Essential Maintenance on savings systems
We're updating our savings systems from 6am to 1.30pm on Saturday 12th October 2024.
This means you won't be able to log in or apply for a savings product during this period.
We apologise for any inconvenience this may cause.
Why Shawbrook?
Here are just a few reasons why...
Discover our savings accounts
A range of award-winning savings accounts to suit your needs.
What are the different types of savings accounts?
Compare savings accounts
45 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
9 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
1 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
120 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
1 Year Fixed Rate Cash ISA
An individual savings account that offers a tax-efficient way to save and the security of a guaranteed rate.
Easy Access
A competitive, variable interest rate for the term. You can get next working day access whenever you want.
18 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
Easy Access Cash ISA
An individual savings account that offers a tax-efficient way to save and unlimited withdrawals.
5 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
3 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
2 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
2 Year Fixed Rate Cash ISA
An individual savings account that offers a tax-efficient way to save and the security of a guaranteed rate.
3 Year Fixed Rate Cash ISA
An individual savings account that offers a tax-efficient way to save and the security of a guaranteed rate.
7 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
5 Year Fixed Rate Cash ISA
An individual savings account that offers a tax-efficient way to save and the security of a guaranteed rate.
7 Year Fixed Rate Cash ISA
An individual savings account that offers a tax-efficient way to save and the security of a guaranteed rate.
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. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
Explore our products
Cash ISAs
Easy access or fixed rate on your ISA account – it’s up to you.Invest up to £20,000 tax-free each year and choose from easy access or fixed rate accounts.
Fixed rate savings accounts
Find a fixed rate savings account with a term that suits your needs.Benefit from a guaranteed interest rate with terms ranging from 9 months to 7 years.
Easy Access accounts
Discover Easy Access savings with a competitive rate.Withdraw your money whenever you need it – open as a sole or joint account.
Notice savings accounts
Open a Notice savings account with as little as £1,000.Enjoy more flexibility than a fixed rate bond and choose a 45 or 120-day notice period.
Meeting your needs
Explore new ways to save with Shawbrook
Help
Below are some of the most common queries about our savings accounts.
How do I open an account?
If you do not have a Shawbrook account you can one on our website by selecting Learn more and apply next to the account you'd like.
All our applications are subject to eligibility and verification of your identity. If we need more information from you to complete our checks and set up your account, a member of our team will be in touch within five working days from the submission of application.
If you already have a Shawbrook account you can open another one easily from your online account. Log in, compare accounts and apply in a few steps.
How do I make a deposit into my savings account?
You can make a payment to us by electronic payments only. This includes Faster Payments, BACS and CHAPs.
As we don't take payment from you automatically, you'll need to make any payments from your nominated, or linked, account, using the following details:
- Payee: your name
- Account number: your eight-digit account number
- Sort code: 16-58-73
- Reference: your name again
If you're not sure what account number to use, you can get help on how to find your account number.
We're not part of the confirmation of payee scheme, so your bank may tell you this when you try and make a payment. It's nothing to worry about. For peace of mind, you may wish to make a small 'test' payment of £1. Once the payment has processed, you'll see it in your account.
If you already have an ISA and want to transfer your previous allowances to us, you can find out more on how to transfer an ISA.
I have just sent an electronic payment but it's not showing on my online account?
Funds are credited to your account the same working day, if sent prior to 3.30pm.
If funds are sent after this time or not on a working day (Saturday and Sunday or English public holiday), the funds will credit your account the following working day. You will begin to earn interest once the credit has been applied to your account.
If you've registered a mobile number with us, we'll send you a text to let you know the funds have been credited.
If it's been more than one working day since you transferred the funds, check your linked (nominated) account in case it's been returned. This could happen if your account is no longer open for funding. Please contact us if you have any issues and we'll take a look.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611. Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
Are there withdrawal restrictions on accounts?
It depends on the account.
If your account does allow you to withdraw funds, taking your account below the minimum balance will affect the interest we pay. Check your terms and conditions for more details.
Notice Accounts
If your account has a notice period, then you will not be able to withdraw funds within your applicable notice period. You will need to submit a withdrawal request to us and once your notice period has expired your funds will be sent to you. Find out how to submit a withdrawal request.
Fixed Term Bonds
You will not be able to withdraw funds prior to end of your fixed term. Before expiry of your fixed term we will write to you to let you know the Shawbrook Savings options available for your maturing funds which will include withdrawing the funds out of the bank.
If your fixed term bond is an ISA, you can withdraw funds (although you'll lose your ISA status on these funds), with a minimum withdrawal of £1,000. If withdrawing money will leave you with less than £1,000, you'll need to contact us so we can discuss the options with you.
You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.
Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.
Easy Access Accounts
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.
Find out more information on when you'll receive withdrawn funds.
Some Easy Access Accounts have a minimum withdrawal limit. Please check your Key Product Information for more information.
If you want to withdraw less than £500, you'll need log in and send us a secure message, as we'll need to help you do this.
ISA Accounts
You can withdraw your funds at any time but this will result in you losing your tax benefits from the point of the withdrawal. If your account has a fixed term or notice period, there may be an early exit charge to pay
To maintain your tax benefits you can transfer out your cash ISA balance to another ISA provider at any point. To make a transfer out you must contact your new ISA provider and request a transfer. Your new ISA provider will undertake the transfer on your behalf. If you withdraw funds or transfer funds out to another provider before the end of any fixed term or notice period you may incur an early exit charge (normally a loss of interest). After the exit charge has been applied you may have less money than you originally deposited depending on the terms of your particular Shawbrook Bank cash ISA.
Details of early exit charges will be contained in the Key Product Information document provided when you open your account.
If you make a withdrawal from a cash ISA account you cannot deposit funds back into your account if the deposit amount means you exceed the maximum annual subscription allowance.
What is a tax-free account?
Cash ISAs are free of income tax.
The ISA allowance for the 2024/25 tax year is £20,000. This means you can save £20,000 of new money into your ISA in this tax year.
Our Cash ISA maximum balance is £250,000 so you can transfer other ISA balances into your new Shawbrook ISA up to £250,000.
If these balances are from previous tax years, they do not count towards the £20,000 limit in the current tax year 2024/25.
If you're splitting your ISA allowance over several ISAs, the maximum deposit across all of your accounts is £20,000.
You can find out more about ISAs in our guide to ISAs.
Need more help?
We have a range of information to help you understand savings including how our products work, operating your account and getting in touch with our team.
Make sense of savings
Stability is now the key word for savers
Top tips to combat rate reductions from our Head of Savings.
ISAs Explained
In this guide, we’ll help you understand everything there is to know about ISAs, including the key features of an ISA and the types Shawbrook and other providers offer.
Depositing & withdrawing from your account
Find out how to make a deposit and withdrawal from your savings account.
Savings accounts for your business
Make your cash work as hard as you do. If your business is in the enviable position of having some spare cash to hand - even if it’s for a finite period of time - it makes sense to get it working for you. At Shawbrook we have a range of solutions designed to suit the needs of your business.
Our business
About Shawbrook
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
Sustainability
Our sustainability strategy is designed to create value for our customers, colleagues, communities, suppliers and shareholders, while having a positive impact on society and the wider environment.
Saracens sponsorship
As official banking partner of Saracens Rugby Club, we are proud to champion elite women’s sport by supporting the growth of both women’s rugby and netball as lead sponsor of the Mavericks.