GB Bank savings rates — compare every account, plus switch offers and guides

Who they are

GB Bank was founded in 2017 and gained its full banking authorisation in 2022 , making it one of the newer names in the UK savings market. The Middlesbrough-based bank has carved out a niche by using retail deposits to fund bespoke loans to property developers regenerating underserved communities in the North East, Yorkshire and the North West. In 2024, a significant investment from Hera Holdings boosted its lending capacity further. It is a small, specialist bank - not a household name - but it is fully authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Savings accounts

GB Bank keeps its savings range simple: a set of fixed-rate bonds and notice accounts, all managed online. Every account has a £1,000 minimum deposit. On the fixed side, terms run from six months to five years, with rates currently sitting between 4.49% (6 months) and 4.98% (5 years). The 1-year bond pays 4.77%, the 2-year pays 4.85%, and the 3-year pays 4.87%. For savers who want some flexibility without easy access, the 120 Day Notice Account pays 4.08% (variable) and the 150 Day Notice Account pays 4.38% (variable) - the latter recently increased from 4.20% and currently sits at the top of the notice account market.

One thing worth knowing: GB Bank is covered by the FSCS, and your total savings are protected up to £120,000 per person - higher than the standard £85,000 limit that applies at most banks.

You will need to nominate a linked current account to fund your savings - if money arrives from any other account it is returned to sender. Withdrawals go back to the same account. It is a security feature designed to protect against fraud. Once your account is running, you can manage it via the GB Bank app.

Is it right for you?

GB Bank suits savers who are happy to lock money away - or give meaningful notice - in exchange for competitive rates. There are no easy access accounts here, no ISAs, and no current account switch offers. If locking away funds for up to five years is a stretch, the notice accounts offer a middle ground, though 120 or 150 days is still a significant commitment. The above-standard FSCS limit of £120,000 is a genuine plus for those with larger deposits.

As with any savings provider, rates can and do change. Check the live figures on this page to see exactly what GB Bank is paying right now before you decide.