Shawbrook Bank Review - Business Savings Accounts

Shawbrook Bank Review

Shawbrook Bank has a range of business easy access accounts, notice accounts, and fixed rate bonds that could be right for you depending on your circumstance.

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Updated On:
August 16, 2021

Business Savings Accounts

If your business has some spare cash to hand - even if it's for a finite period of time - it makes sense to get it working for you. 


Shawbrook Bank has a range of solutions that could be right for you depending on your circumstance.


  • You can save from £1,000 - £2,000,000
  • Access a range of business easy access accounts, notice accounts, and fixed rate bonds.

Note that these accounts are only available if you are a sole trader, limited company, partnership, or limited liability partnership.


Easy Access Accounts

  • Competitive interest rates
  • Total flexibility - withdraw cash or add to your savings whenever you like

AER: 0.50% Annually

Minimum Balance: £1,000

Maximum Balance: £85,000


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45-Day Notice Account

  • Competitive interest rates
  • Receive your money after the 45-day notice period ends

AER: 0.55% Annually

Minimum Balance: £5,000

Maximum Balance: £2,000,000


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100-Day Notice Account

  • Competitive interest rates
  • Receive your money after the 100-day notice period ends

AER: 0.75% Annually

Minimum Balance: £5,000

Maximum Balance: £2,000,000


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1 Year Fixed Rate Business Savings Bond

  • Great if you are happy to put your money away for one year
  • You will not be able to access the funds before the end of the term
  • The interest rate is fixed and cannot be changed over the term of the account

AER: 1.00% Annually

Minimum Balance: £5,000

Maximum Balance: £2,000,000


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2 Year Fixed Rate Business Savings Bond

  • Great if you are happy to put your money away for two years
  • You will not be able to access the funds before the end of the term
  • The interest rate is fixed and cannot be changed over the term of the account

AER: 1.10% Annually

Minimum Balance: £5,000

Maximum Balance: £2,000,000


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Personal Savings Accounts

Shawbrook Bank also offers a range of personal savings accounts, including easy access, notice, fixed rate bonds and cash ISA accounts with competitive interest rates.


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Frequently Asked Questions

1. Is Shawbrook Bank covered by FSCS?

Yes. Shawbrook Bank is covered by the Financial Services Compensation Scheme, which means your money is protected up to £85,000 in the event that the bank goes bust.

2. Is Shawbrook Bank safe?

Shawbrook Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA), so you can rest assured that the bank is safe.

3. What is Shawbrook Bank?

Founded in 2011, Shawbrook is a specialist UK savings and lending bank established to serve the needs of SMEs and individuals in the UK with a range of lending and saving products. As of 31st December 2020, Shawbrook's total lending reached £7.1 billion, and it has now raised more than £6.9 billion in deposits from both personal and business customers.

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Alternatives to Shawbrook

Aldermore

Business Savings Easy Access Account

AER: 0.50%

Minimum Opening Balance: £1,000

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Virgin Money

Business Access Savings Account

AER: 0.30%

Minimum Opening Balance: £1


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