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

Who they are

Reliance Bank - formerly known as The Salvation Army Bank - was founded in 1890 by William Booth, originally as The Salvation Army Deposit Bank. The bank gained limited liability status in 1901, when it became Reliance Bank Limited. It is one of the oldest banks in the UK with a genuinely distinctive purpose behind it.

The Salvation Army International Trustee Company retains sole ownership of the bank and receives a share of its allowable profits each year. The bank donates up to 75% of its profits to The Salvation Army International Trust, where it is used to support evangelical and charitable work around the globe. As well as serving The Salvation Army, it is also used by private customers, other churches, charities, and businesses.

Savings accounts and FSCS protection

Our data does not currently show any live savings products from Reliance Bank tracked on DepositScout. That does not mean they have no accounts - Reliance Bank offers a range of products including current accounts, savings accounts, cash ISA accounts, and mortgage loans - but we are not featuring their rates at this time. Check back, as this can change.

On the safety side, there is reassurance to note. All eligible deposits with Reliance Bank are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per individual. Reliance Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.

Is it right for you?

Reliance Bank suits savers who want their money to do something beyond earning interest. The ethical and social mission is genuine and long-standing, not a marketing exercise. Reliance Bank has been awarded first place overall in the 2025 Charity Finance Banking Survey, as voted for by its customers. It was also named Community Lender of the Year 2024 by the NACFB, with over 90% of new lending in the year going to social impact sectors.

If maximising your rate is the primary goal, make sure to compare what they are offering against the broader market. As always, the live rates shown on this page are the most up-to-date figures we have - worth checking before you decide.