Habib Bank AG Zurich savings rates — compare every account, plus switch offers and guides

Who they are

Habib Bank AG Zurich is a privately owned bank founded in 1967 in Zurich, Switzerland. It commenced operations in the United Kingdom in 1974 as a branch, and in 2016 a wholly-owned UK-incorporated subsidiary - Habib Bank Zurich plc - took over the operations of that branch. Today it offers banking services through a network of eight branches located in London, Manchester, Leicester, and Birmingham. The bank has a long-standing reputation in Islamic finance alongside its conventional offering - it launched its Sirat Islamic banking service in the UK , and has picked up several industry awards in that space in recent years. The UK entity is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Savings accounts

Habib Bank AG Zurich keeps its UK savings range tight and focused: two fixed-rate eDeposit accounts, both managed online. The 12-month option currently pays 3.00% fixed, and the 6-month option pays 2.50% fixed. Both require a minimum opening balance of £5,000, and neither allows access to your money before the end of the term - so these accounts suit savers who can set funds aside and leave them alone.

Those rates are correct at the time of publication, but fixed-rate deals can change at any time, so always check the live figures shown on this page before applying.

FSCS protection

One thing worth noting is that the FSCS coverage limit here differs from the standard £85,000 you see at most UK banks. Because Habib Bank AG Zurich holds a separate banking licence from the big high-street names, deposits up to £120,000 are covered by the UK's deposit guarantee scheme - a higher ceiling than the usual limit. The bank participates in the Financial Services Compensation Scheme (FSCS), making regular contributions into it. As always, the protection applies per depositor, per institution, so it is worth factoring that in if you hold savings elsewhere too.

Is it right for you?

Habib Bank AG Zurich is worth a look if you have at least £5,000 to lock away and want a straightforward fixed-rate deal from a long-established bank with a solid UK presence. There are no easy-access or cash ISA options in its current savings lineup, and no switch offers at present, so it is a narrow but focused proposition. The higher-than-usual FSCS limit is a genuine plus for anyone depositing larger sums.

Use the live rate comparison on this page to see how the current figures stack up against the wider market before you decide.