Savings Interest Rates, Switch Offers and Guides for Shawbrook

Who they are

Shawbrook Bank is a UK-based specialist savings and lending bank. It was founded in 2011 following the acquisition and rebranding of Whiteaway Laidlaw Bank, and has built its name by serving customers often underserved by traditional high-street banks. Its parent company, Shawbrook Group plc, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The bank focuses on providing tailored financial solutions to small and medium-sized enterprises, property professionals, and individual consumers. For savers, it is probably best known for offering consistently competitive rates - and it powers products for third-party platforms too, including savings marketplaces.

Savings accounts

The one product currently shown on DepositScout for Shawbrook direct is a 45 Day Notice Account, paying 4.16% variable, with a minimum balance of £1,000. You give 45 days' notice before withdrawing, so it suits money you do not need on demand but want to keep reasonably accessible. The rate is variable, meaning it can move up or down.

It is worth knowing that Shawbrook also operates behind some savings platforms. For example, it provides the underlying banking licence for certain products sold through third-party savings hubs, so you may come across the Shawbrook name even when saving via another provider.

FSCS protection on Shawbrook accounts covers eligible deposits up to £120,000 per person under Shawbrook's own banking licence - one of the higher-tier limits since the FSCS raised the threshold. If you hold money with Shawbrook both directly and through a platform, check how that sits against the per-licence limit.

Is it right for you?

Shawbrook is a solid, established UK bank rather than a flashy app-first challenger. If you want a notice account with a decent variable rate and straightforward FSCS cover, it is worth a look. There are no current account switch offers in the DepositScout data, so this is purely a savings play for now.

The 45-day notice period is the main trade-off to weigh. It gives better rates than instant-access accounts typically do, but you need to plan ahead if you think you might need the cash. If flexibility matters more to you, easy-access options elsewhere may suit better.

Rates move regularly, so use the live figures on this page to check exactly where Shawbrook sits in the tables today before you decide.