Earl Shilton Building Society

Who they are

Earl Shilton Building Society was founded in 1857 as the Earl Shilton Permanent Benefit Building & Land Society, making it one of the UK's oldest continuously operating building societies. Headquartered in Earl Shilton, Leicestershire, it is currently the second-smallest building society in the UK by total assets.

As a mutual organisation, it works for people, not shareholders, and its customers are members of the society with a say in how it operates. That means no dividends to outside investors - any surplus goes back into the business for members' benefit. Its size means it can offer a personal service to all customers, treating them as individuals, with friendly and knowledgeable staff aiming for the best outcomes. It has two branches, both in Leicestershire, though its savings accounts are open to savers across the UK.

Savings accounts

The range here is broader than you might expect from a society this size. There is something for most types of saver.

For those who want to lock money away, the Fixed Rate Savings Bond Account pays 4.40% AER on a minimum of £10,000, with no access until maturity. If you prefer tax-free saving, the Triple Access Cash ISA offers 4.10% AER variable with up to three withdrawals a year, and the 2 Year Fixed Rate ISA pays 3.80% AER. Both ISAs start from just £10.

The standout account for regular savers is the Monthly Saver at 6.00% AER variable - one of the stronger rates in this category at the time of writing, and it opens from as little as £1.

For limited-access savings, Bonus One pays 3.75% AER (made up of a 2.90% bonus on top of a 0.85% base rate, for 12 months) with a minimum of £5,000 and a cap of one withdrawal per year. The Heritage account, for savers aged 50 and over, pays 3.25% AER (2.50% bonus, 0.75% base) with up to four withdrawals a year and a £1,000 minimum. Progress pays 3.10% AER (2.35% bonus, 0.75% base) with up to six withdrawals and a £100 minimum - a reasonable entry point.

For families, the Young Saver pays 3.60% AER with instant access from £10, and the Junior Cash ISA pays 3.35% AER, locked until the child turns 18.

The one weak spot is the Instant Access Savings Account at 1.00% AER - if instant access is your priority, it is worth checking the ISA and limited-access options first, or comparing across the wider market.

All accounts are protected up to £120,000 per person by the FSCS. Earl Shilton Building Society holds its own banking licence under FCA firm reference number 206078, with no shared-licence brands, so your full £120,000 allowance applies here on its own.

Is it right for you?

Earl Shilton suits savers who value a proper mutual ethos, a surprisingly wide product shelf for such a small society, and solid rates - particularly on the Monthly Saver, the fixed bond, and the Triple Access Cash ISA. The bonus-rate accounts on Bonus One, Heritage, and Progress are worth reading carefully: the headline rate includes a time-limited boost, and the base rate is much lower, so review what happens after the bonus period ends.

There is no current account switch offer, and the standard instant-access rate is not competitive. But if you are happy to commit to some notice or limited access, or want a straightforward fixed deal or tax-free ISA wrapper, this society is well worth a look.

As always, rates on variable accounts can change. Check the live figures shown on this page to make sure you are seeing the most up-to-date numbers before you apply.