Close

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 12
AER
1.30%
Gross
1.30% Annually
1.29% 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 12

 

What is the interest rate?

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

Annual Interest (Variable) 1.30% Gross / AER
Monthly Interest (Variable) 1.29% Gross / 1.30% AER

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

0.05% Gross/AER (Variable)

Interest is calculated daily. If you have opted for annual interest we credit the interest on the anniversary of the date of receipt of your first deposit. If you have opted for monthly interest we credit the interest on the monthly anniversary of the date of receipt of your first deposit.

 

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 1.30% (variable) would generate an estimated balance of £1,013 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 online through secure message, email 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.
  • 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/pra

Easy access accounts

Your money, whenever you need it

You never know what’s round the corner, so it’s good to have some of your money easily available should you need it. With cash in the bank, you can always cover unexpected costs when they arise. Put your savings in an ordinary bank account, though, and you may not earn as much interest, and even when you do, your interest rate may be subject to a low maximum balance.

Shawbrook’s easy access accounts are a bit like having your cake and eating it. You earn a competitive, variable rate and you can choose whether the interest is paid annually or monthly. 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
  • No limit on number of withdrawals
  • No notice required to withdraw funds
  • Minimum withdrawal amount £500
  • Open and manage your account online
  • Earn 1.30% AER (Variable)
  • Minimum opening balance £1,000

 

Easy Access Account Issue 12 Summary PDF
AER
1.30%
Gross
1.30% Annually
1.29% Monthly
Min Balance
£1,000
Max Balance
£85,000

ISA - In or Out?

An Easy Access Cash ISA - an Individual Savings Account - lets you enjoy the interest on your savings tax free. Remember, most customers will no longer have to pay tax on some or all of their interest, even if the account is not a Cash ISA. To understand how much interest you can earn before you pay tax on it please refer to the HMRC website.

How much can I save in a Cash ISA?

Cash ISAs can accept up to £20,000 in total in the current tax year, 2018/19. Remember you can split your total £20,000 into cash ISAs (such as our savings accounts) and stocks and shares ISAs, and it can be invested with different providers as long as the total doesn’t exceed the limit.

You can transfer other ISA balances into your new Shawbrook ISA, up to the maximum account balance for your product. If these balances are from previous tax years, they don’t count towards the £20,000 limit in the current tax year.

Easy Access Cash ISA Account Issue 4 Summary PDF
AER
1.30%
Gross
1.30% Annually
1.29% 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

Not what you were looking for?