Why Shawbrook?
Here are just a few reasons why...
Why a Shawbrook Savings Account could be for you
A range of award-winning savings accounts to suit your needs.
Compare savings accounts
We’ve found 16 accounts for you
1 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
9 Month 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 Cash ISA
A tax-free way to save and get a guaranteed rate for the term of your account.
3 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
3 Year Fixed Rate Cash ISA
A tax-free way to save and get a guaranteed rate for the term of your account.
5 Year Fixed Rate Cash ISA
A tax-free way to save and get a guaranteed rate for the term of your account.
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.
2 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
45 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
120 Day Notice Account
Let us know in advance when you would like to make a withdrawal, and we’ll pay you an attractive variable rate.
Easy Access
A competitive, variable interest rate for the term. You can get next working day access whenever you want.
Easy Access Cash ISA
An individual savings account that offers a tax-free way to save and unlimited withdrawals.
7 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 Cash ISA
A tax-free way to save and get a guaranteed rate for the term of your account.
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 products
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.
Fixed rate savings accounts
Find a fixed rate savings account with a term that suits your needs.Benefit from a guaranteed interest rate with terms ranging from 9 months to 7 years.
Easy Access accounts
Discover Easy Access savings with a competitive rate.With an Easy Access Savings Account, you can get next working day access to your money whenever you need it, whilst earning a competitive variable interest rate. And because flexibility matters, you can choose whether you want to receive your interest monthly or yearly.
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.
Meeting your needs
Explore new ways to save with Shawbrook
What is a Savings Account?
A Savings Account is a financial product provided by banks and building societies for depositing money and earning interest over time. There are various types of savings accounts, each with specific terms, conditions, and interest rates. Depending on the type of account, they can be held individually or jointly.
How do Savings Accounts work?
Savings Accounts let people put their money in a safe place where it can earn interest. Banks use the money deposited to give out loans and then pay interest to the account holders. This system helps people grow their savings.
Interest is calculated daily, so it is calculated on both the original deposit and the interest already earned if left in the account. This helps the savings to grow over time. Savings Accounts offer a secure way to store money and earn extra income through the interest.
The different types of Savings Accounts
Shawbrook offers various types of savings accounts. Understanding the different features of each account can help you determine which one is most suitable for your needs.
- Fixed Rate Bonds: Offers a guaranteed interest rate for the term. Access to funds is restricted until the maturity date, making it essential to plan ahead. Shawbrook offers Fixed Rate Bonds with terms available from 9 months to 7 years.
- Fixed Rate Cash ISAs: Provides a fixed interest rate and tax-free savings for a specified term. Early withdrawals are allowed but are subject to an early exit charge. Shawbrook offers Fixed Rate Cash ISAs with terms ranging from 1 to 7 years.
- Easy Access Cash ISAs: Allows deposits and withdrawals of funds with next working day access, in addition to providing tax-free benefits. Shawbrook offers one Easy Access Cash ISA with a variable interest rate.
- Easy Access Savings Accounts: Allows deposits and withdrawals of funds with next working day access. Shawbrook offers one Easy Access Savings Account with a variable interest rate.
- Notice Accounts: No fixed term but requires advance notice for withdrawals. Shawbrook Notice Accounts are available with 45 days’ or 120 days' notice, with variable interest rates.
What is a tax-free Savings Account?
A Cash ISA (Individual Savings Account) is a tax-free savings account. This means you won’t pay tax on the interest you earn. The ISA Allowance for the 2024/25 tax year is £20,000. This means you can save £20,000 of new money into your ISA this tax year.
However, you can also transfer in funds from other ISAs over and above the £20,000 limit up to the maximum account balance limit, which at Shawbrook is £250,000.
You can open and hold multiple ISAs with different providers. However, you can only open one Cash ISA with Shawbrook per tax year, and you cannot spread your £20,000 allowance across more than one Shawbrook ISA in the same tax year.
What are the fees and charges to consider with a Savings Account?
Some Savings Accounts may have charges.
At Shawbrook, we don't apply maintenance or transaction charges to our personal savings products. However, like most banks, we do apply an early exit charge to our Fixed Rate Cash ISA for withdrawals before maturity.
You should also understand the potential impact of withdrawals on your tax-free ISA allowance.
Award-winning savings
Help
Below are some of the most common queries about our savings accounts.
Can I open an account?
To open an account with Shawbrook Bank you must:
- Be aged 18 or over
- Be a permanent resident in the UK (excluding Channel Islands, Isle of Man and other Crown dependencies)
- Only be liable to pay tax in the UK
Some accounts will have further eligibility criteria. You can find a full breakdown for each of our account’s eligibility criteria within our category pages below and within the subsequent product pages:
- Easy Access Cash ISA
- 1 Year Fixed Rate Cash ISA
- 2 Year Fixed Rate Cash ISA
- 3 Year Fixed Rate Cash ISA
- 5 Year Fixed Rate Cash ISA
- 7 Year Fixed Rate Cash ISA
- 9 Month Fixed Rate Bond
- 1 Year Fixed Rate Bond
- 18 Month Fixed Rate Bond
- 2 Year Fixed Rate Bond
- 3 Year Fixed Rate Bond
- 5 Year Fixed Rate Bond
- 7 Year Fixed Rate Bond
If your circumstances change you must let us know immediately.
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.
How do I make a deposit into my savings account?
You can make a payment to us by electronic payments only. This includes Faster Payments, BACS and CHAPs.
As we don't take payment from you automatically, you'll need to make any payments from your nominated, or linked, account, using the following details:
- Payee: your name
- Account number: your eight-digit account number
- Sort code: 16-58-73
- Reference: your name again
If you're not sure what account number to use, you can get help on how to find your account number.
If you already have an ISA and want to transfer some or all of you balance to us, visit our How to transfer an ISA page.
When can I make a deposit into my Savings Account?
It depends on the type of account you have.
Fixed Rate Bonds
You can add money to your Shawbrook Fixed Rate Bond up to the maximum deposit amount of £2,000,000.
You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list. You're welcome to take out an additional bond if you wish to deposit further funds.
Fixed Rate Cash ISAs and Easy Access Cash ISAs
Shawbrook Fixed Rate Cash ISAs and Easy Access Cash ISAs have minimum opening balance of £1,000 and a maximum balance limit of £250,000.
When adding funds to your ISA make sure you do not exceed the maximum Annual ISA Allowance. Each tax year, you can save up to £20,000 across multiple accounts with different providers. You can also transfer funds from other ISAs beyond this limit.
However, you can only open one Cash ISA with Shawbrook per tax year, and you cannot spread your £20,000 allowance across more than one Shawbrook ISA in the same tax year.
For more information, visit our Cash ISA Allowance for 2024/2025 page
Easy Access Savings Accounts
You can deposit money at any point, up to the maximum deposit amount - £85,000 for sole accounts and £170,000 for joint accounts.
Notice Savings Accounts
You can deposit money at any point, up to the maximum deposit amount of £500,000
To understand how to make a deposit into your Shawbrook Savings Account, visit our How to make a deposit into your account page.
Are there withdrawal restrictions on accounts?
It depends on the type of account you have.
Fixed Rate Bonds
With a Fixed Rate Bond, access to funds is restricted until the maturity date, making it essential to plan ahead. Before the expiry we will write to you to let you know the Shawbrook Savings options available for your maturing funds which will include withdrawing the funds out of the bank.
Fixed Rate Cash ISAs
An early exit charge is applied to our Fixed Rate Cash ISA for withdrawals before maturity. The amount will depend on the product you take. Below is a summary of the early exit charges applicable for our Fixed Rate Cash ISAs.
- 1 Year Fixed Rate Cash ISA: loss of 90 days’ interest on the withdrawn amount
- 2 Year Fixed Rate Cash ISA: loss of 180 days’ interest on the withdrawn amount
- 3 Year Fixed Rate Cash ISA: loss of 270 days’ interest on the withdrawn amount
- 5 Year Fixed Rate Cash ISA: loss of 360 days’ interest on the withdrawn amount
- 7 Year Fixed Rate Cash ISA: loss of 360 days’ interest on the withdrawn amount
The minimum account balance is £1,000.
If you do decide to withdraw money from your Fixed Rate Cash ISA, it is essential to consider the potential impact on your tax-free ISA allowance. More information on the ISA allowance below.
Easy Access Cash ISAs and Easy Access Savings Accounts
You can withdraw money from your Easy Access Cash ISA or Easy Access Savings Account at any point without incurring early exit charges.
The minimum withdrawal amount on both accounts is £500 and the minimum account balance is £1,000.
Before withdrawing money from an Easy Access ISA, it is essential to consider the potential impact on your tax-free ISA allowance. More information on the ISA allowance below.
If we receive an online withdrawal request before 9:30pm on a working day (or a request made by phone or secure message by 2:30pm), you should receive your funds into your nominated account on the next working day. Find out more information on when you'll receive withdrawn funds.
Notice Savings Accounts
At Shawbrook, Notice Savings Accounts are available with two term length options: 45 days or 120 days. This means you are required to notify Shawbrook 45 or 120 days in advance before you can withdraw and access your funds. The minimum balance is £1,000.
Withdrawing money from Cash ISAs
Unless you undertake a transfer to another ISA, when you take money out of an ISA, you stop earning tax-free interest on the withdrawn amount. Every tax year, you have an Annual ISA Allowance, which for 2024/2025 is £20,000.
Once you have deposited money within an ISA, it counts towards your Annual Allowance — even if you withdraw it within the same year (unless you have a flexible ISA, which Shawbrook does not offer). So, removing money from an ISA could prevent you from maximising your allowance.
For more information on Cash ISAs and withdrawals visit our pages below:
Still wanting to withdraw? Learn how to submit a withdrawal request.
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.
Make sense of savings
Stability is now the key word for savers
Top tips to combat rate reductions from our Head of Savings.
Cash ISA or savings account: Understanding the differences
Looking to find out the main difference between a Cash ISA and other savings accounts? Our guide explains and will help you choose your best option.
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.
Our business
About Shawbrook
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
Sustainability
Our sustainability strategy is designed to create value for our customers, colleagues, communities, suppliers and shareholders, while having a positive impact on society and the wider environment.
Sponsorship Programme
As official banking partner of Saracens Rugby Club and lead partner of London Mavericks netball, we are proud to champion inclusive elite sport and the opportunities it can bring for all participants, both on & off the field & court.