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Apply for a Easy Access Account

Your money, when you need it

At Shawbrook our Easy Access Account really is easy. You can make withdrawals any time (subject to a minimum withdrawal amount) without giving us notice, you can add funds whenever you like (up to the account maximum balance), and you manage your account online. Interest is paid annually or monthly - it’s your choice.

Easy Access Account Issue 29
AER
0.89% Variable
Gross
0.89% Annually
0.89% Monthly

Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.

 

Account Name

Easy Access - Issue 29

 

What is the interest rate?

Interest rate for balances of £1,000 or more:

Annual Interest (Variable) 0.89% Gross / AER
Monthly Interest (Variable) 0.89% Gross / 0.89% AER

Interest rate where the balance falls below the minimum account opening balance;

0.05% Gross/AER (Variable)

Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.

 

Can Shawbrook Bank change the interest rate?

The Interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.

 

What would the estimated balance be after 12 months based on a £1,000 deposit?

A deposit of £1,000 at an annual Gross rate of 0.89% (variable) would generate an estimated balance of £1,009 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)

 

How do I open and manage the account?

  • You can apply for this product online.
  • Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611.
  • Only 1 Easy Access account is permitted per customer, which can be a sole or joint account.
  • Minimum account opening balance of £1,000.
  • Maximum account balance of £85,000 sole accounts, £170,000 joint accounts.
  • The account is only available to individuals who are 18 years of age or over, permanently resident in the UK, are only liable for UK tax and can provide a UK bank account as a nominated account.

 

Can I withdraw money?

  • No limitation on the number of withdrawals. No notice of withdrawal required.
  • Withdrawals and deposits can be made at any time to and from your nominated account only.
  • The minimum account withdrawal amount is £500. (Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.) Please see our Terms and Conditions for Personal Savings Accounts.

 

Additional Information

  • Interest is paid Gross

 

The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account. 

 

Financial Services Compensation Scheme (FSCS)

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 or visit www.fscs.org.uk

 

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a 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.

Terms & Conditions for Personal Accounts

 

Regulation 

Shawbrook is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/prudential-regulation

Easy access savings accounts

With an easy access account, you can withdraw money whenever you want while earning a competitive, variable interest rate. Plus, if you’re a regular saver, you can keep depositing extra funds, too.

And if that flexibility wasn’t enough, you can choose whether you want to receive your interest monthly or yearly. Like everything we do at Shawbrook — it’s clear, simple, and gimmick-free.

Our Easy access account has lots of great benefits

  • Deposit up to £85,000 for sole accounts, £170,000 for joint accounts
  • No limit on number of withdrawals
  • No notice required to withdraw funds
  • Minimum withdrawal amount £500
  • Open and manage your account online
  • Minimum opening balance £1,000

 

Easy Access Account Issue 29 Summary PDF
AER
0.89% Variable
Gross
0.89% Annually
0.89% Monthly
Min Balance
£1,000
Max Balance
£85,000 sole accounts
£170,000 joint accounts

Shawbrook’s easy access cash ISA is an Individual Savings Account that lets you enjoy the interest on your savings, tax-free. As it’s ‘easy access’, you can withdraw money whenever you need it without giving us notice (subject to a minimum withdrawal amount; any money withdrawn will lose its tax-free status).

To find out more about our easy access and fixed rate ISAs, visit our cash ISA page.

Easy Access Cash ISA Account Issue 20 Summary PDF
AER
0.92% Variable / Tax-Free
Gross
0.92% Annually
0.92% Monthly
Min Balance
£1,000
Max Balance
£250,000
Terms explained

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.

Terms & Conditions for Personal Accounts

Financial Services Compensation Scheme (FSCS)

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 or visit www.fscs.org.uk

About our easy access savings accounts

Want to know more about the easy access personal savings accounts we offer? Explore below.

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 (2022/23) tax-free with these. For more information, visit our cash ISAs page.

If you want to earn interest on your money while still accessing your funds, an easy access savings account could be the best option for you.

Easy access accounts offer more flexibility than fixed term accounts.

You can withdraw money as often as you like, and there is no notice required.

You can make withdrawals and deposits at any time, but they must only be to and from your nominated account.

The minimum account withdrawal amount is £500. If we receive a withdrawal request before 2:30pm on a working day, 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.

The interest rate is variable and may alter per your account’s terms and conditions. You can find out more in ‘Section 17: Change To Interest Rates’ of our Terms and Conditions for Personal Savings Accounts.

It’s simple to open an easy access savings account.

You can apply online and need a minimum account opening balance of £1,000. As for the maximum, this is £85,000 for sole accounts or £170,000 for joint accounts.

The account is only available to individuals who are 18 years of age or over, permanently reside in the UK, are only liable for UK tax, and can provide a UK bank account as a nominated account.

Only one easy access account is permitted per customer, which can be a sole or joint account.

Once your account is open, you can manage the account online via our secure eSavings portal or by telephone on 0345 266 6611.