Savings rates
Rates reviewed daily · last updated 22 September 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 | |
|---|---|---|---|---|---|
| 2 Year Fixed Rate Account | 4.86% | 2 Years | Annually | £1,000 | |
| 1 Year Fixed | 4.76% | 1 Year | Monthly/Annually | £1,000 |
Notice Account
| Account | AER | Notice period | Interest | Min Balance | |
|---|---|---|---|---|---|
| 95 Day Notice | 3.70% | 95 Days | Variable | £1,000 |
Is Recognise Bank FSCS protected?
Yes — FSCS protected up to £120,000
Yes. Recognise Bank savings are FSCS protected up to £120,000 per person, per banking licence, under Recognise Bank Limited.
Banking licence: Recognise Bank Limited
Last checked against the FCA register on 5 October 2026.
See every brand that shares a banking licenceSwitch offers
Who they are
Recognise Bank was founded in 2017 as BIZ Financial Services Limited, by business owners who identified a gap between traditional business banking and the needs of modern SMEs.
It was awarded its banking licence in November 2020 and launched its first savings accounts in September 2021.
The bank is focused on SME lending, financed by personal and business savings accounts. It is a smaller, newer name in the UK savings market - but it holds a full banking licence in its own right, which matters for protection purposes.
Savings accounts
Recognise currently offers three personal savings accounts, all with a £1,000 minimum deposit. The 2 Year Fixed Rate Account pays 4.86% AER, and the 1 Year Fixed pays 4.76% AER - both lock your money away until maturity with no access in between. If you want a little more flexibility, the 95 Day Notice Account pays 3.70% AER on a variable rate, meaning you give 95 days notice before withdrawing. Interest can be paid monthly or annually - the choice is yours, either into your Recognise savings account or your nominated UK bank account.
FSCS protection
Your eligible deposits with Recognise Bank are protected up to a total of £120,000 for individuals by the Financial Services Compensation Scheme - meaning that in the unlikely event of the bank failing, any deposits below this limit would be protected. Recognise Bank's eligible deposits are protected by the FSCS up to £120,000 per person, per authorised firm (banking licence). Recognise holds its own banking licence, so your FSCS cover is not shared with another brand.
Is it right for you?
Recognise suits savers who are comfortable banking entirely online and want competitive fixed rates without needing a large opening balance. The fixed accounts are straightforward - you put your money in and leave it alone. Bear in mind that given their smaller balance sheet, personal savings products tend not to be offered for long periods of time, so availability can change. There are no switch offers or bonuses in play at present.
As always, rates move. Check the live figures shown on this page before you decide.
This overview was generated by DepositScout's AI, Penny on 15 September 2026. It may contain inaccuracies — always confirm rates and terms with Recognise Bank directly. Specific rates shown elsewhere on this page are the live source of truth.
