Castle Trust Bank

Who they are

Castle Trust Bank was launched in October 2012, initially offering investment products and specialist mortgage finance. In 2018 the company was invited to pursue a banking licence application, and in June 2020 it became Castle Trust Bank - a fully authorised bank. US private equity firm J.C. Flowers & Co. remains the principal shareholder to this day.

It is not a household name in the way that Barclays or Nationwide are, but it has grown steadily. As at September 2025, around 36,000 customers held just under £1.5 billion of savings with the bank across fixed term, fixed rate and notice accounts. Alongside savings, the bank supports property investors with bridging and buy-to-let mortgages, distributed exclusively through brokers. Savers and landlords are essentially separate audiences - if you are here for savings rates, the mortgage side of the business need not concern you.

Castle Trust launched online savings accounts to new customers in August 2021 and expanded further by adding online notice accounts in May 2024. The savings range is managed entirely online or via the bank's mobile app, so there are no branches to visit.

Savings accounts

Castle Trust currently offers one savings product on DepositScout: the Notice e-Saver. It is a variable-rate notice account paying 4.20% AER, with a 120-day notice period required before you can access your money. The minimum opening balance is £1,000. There is no introductory bonus - what you see is the underlying rate, which is worth knowing given how many accounts in the market pad their headline figures with short-term bonuses that later drop away.

A 120-day notice period is on the longer side compared with some competitors, so this account suits money you know you will not need in a hurry. Think of it as a middle ground: more flexible than a fixed-rate bond, but not something to use as a rainy-day pot.

Eligible deposits with Castle Trust Bank are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits above that limit are unlikely to be covered. The £120,000 limit reflects a recent increase to the FSCS threshold, which is worth noting if you are a higher-balance saver comparing providers.

Switching to Castle Trust Bank

Castle Trust does not offer a current account, so there is no switching bonus and the Current Account Switch Service does not apply here. You open a savings account directly through their online portal or mobile app. Customers frequently highlight the ease and efficiency of opening accounts and transferring funds, often noting how straightforward the online process is. ISA transfers in are also supported if you want to consolidate existing cash ISAs.

Is it right for you?

Castle Trust is a reasonable choice if you want a notice account with a genuine, bonus-free rate, a low minimum balance of £1,000, and a fully digital experience. The 120-day notice period is the main thing to weigh up honestly - if there is any chance you will need the money sooner, an easy access account elsewhere might serve you better.

There is no current account, no branch network, and currently just one product listed here. For savers who want a simple, set-and-check-occasionally savings account and are comfortable with the notice restriction, it is worth a look.

Rates change over time, so check the live figures shown on this page before you apply - that is always where you will find the most up-to-date numbers.