About our accounts

General information about our accounts

Do you have minimum or maximum balance requirements?

Yes. The balance requirements vary by product, so you should check this information on the product you wish to apply for.

If you already have a savings account with us, all of this information will be in your welcome email.

Do your accounts have any fees or charges?

We don't apply fees or charges to our personal savings products.

However, if you withdraw funds from an ISA before the end of the agreed term or notice period, there may be a penalty to pay.
If you're considering this, please contact us and we'll let you know what the penalty could be.

You can contact the savings team by logging in and sending a secure message, or getting in touch by phone on 0345 266 6611.

Our team are available Monday to Friday, 9.00am - 5.00pm, excluding public holidays.

You’ll also find details of early exit charges in the Key Product Information document provided when you open your account.

Why is the interest rate showing as 0% in my account?

The interest rate will show as 0% until you deposit the minimum balance required for the account you chose. You can find out what that minimum balance required is in the Key Product Information (KPI) document provided when you open your account.

My savings rate has an issue number. What does this mean?

Whenever we release a new rate, we give it a new issue number. It helps us keep track of what product we're referring to, including what rate it offers.

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 call us on 0345 266 6611. We’re open from 9am to 5pm, Monday to Friday, excluding bank holidays.

Easy access savings accounts

What is an easy access savings account?

An easy access account is a savings account that allows you to withdraw money without notice. Designed for saving, these will typically offer a higher rate of interest than a current account.

Easy access savings accounts offer a great deal of flexibility. With Shawbrook, you can make unlimited withdrawals (subjected to a minimum amount) without giving us any notice. You can also manage your account online, and deposit as much as you like (up to the account’s maximum balance). The choice is yours to decide whether to receive interest annually or monthly.

Shawbrook also offers easy access cash ISAs. You can deposit up to £20,000 in the current tax year (2024/25) tax-free with these. For more information, visit our cash ISAs page.

Why choose an easy access savings account?

Whether an easy access savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:

Earn interest on your savings while having access to your money when you need it.
Deposit or withdraw money whenever you need to with no notice.
Rates of interest for easy accounts are typically lower than for fixed rate accounts or notice accounts but you’ll have flexibility in accessing funds.

Can the interest rate change on an easy access savings account?

Yes, the interest rate is variable, so it can change.

You can find out more about how interest rates can change in section 17 of our Terms and Conditions for Personal Savings Accounts, which you’ll find on our Savings documentation page.

When can I withdraw money from my easy access savings account?

You can withdraw money from your account at any point, without giving us any notice. The quickest way to do this is in your online account.

We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens.

If your online account has not been upgraded yet:

log in and select Requests
select Withdraw money and follow the steps

If your online account has been upgraded:

log in and select Move money
follow the steps

The minimum withdrawal amount is £500.
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 linked (nominated) account on the next working day.

For more information, please see our Terms and Conditions for Personal Savings Accounts.

Fixed rate savings bonds

What is a fixed rate savings bond?

A fixed rate savings bond is a type of savings account that involves putting your money away for a set period of time. Because you’re locking it away, you get a guaranteed amount of interest as we won’t change the interest rate during that time.

If you need more flexibility, a notice account or an easy access account could be right for you.

We also offer fixed rate Cash ISAs.

Why choose a fixed rate savings bond?

Whether a fixed rate savings bond is the best option will depend on your circumstances and savings goals. But some of the benefits include:

Your interest rate is fixed, so you know what return you’ll get on your investment.
Fixed rate bonds allow for higher balances than ISAs, so may work well for you if you have a larger amount of personal savings.

You can reinvest or move your funds at the end of the fixed rate term.

Can the interest rate change on a fixed rate bond?

As the interest rate is fixed, this won’t change over the term of the account.

When can I make a deposit to my fixed rate savings bond?

You can add more money to your account as long as the product is still open for funding, up to the maximum deposit amount.

If your bond is removed from sale (we'll do this when we issue new rates), you'll usually have seven days from removal to add any more funds to your account.

You can check if a product is withdrawn by checking our savings documentation page and checking the withdrawn product list.

How to make a deposit into your account.

When can I withdraw money from my fixed rate savings bond?

You will not be able to withdraw funds prior to end of your fixed term. Before expiry of your fixed term 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.

Notice savings accounts

What is a notice savings account?

A notice savings account is a type of savings account that has no fixed term but requires a notice period before you can withdraw your money. They offer more flexibility than a fixed term account. They work best if you don’t want to lock your funds away for a long time but will know in advance when you need access to your savings.

The notice period will differ depending on the account you have chosen. For example, if you choose a 45 day notice period, you’ll receive your funds 45 days after you request it.

Although notice accounts are more flexible than a fixed rate bond, the notice period means they are not suitable for people who want to access their funds at any time. For those who want even more flexibility, an easy access account could be right for you.

Why choose a notice savings account?

Whether a notice savings account is the best option will depend on your circumstances and savings goals. But some of the benefits include:

Unlike a fixed term bond (such as a 1 year fixed rate bond, for example), you don’t have to make new investment decisions at the end of the term. The money will remain in your account and keep gaining interest until you decide to withdraw, so you can leave it in the notice savings account for as long as you want.
After you’ve made the minimum deposit, there is no minimum deposit amount so you can keep topping it up as and when you like.
Having a notice period can help you make more informed decisions and avoid the temptation of dipping into savings.

When can I make a deposit to my notice savings account?

You can add money to your account, up to your maximum deposit amount, whenever you like.

How to make a deposit into your account.

When can I withdraw money from my notice savings account?

You can withdraw money from your account at any point, but you’ll need to give us notice beforehand. This notice period will depend on your account.

You can submit a withdrawal request in your online account. We're in the process of upgrading the online experience for all of our customers. We'll contact you before this happens.

If your online account has not been upgraded yet:

log in and select Requests
select Withdraw money and follow the steps

If your online account has been upgraded:

log in and select Messages and help
select your notice account and send a message specifying the amount you want to withdraw

Once your notice period has ended, we’ll send your money to you.

Can the interest rate change on a notice savings account?

Yes, the interest rate is variable, so it can change.

You can find out more about how interest rates can change in section 17 of our Terms and Conditions for Personal Savings Accounts, which you’ll find on our savings documentation page.