Shawbrook bucks the trend with top of market rate for savers

30 August 2013

Challenger bank Shawbrook is offering savers a top paying rate on its 5 Year Fixed Rate Bond setting it apart from its competitors.

Despite a falling rate environment, Shawbrook is offering to pay savers 2.9 per cent, which places it joint top alongside Nigerian bank First Save. Shawbrook’s offer is available online, through the post or over the phone making it highly accessible.

James Blower, Director of Savings at Shawbrook Bank said: “We wanted to do something to help savers in this volatile market. By rewarding customers with a market leading rate we hope that they will begin to see their savings grow.  Our aim is to offer consistently competitive rates and a fair deal for savers.

“As a specialist savings bank we are focussed on straightforward, no-nonsense alternatives to the high street.”

Unhindered by any of the problems of the credit crisis, Shawbrook Bank is a stable and secure UK bank and part of the Financial Services Compensation Scheme ensuring all savers’ money is protected up to £85,000.

The 5 Year Fixed Rate Bond is only available to savers who are over the age of 18 and permanent residents in the UK.  A minimum level of £5,000 (maximum of £2 million) can be deposited The 2.9 per cent rate will be effective from  Saturday 29th June, 2013 with interest paid on 31 December each year and again on closure.