Shawbrook Bank celebrates £2billion savings milestone

14 June 2014

Shawbrook Bank has surpassed £2billion in savings deposited by personal, SME and charity customers following its launch in 2011.

This significant milestone comes soon after the specialist savings and lending bank announced a pre-tax profit of £16.8m - an outstanding set of annual results for its third year of operation.

“Shawbrook has seen dramatic growth in the last 12 months and the success of the bank’s savings offering has played a major part in this. Our deposit base has doubled in the last year and the number of saving customers has almost tripled since 2012.  We now have over 50,000 accounts,” said James Blower, savings director at Shawbrook Bank.

“During what has been a very difficult time for savers with rates offered by the High Street Banks at all-time lows, Shawbrook continues to champion a fair deal for UK savers. Reaching the £2billion mark is a great achievement and is testament that savers welcome an alternative to the bigger banks.”

A range of savings accounts are available for individuals, SMEs, charities and trusts. Products include fixed rate bonds from 6 months to 5 years as well as 95 days, 100 days and 120 days’ notice accounts.

Shawbrook was recently awarded Best Notice and Best Fixed Rate Account Provider at the 2014 Moneyfacts Awards and was highly commended in the Best Bank Savings provider category. Our products have also been recognised in the Saving Champion Awards and The Moneynet.co.uk Personal Finance Awards.

“Shawbrook uses a traditional savings and lending model, so the money our savings customers deposit is lent to SMEs and individuals. In return we are committed to offering our savers consistently competitive rates with a choice of straightforward products.  We also have a dedicated customer service team offering a personal and friendly service,

“Recently we considerably upgraded our esavings platform making the process of setting up and managing savings accounts more convenient for our customers and we are constantly reviewing what we can offer from both a service and product perspective.

“Our savings products regularly appear in independent best buy tables so customers can be sure they’re getting a competitive deal along with the reassurance that their money is growing in a secure place.”