Joint savings accounts

A joint savings account is similar to a sole account, except that two people share control of the account and can both deposit and withdraw funds. With a joint account, you can grow your savings together and potentially meet your savings goals faster.

At Shawbrook, you can both manage your account over the phone or via online banking. You may close the account at any time within 14 days after you open a joint account or receive your contractual terms (whichever is later). However, this cancellation right does not apply to any of our fixed rate products.

It's easy to open a joint savings account online with us. We prefer to keep things simple, so you can manage your account online too.

Before opening a joint savings account, it's essential to know the minimum deposit required and the maximum balance you can hold. This varies depending on the account you choose. 

We provide joint savings accounts with the following products:

Fixed rate bonds
Shawbrook’s fixed rate bonds have a minimum balance of £1,000 and a maximum of £2,000,000.

Notice accounts
Our 45 day and 120 day notice accounts require a minimum balance of £1,000 and have a maximum threshold of £500,000.

Easy access accounts
Easy access accounts with Shawbrook require a minimum balance of £1,000. The maximum is £170,000 for joint accounts.

You can start your application once you've decided which option is right for you. Select 'joint' as the applicant type on the form for joint savings accounts. You'll need information from both parties to complete your application.

When you apply for a savings account, you can choose to receive interest monthly or annually. 

All of Shawbrook’s savings accounts are protected by the Financial Services Compensation Scheme (FSCS). The FSCS will protect funds across all of your Shawbrook accounts up to a maximum value of £85,000 for sole account holders or £170,000 for joint accounts.

Any amount you hold above these limits (including across multiple accounts) is unlikely to be eligible for FSCS protection, although there are some exceptions for temporary high balances. For further information, visit www.fscs.org.uk.

There is no difference between protection for monthly or annual accounts. As Shawbrook’s savings accounts are cash savings accounts (as opposed to stocks and shares investments), your capital is not at risk.