Close Brothers Savings savings rates — compare every account, plus switch offers and guides

Who they are

Close Brothers has been a UK merchant bank since 1878, bringing over 147 years of financial history to the table. The savings arm - Close Brothers Savings - is a subsidiary of Close Brothers Limited and has been offering personal savings accounts since 2008. The parent group provides lending, takes deposits, manages wealth and trades in securities, and is listed on the London Stock Exchange as a constituent of the FTSE 250.

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.

Savings accounts

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 run from one to five years, with rates currently sitting at 4.72% for a 1 Year Fixed Rate Bond, 4.80% for both the 2 Year and 3 Year options, and 4.85% for the 5 Year Fixed Rate Bond. The Cash ISA range mirrors that structure - 1, 2, 3 and 5 year terms - with rates between 4.67% and 4.75%. For those who want more flexibility, the Easy Access Account currently pays 3.85% (variable), and the Notice Account pays 4.10% (variable). There are no introductory bonuses on any of these - what you see is the actual rate.

Eligible deposits are protected up to £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 a lump sum of at least £10,000 and want to deal with a long-established institution rather than a newer name. The fixed-rate bonds and ISAs are the main draw - competitive across the term range, with no bonus cliffs to watch out for. The easy access rate is more modest, so if instant-access returns are your priority, it is worth comparing elsewhere first.

There are no switching bonuses here and no current account to open. 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 - use the live figures on this page to see exactly where Close Brothers stands before you apply.