From easy access to fixed rate bonds, we have a range of savings accounts to suit your needs. Consistently great rates, award-winning products and FSCS protected.
So, tell your savings to get off their AER. It’s in their best interest!
Compare our savings accounts and their interest rates to find the right one for you.
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.
GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
At Shawbrook, we’re committed to helping people make informed decisions. That’s why we’ll always be clear about everything you need to know.
Below is some useful information about the different types of savings accounts we offer.
You can also find specific information about certain accounts by clicking through on the comparison table above.
You can open a savings account with Shawbrook online.
Before you open an account, you’ll need to know the minimum deposit required and the maximum balance you can hold.
This will vary depending on the account you choose:
We are currently only able to accept deposits into customer accounts via electronic transfer. Please log in to your portal to obtain your customer details.
You can deposit funds into your account by making a Clearing House Automated Payments System (CHAPS) or electronic transfer from your nominated account.
Many banks have introduced the ‘Confirmation of Payee’ scheme, which is designed to match the account name you have entered with the name on the account where the deposit is intended – so you’re aware of any potentially fraudulent or misdirected payments.
Because Shawbrook is not currently part of this scheme, your bank may warn you that they are unable to match the account name with the account number. Your bank will ask you to check with us that the details are correct or to continue with the payment, ignoring this warning. As long as you have set up your electronic transfer using the sort code 16-58-73 and entered your eight-digit account number correctly, your deposit will reach Shawbrook safely and there is no need to contact us to confirm the details.
How much you can withdraw and how often will depend on the type of account:
Cash ISAs are free of income tax. In the tax year of 2023 - 2024, you can pay up to £20,000 into a cash ISA tax-free.