Savings Interest Rates, Switch Offers and Guides for Close Brothers Savings

Who they are

Close Brothers has over 147 years of expertise as a leading UK merchant bank, with roots going back to 1878. Close Brothers Savings, a subsidiary of Close Brothers Limited, has been providing dedicated personal savings accounts and business savings accounts since 2008. It sits at the more traditional end of the market - a proper bank with real history behind it, not a fintech app. Personal customers can speak directly to a named member of their London-based customer services team over the phone , which sets it apart from most digital-only providers. The parent group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Savings accounts

Close Brothers keeps things focused. The range covers fixed-rate bonds, fixed-rate Cash ISAs, a notice account and an easy access account - all requiring a minimum balance of £10,000, so this is firmly aimed at savers with a meaningful lump sum ready to deploy.

Fixed-rate bonds are where Close Brothers tends to be most competitive. Current rates run from 4.80% on the 1 Year Fixed Rate Bond up to 4.97% on the 5 Year Fixed Rate Bond, with the 2 Year and 3 Year options sitting at 4.83% and 4.88% respectively. The fixed Cash ISA range mirrors that structure, with the 1 Year at 4.61%, the 2 Year at 4.72%, the 3 Year at 4.75% and the 5 Year at 4.81%. If you want flexibility, the Easy Access Account pays 3.85% (variable) and the Notice Account pays 4.10% (variable) - both solid, though the fixed options are where the stronger numbers sit.

Eligible deposits held by a UK establishment of Close Brothers Limited are protected up to a total of £120,000 by the FSCS - worth noting, as that is higher than the standard £85,000 limit that applies to most banks.

Is it right for you?

Close Brothers suits savers who have at least £10,000 to set aside and would rather deal with an established bank than a newer name. There are no switch bonuses or introductory gimmicks here - the appeal is straightforward rates, long-standing stability and human customer service. If you need to drip money in gradually, or your balance is below the £10,000 minimum, it is not the right fit.

Rates move regularly, so use the live figures on this page to see exactly where Close Brothers sits in the market before you apply.