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

Who they are

Shawbrook Bank is a UK-based specialist savings and lending bank, founded in 2011 following the acquisition and rebranding of Whiteaway Laidlaw Bank. Its parent company, Shawbrook Group plc, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The bank has carved out a solid reputation by focusing on savers and borrowers who tend to get a poor deal from the big high-street names. For savers in particular, it is probably best known for offering consistently competitive rates - and it also powers products for third-party platforms, including savings marketplaces. Shawbrook does not have a banking app, but it does run an online savings portal for managing accounts directly.

The savings account on offer

The one Shawbrook product currently tracked on DepositScout is the 45 Day Notice Account. It pays 4.21% AER variable, requires a minimum of £1,000 to open, and - as the name suggests - you give 45 days' notice before withdrawing. That makes it a decent home for money you will not need in a hurry but still want to keep within reach, rather than locked away in a fixed-rate bond.

There are no current account switch offers attached to Shawbrook's direct products.

FSCS protection and the Whiteaway Laidlaw link

Shawbrook holds its own UK banking licence, and the FSCS will protect funds across all of your Shawbrook accounts up to a maximum value of £120,000 for sole account holders or £240,000 for joint accounts. One thing worth knowing: the FSCS limit applies to the total amount you hold across all Shawbrook Bank and Whiteaway Laidlaw products. Whiteaway Laidlaw is Shawbrook's brand used on savings marketplace platforms, so if you hold Shawbrook savings both directly and through a platform like Hargreaves Lansdown Active Savings, those balances count together toward your £120,000 limit.

Is it right for you?

Shawbrook suits savers who want a straightforward online account from a bank with a track record of competitive rates, and who are comfortable giving a notice period before dipping in. It is not the place to look if you need instant access or want to manage everything through a smartphone app. The 4.21% variable rate on the notice account is the live figure to judge - rates change, so the live table on this page is always the most up-to-date guide.