Easy Access Savings Account
Easy Access Savings Account - Issue 41
It’s important that you read the terms and conditions for our accounts. You can also download the key product information presented in this summary box.
What is the Interest Rate?
3.85%
Variable
AER
Gross
3.85% annually
3.78% monthly
If the balance falls below £1,000
0.05% Variable
Rates effective 7 February 2025.
Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If you take out an Easy Access account and opt for interest to be paid annually, your interest will be credited on the anniversary and at closure of the account. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.
All interest is paid Gross.
Can Shawbrook change the interest rate?
The Interest rate is variable and may be altered in accordance with this document and Section 17 Change To Interest Rates of our terms and conditions for Personal Savings Accounts.
What would the estimated balance be after 1 Year based on a £1,000 deposit?
Opening deposit
£1,000
Balance after 1 Year
£1,039
This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid and compounded annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.
How do I open and manage the account?
- You can only apply for this product online.
- Once your account is open, you can operate the account online or by telephone.
- The account is only available to individuals who are 18 years of age or over, permanently resident in the UK, are only liable for UK tax and can provide a UK bank account as a nominated account.
- You can only operate one Easy Access account per customer, which may be a sole or joint account.
Minimum Balance
£1,000
Maximum Balance
£85,000 Sole
£170,000 Joint
Can I withdraw money?
- Withdrawals can be made online at any time without notice and there are no limitations on the number of withdrawals you can make.
- The minimum withdrawal amount is £500.
- Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.
Additional Information
- Please read this leaflet in conjunction with terms and conditions for Personal Savings Accounts.
- Eligible deposits are protected up to a total of £85,000 per person by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
- If you have a joint account, you'll be protected for £85,000 each. This means that up to £170,000 could be protected in your joint account.
- We’ll send you a statement on the anniversary of the date of receipt of your first deposit and at closure of your account.
- Shawbrook reserves the right to withdraw this product at any time. You will not be notified in writing if we withdraw this product from sale.
- You can make deposits into your account up to the maximum balance for as long as the account remains open.
- To close your account, please send a secure message to confirm your request or contact us by telephone.
Get next working day access to your money
Good for you if
- you might need to make withdrawals
- you want to save with someone else
Consider something else if
- you want a fixed rate
- you can leave your savings untouched
Apply Now
Get flexibility and a competitive rate with our easy access account. Simply choose whether you want to receive your interest monthly or yearly and complete our short application form.
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