Savings Interest Rates, Switch Offers and Guides for West Brom Building Society

Who they are

West Brom Building Society is the eighth largest building society in the UK, headquartered in West Bromwich, England. Founded in 1849, it celebrated its 175th anniversary in 2024, making it one of the oldest building societies still in existence. As a mutual organisation, the Society is owned and run for the benefit of its members, and remains committed to that principle of mutuality. Today it helps over 400,000 members with mortgages, savings, insurance and other financial services.

All West Brom savings accounts are covered by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person - slightly above the standard £85,000 limit that applies to most banks, reflecting the fact that building society members can hold a different protection level. Always check your own position with the FSCS if you hold large balances.

Savings accounts

West Brom offers a decent spread of options. The standout for committed savers is the Fixed Rate Regular Saver, paying 5.00% fixed, with no withdrawals permitted during the term and a minimum opening balance of just £1. If you want a fixed lump sum home, the 18 Month Fixed Rate Bond pays 4.90% on a minimum of £1,000, with no access until maturity.

For those who want more flexibility, the Four Access Saver is an easy-access account paying 4.05% variable - though that rate drops sharply to 1.40% if you make five or more withdrawals in a year, so it suits disciplined savers best. The 1 Year and 2 Year Fixed Rate ISAs both pay 4.05%, with early withdrawal penalties of 90 and 150 days' interest respectively.

There are also regular saver, limited access, children's, and straightforward easy-access options at lower rates - useful if you need a simple home for your cash or are saving for a child. All rates are variable unless stated as fixed, and variable rates can change at any time.

Is it right for you?

West Brom is a solid, long-established mutual with a broad enough range to suit most saving goals - from a disciplined regular saver looking for a competitive fixed rate, to someone who just needs a flexible easy-access pot. The branch network is concentrated in the West Midlands, so if you prefer face-to-face service and are based in that region, it may suit you particularly well. There are no current account switch offers to factor in.

The rates shown on this page are live and updated regularly - always check those figures before you decide, as savings rates move quickly.