Why Shawbrook?
Here are just a few reasons why...
Why a Fixed Rate Savings Account could be for you
Plan for the long term with a guaranteed return on your savings
Our fixed rate savings accounts
We’ve found 8 accounts for you
9 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
3 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
1 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
18 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
5 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
1 Year Fixed Rate Cash ISA
A tax-free way to save and get a guaranteed rate for the term of your account.
2 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
7 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
Terms explained
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks. GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account. Terms & Conditions for Personal Accounts
Financial Services Compensation Scheme (FSCS)
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
See how much you could earn
Use our savings calculator to see how much interest you could earn in a year, shown in pounds, to help you compare our savings accounts.
Explore our other products
Savings Accounts
At Shawbrook, it’s all about saving smarter, not harder.We have a range of savings accounts to suit your needs. Consistently great rates, award-winning products and FSCS protected.
Cash ISAs
Easy access or fixed rate on your ISA account – it’s up to you.Invest up to £20,000 tax-free each year and choose from easy access or fixed rate accounts.
Easy Access accounts
Discover Easy Access savings with a competitive rate.Get next working day access to your money whenever you need it, whilst earning a competitive variable interest rate.
Notice savings accounts
Open a Notice savings account with as little as £1,000.Enjoy more flexibility than a fixed rate bond and choose a 45 or 120-day notice period.
What is a Fixed Rate Savings Account?
A Fixed Rate Savings Account offers a guaranteed interest rate for a set period. This means you’ll know exactly how much interest you’ll earn, no matter what happens in the market. However, access to your money is likely to be restricted, and if you can withdraw funds you will typically face an early exit charge.
At Shawbrook we offer two types of Fixed Rate Saving Accounts:
- Fixed Rate Cash ISAs
- Fixed Rate Bonds
A Fixed Rate Savings Account is ideal for savers who can leave their money untouched for the entire term.
Term lengths on a Fixed Rate Savings Account
Fixed rate savings terms vary across different banks. At Shawbrook, we offer the following term lengths across our Fixed Rates Savings Accounts:
- Fixed Rate Cash ISAs: terms available from 1 to 7 years
- Fixed Rate Bonds: terms available from 9 months to 7 years
These options cater to different financial goals, providing flexibility for short-term needs or long-term planning.
Fixed Rate ISAs and Fixed Rate Bonds
Shawbrook Fixed Rate ISAs and Fixed Rate Bonds offer guaranteed interest rates for a set period. However, there are a few key differences between them:
- Tax Benefits: Fixed Rate ISAs provide tax advantages as the interest earned is tax-free. In contrast, the interest earned on Fixed Rate Bonds may be subject to income tax, depending on your personal circumstances, including your Personal Savings Allowance
- Withdrawal Limits: Early withdraws are possible with a Fixed Rate ISA, but subject to an early exit charge. With a Fixed Rate Bond, access to funds is restricted until the maturity date.
- Joint Accounts: Fixed Rate ISAs must be opened in individual names due to their tax-free status linked to the individual taxpayer. Fixed Rate Bonds can be opened as either individual or joint accounts, offering more flexibility for joint savers.
By understanding these differences, you can choose the savings product that best suits your financial goals
Fixed Interest Rates
Interest is the money earned on the savings you deposit. A fixed interest rate on a savings account is a rate that remains unchanged for a specified term. The fixed rate is based on market conditions and economic factors at the time the account is opened. This means you'll earn a set amount of interest, regardless of market changes, offering predictable returns on your savings.
Pros and cons of a Fixed Rate Savings Account
You can enjoy peace of mind with a rate that's fixed for the duration of your term. Fixed Rate Savings Accounts give you predictable returns, protecting your savings from market changes. However, there is usually restricted access to your funds until the term ends, reducing flexibility.
Help
Below are some of the most common queries about our savings accounts.
The differences between a Fixed Rate Cash ISA and a Fixed Rate Bond
Shawbrook Fixed Rate Cash ISAs and Fixed Rate Bonds both offer fixed interest rates for a set period. However, there are a few key differences between the two options.
Tax Benefits
Fixed Rate Cash ISAs provide tax advantages as the interest earned is tax-free. In contrast, the interest earned on Fixed Rate Bonds may be subject to income tax, depending on your personal circumstances, including your Personal Savings Allowance.
For more information, visit our pages below:
Withdrawal Limits
If you have a Fixed Rate Cash ISA, you can make withdrawals or close your account before maturity, but this will be subject to a loss of interest, known as an early exit charge. Conversely, with a Fixed Rate Bond, access to funds is restricted until the maturity date.
For more information, visit our Withdrawing Money from ISAs page.
Maximum Account Balance
At Shawbrook, the Fixed Rate Cash ISA maximum account balance is £250,000 and the Fixed Rate Bond maximum account balance is £2,000,000.
Joint Accounts
Fixed Rate Cash ISAs must be opened in individual names due to their tax-free status linked to the individual taxpayer. Fixed Rate Bonds can be opened as either individual or joint accounts, offering more flexibility for joint savers.
By understanding these differences, you can choose the savings product that best suits your financial goals.
For more information, visit our Fixed Rate Savings page
How do I open an account?
If you do not have a Shawbrook account you can open on our website by selecting Learn more and apply next to the account you'd like.
All our applications are subject to eligibility and verification of your identity. If we need more information from you to complete our checks and set up your account, a member of our team will be in touch within five working days from the submission of application.
If you already have a Shawbrook account you can open another one easily from your online account. Log in, compare accounts and apply in a few steps.
Can I choose how my interest is paid?
Yes, you can. Interest can be credited to your account with us or paid to your linked (nominated) account. When applying for your savings account we will ask you to choose:
- where to pay your interest
- when to pay it (monthly or annually)
If you already have an account and want to change how you receive interest, please log in and send us a message or contact us by phone.
Do you have minimum or maximum balance requirements?
Yes. For all Shawbrook Savings Accounts our minimum account opening and operating balance is £1,000. However, the maximum account balance requirements vary by product.
- Fixed Rate Bonds: £2,000,000
- Fixed Rate Cash ISAs: £250,000
- Easy Access Cash ISAs: £250,000
- Easy Access Savings Accounts: £85,000 for sole accounts and £170,000 for joint accounts.
- Notice Savings Accounts: £500,000
Need more help?
We have a range of information to help you understand savings including how our products work, operating your account and getting in touch with our team.
Award-winning savings
Make sense of savings
Depositing & withdrawing from your account
Find out how to make a deposit and withdrawal from your savings account.
Savings accounts for your business
Make your cash work as hard as you do. If your business is in the enviable position of having some spare cash to hand - even if it’s for a finite period of time - it makes sense to get it working for you. At Shawbrook we have a range of solutions designed to suit the needs of your business.