Easy Access Savings Accounts

Easy Access Cash ISAs provide tax-free interest on savings and must be opened individually. In contrast, Easy Access Savings Accounts may be subject to income tax and can be opened individually or jointly. Both provide next working day access to funds, but the tax benefits and account holder options differ.

Easy Access Savings Accounts are designed for flexibility. You can add or withdraw money whenever you like, with next working day access to your funds. They come with variable interest rates, which means the rate can go up or down over time. We offer four types:

• Our Easy Access account has a straightforward variable rate with a minimum balance of £1,000 and is available to new and existing customers.
• Our Bonus Easy Access Savings account offers a boosted rate (fixed) for an initial period which is paid on top of the underlying variable rate. It has a minimum balance of £1 and is available to new customers only.  
• Our Easy Access Plus account has a variable rate with a minimum balance of £10,000 and is available to new customers only.
• Our Easy Access Cash ISA lets you earn tax-free interest up to your annual ISA allowance. This account offers a variable rate with a minimum balanced of £1,000. It is available to individual savers only and open to both new and existing customers.

Fixed Rate Savings Accounts provide a guaranteed interest rate for a fixed term. We offer two types:

• Our Fixed Rate Cash ISAs allow withdrawals before maturity but are subject to an early exit charge.
• With a Fixed Rate Bond, access to funds is restricted until the maturity date, making it essential to plan ahead.

Whether an Easy Access Savings Account is the best option will depend on your circumstances and savings goals. But some of the benefits include: 

• The flexibility to deposit and withdraw funds with next working day access, making it suitable for managing short-term savings or unexpected expenses.  
• Variable interest rates that allow for the potential advantage of fluctuating rates, meaning rates can increase or decrease over time. 
• With Shawbrook’s Bonus Easy Access, Savings Account you’ll receive a fixed bonus rate an initial period which is paid on top of the underlying variable rate. This boosted rate won’t change during that time, but the variable rate can go up or down. This account is available to new customers only. 

With our Easy Access, Bonus Easy Access and Easy Access Plus Savings Accounts, you can pay money in at any time up to the maximum account balance, which is £500,000 for individual accounts and £1,000,000 for joint accounts. You can fund your account within 28 days after opening. We’ll close it if it remains unfunded by this time.

For Easy Access Cash ISAs, you can pay money in at any time up to the maximum account balance, which is £500,000. The annual ISA allowance is £20,000, and you can also transfer in funds from other cash ISAs and stocks & shares ISAs. You can fund your account within 90 days after opening. We’ll close it if it remains unfunded by this time.

For more information, visit our pages below:

• 2025/2026 Cash ISA Allowance 
• How to make a deposit into your account

You can withdraw money from your Easy Access Savings Account for next working day access, without incurring early exit charges. However, before withdrawing money from an Easy Access Cash ISA, it is essential to consider the potential impact on your tax-free ISA allowance.  

Withdrawing money from Cash ISAs  

Once you have deposited money in an ISA, it counts towards your £20,000 Annual ISA Allowance, even if you withdraw it within the same year (unless you have a flexible ISA, which Shawbrook does not offer).  

So, if you withdraw money from an ISA, not only will the money lose it’s tax-free status, but you may also not be able to pay some or all the money back into an ISA in the same tax-year. Transferring an ISA enables you to protect the tax-free status of your savings. 
 
For more information on Cash ISAs and withdrawals visit our pages below: 

• Cash ISAs   
• 2025/2026 Cash ISA Allowance 
• Withdrawing Money from ISAs 

How to withdraw money from an Easy Access Savings Account

The minimum account balance depends on the type of Easy Access Account you hold:

• £1 for our Bonus Easy Access Account
• £1,000 for our Easy Access Account and Easy Access Cash ISA Account
• £10,000 for our Easy Access Plus Account

The minimum withdrawal amount is £1.

You can request this withdrawal from your online account. 

We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens. 

If your online account has not been upgraded yet:

• log in and select Requests
• select Withdraw money and follow the steps

If your online account has been upgraded:

• log in and select Move money
• follow the steps

If we receive a withdrawal request online (excluding secure message) before 9:30pm, or by phone before 2:30pm, on a working day, you should receive your funds into your linked account on the next working day. You can also send us a secure message, and we’ll respond as soon as possible.

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

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

With Shawbrook’s Bonus Easy Access Savings Account, you’ll receive a fixed bonus rate for an initial period which is paid on top of the underlying variable rate. This boosted rate won’t change during that time, but the variable rate can go up or down. 

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.

Our Easy Access Plus Account has a competitive variable interest rate. You’ll enjoy next working day access to your money (if withdrawn online before 9:30pm), and unlimited deposits and withdrawals. The account has a minimum balance of £10,000 and minimum withdrawal amount of £1.

This product is currently only available for new customers.