About our accounts

An easy access account is a savings account that allows you to withdraw money without notice. Designed for saving, these will typically offer a higher rate of interest than a current account.

Easy access savings accounts offer a great deal of flexibility. With Shawbrook, you can make unlimited withdrawals (subjected to a minimum amount) without giving us any notice. You can also manage your account online, and deposit as much as you like (up to the account’s maximum balance). The choice is yours to decide whether to receive interest annually or monthly.

Shawbrook also offers easy access cash ISAs. You can deposit up to £20,000 in the current tax year (2024/25) tax-free with these. For more information, visit our cash ISAs page.

Whether an easy access savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:

• Earn interest on your savings while having access to your money when you need it.
• Deposit or withdraw money whenever you need to with no notice.
• Rates of interest for easy accounts are typically lower than for fixed rate accounts or notice accounts but you’ll have flexibility in accessing funds.

Yes, the interest rate is variable, so it can change.

You can find out more about how interest rates can change in section 17 of our Terms and Conditions for Personal Savings Accounts, which you’ll find on our Savings documentation page.

You can withdraw money from your account at any point, without giving us any notice.

You can submit a withdrawal request online via our eSavings portal. Simply go to the ‘request’ tab in eSavings and select either ‘withdraw’ or ‘closure’ , and follow the instructions on screen.

The minimum withdrawal amount is £500.

If we receive an online withdrawal request before 9:30pm on a working day (or a request made by phone or secure message by 2:30pm), you should receive your funds into your nominated account on the next working day.

For more information, please see our Terms and Conditions for Personal Savings Accounts.

A notice savings account is a type of savings account that has no fixed term but requires a notice period before you can withdraw your money. They offer more flexibility than a fixed term account. They work best if you don’t want to lock your funds away for a long time but will know in advance when you need access to your savings.

The notice period will differ depending on the account you have chosen. For example, if you choose a 45 day notice period, you’ll receive your funds 45 days after you request it.

Although notice accounts are more flexible than a fixed rate bond, the notice period means they are not suitable for people who want to access their funds at any time. For those who want even more flexibility, an easy access account could be right for you.

Whether a notice savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:

• Unlike a fixed term bond (such as a 1 year fixed rate bond, for example), you don’t have to make new investment decisions at the end of the term. The money will remain in your account and keep gaining interest until you decide to withdraw, so you can leave it in the notice savings account for as long as you want.
• After you’ve made the minimum deposit, there is no minimum deposit amount so you can keep topping it up as and when you like.
• Having a notice period can help you make more informed decisions and avoid the temptation of dipping into savings.

You can add money to your account, up to your maximum deposit amount, whenever you like.

How to make a deposit into your account.

You can withdraw money from your account at any point, but you’ll need to give us notice beforehand. This notice period will depend on your account.

You can submit a withdrawal request online via our eSavings portal. Simply go to the ‘request’ tab in eSavings and select either ‘withdraw’ if you want a specific sum or ‘closure’ if you wish to withdraw the full amount and follow the instructions on screen.

Once your notice period has expired, we’ll release your funds to you.

Yes, the interest rate is variable, so it can change.

You can find out more about how interest rates can change in section 17 of our Terms and Conditions for Personal Savings Accounts, which you’ll find on our savings documentation page.