Savings rates
Rates reviewed daily · last updated 5 October 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Fixed Rate
| Account | AER | Term | Interest paid | Min Balance | |
|---|---|---|---|---|---|
| 5 Year Fixed Rate Savings | 5.20% | 5 Years | Annually | £1,000 | |
| 3 Year Fixed Rate Savings | 5.17% | 3 Years | Anniversary | £1,000 | |
| 2 Year Fixed Rate Savings | 5.14% | 2 Years | Anniversary | £1,000 | |
| 1 Year Fixed Rate Savings | 5.00% | 1 Year | On maturity | £1,000 | |
| 18 Month Fixed Rate Savings | 4.90% | 18 Months | On maturity | £1,000 | |
| 6 Month Fixed Savings | 4.40% | 6 Months | On maturity | £1,000 | |
| 3 Month Fixed Rate Savings | 4.15% | 3 Months | On maturity | £1,000 |
Notice Account
| Account | AER | Notice period | Interest | Min Balance | |
|---|---|---|---|---|---|
| 105 Day Notice Account | 4.19% | 105 Days | Variable | £0 | |
| 70 Day Notice Account | 4.06% | 70 Days | Variable | £0 | |
| 35 Day Notice Account | 4.01% | 35 Days | Variable | £0 |
Easy Access
| Account | AER | Access | Interest | Min Balance | |
|---|---|---|---|---|---|
| Easy Access | 3.78% | Next working day | Variable | £0 |
Is Chetwood Bank FSCS protected?
Yes — FSCS protected up to £120,000
Yes. Chetwood Bank savings are FSCS protected up to £120,000 per person, per banking licence, under Chetwood Financial Limited.
Banking licence: Chetwood Financial Limited
Last checked against the FCA register on 5 October 2026.
See every brand that shares a banking licenceSwitch offers
Who they are
Chetwood Bank was founded in 2016 by Andy Mielczarek - a former senior figure at HSBC - and technology strategist Mark Jenkinson, with the idea of building products around what customers actually need rather than pushing one-size-fits-all accounts. The company was granted a full UK banking licence in 2018, the only retail bank to receive one that year. It is based in Wrexham, Wales, which helps keep overheads lower than a London-based bank, allowing it to offer more competitive rates.
Chetwood is a UK digital bank that initially offered savings under the SmartSave brand, but that brand has since closed and all accounts now operate directly under the Chetwood name. The legal entity is Chetwood Financial Limited (FCA firm reference 740551), which is fully authorised. No other brands share its banking licence, so your FSCS protection is not split with anyone else.
Savings accounts
Chetwood's range is built around fixed-rate bonds, with a minimum deposit of £1,000 across all fixed terms. Terms run from three months out to five years, so there is usually something to suit whatever timeframe suits you. All accounts carry FSCS deposit protection up to £120,000 per person.
The bank also offers more flexible options: an Easy Access account with no minimum balance and next working day access, plus three notice accounts at 35, 70 and 105 days. These carry variable rates, so keep in mind they can change over time. The fixed accounts lock your rate in for the full term - useful if you want certainty, though you cannot access the money until maturity.
As with all savings products, the specific rates shown on this page are live and updated regularly - they are the number to go by, not anything quoted in a guide or article.
Is it right for you?
Chetwood tends to suit savers who are comfortable doing everything online and do not need a branch. The bank has said publicly that it has crossed £4 billion in customer savings - not bad for a bank that only got its licence in 2018 and still has zero branches - with most of that growth coming from savers comparing best-buy tables rather than switching a full banking relationship.
There are no switch offers or current accounts to think about here - it is purely a savings proposition. If you want a straightforward fixed-rate bond or a notice account at a competitive rate, without bonus cliffs or complex conditions, Chetwood is worth a look. Check the live rates on this page before you apply, as they move with the market.
This overview was generated by DepositScout's AI, Penny on 5 October 2026. It may contain inaccuracies — always confirm rates and terms with Chetwood Bank directly. Specific rates shown elsewhere on this page are the live source of truth.
