Shawbrook savings accounts
Shawbrook Bank offers a broad range of savings accounts with interest rates up to 5.1%.
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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.
Shawbrook Bank's top savings rate of 5.1% is available on one of its fixed-rate bond accounts.
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 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 | 4.7% |
Best cash ISA rate | 4.94% |
Best fixed-rate bond rate | 5.1% |
Best notice account rate | 4.75% |
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 |
FSCS protection |
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.
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).
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Does Shawbrook Bank charge any fees for having a fixed term account?
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