the phone, or in some circumstances by post. It doesn’t have a mobile app for savings account customers.

How safe is Shawbrook Bank?

Your personal savings are protected by the Financial Services Compensation Scheme for up to £85,000 with Shawbrook Bank. Joint accounts are protected for up to £170,000. Shawbrook Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

What are the pros and cons of banking with Shawbrook Bank?

Pros

  • Online banking. You can access your Shawbrook Bank account anywhere. All you’ll need is your username and password.
  • Flexibility. Shawbrook Bank offers a range of accounts with options for various types of savers.
  • Decent rates. Shawbrook Bank offers pretty competitive rates across the board. They’re not market leading, but certainly up there.
  • Transparent rates. Some banks offer great interest rates upfront then take them away after 12 months. Shawbrook Bank doesn’t do this.

Cons

  • No high-street presence. More and more people are turning away from high street banking. However, in some circumstances you might prefer to have the option to visit a branch.

Frequently asked questions

Savings ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

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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2 Responses

    Default Gravatar
    MarcusMarch 27, 2019

    Does Shawbrook Bank charge any fees for having a fixed term account?

      AvatarFinder
      nikkiangcoMarch 28, 2019Finder

      Hi Marcus,

      Thanks for reaching out. Shawbrook doesn’t charge any fees when you have a fixed term account but you can be charged for exit fees for early termination and you can obtain this information when you visit their website. Hope this helps!

      Best,
      Nikki

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