Shawbrook

Who they are

Shawbrook Bank is a British retail and commercial bank whose parent company, Shawbrook Group plc, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

The bank was launched after private investors bought Whiteaway Laidlaw Bank from Manchester Building Society, rebranding it as Shawbrook Bank in October 2011.

Founded to serve customers often underserved by traditional high street banks, it focuses on tailored financial solutions for small and medium-sized enterprises, property professionals, and individual consumers.

Shawbrook operates with no high street branches - it is an online-only bank, so you apply and manage your account remotely, whether on its website, over the phone, or in some circumstances by post. Unlike a lot of other banks, Shawbrook does not have a banking app, but it does have an online savings portal. That is worth knowing upfront if you prefer managing savings through a mobile app. Its savings accounts are generally well regarded for their competitive interest rates and straightforward, easy-to-use website, with 90% of customers surveyed in 2026 saying they would recommend Shawbrook to a friend.

Savings accounts

Shawbrook currently offers three savings products tracked by DepositScout, all with a minimum opening balance of £1,000. The 45 Day Notice Account pays 4.21% AER (variable) - a reasonable middle ground if you want a better rate than easy access but can give 45 days' notice before each withdrawal. For those who can lock money away, the 2 Year Fixed Rate Bond pays 4.96% AER and the 5 Year Fixed Rate Bond pays 5.25% AER - both fixed for the full term with no access until maturity. As always with fixed bonds, only commit what you genuinely will not need during that window.

Shawbrook's eligible deposits are protected by the FSCS up to £120,000 per person, per authorised firm (banking licence). Shawbrook holds its own banking licence, so this protection is not shared with any other brand you may save with. One exception worth noting: the FSCS limit applies to the total amount you hold across all Shawbrook Bank and Whiteaway Laidlaw products , since Whiteaway Laidlaw is a trading name of Shawbrook. If you save through both, those balances count as one pot.

It is also worth knowing that Shawbrook operates behind some savings platforms - it provides the underlying banking licence for certain products sold through third-party savings hubs, so you may come across the Shawbrook name even when saving via another provider.

If you hold money with Shawbrook both directly and through a platform, check how that sits against the per-licence limit.

Is it right for you?

Shawbrook suits savers who are comfortable managing everything online and want consistently competitive rates without any bonus-rate complexity. There are no current switch offers, so the appeal is straightforward - strong fixed rates and a solid, regulated UK bank behind them.

It is not a household name in the way that Lloyds or Barclays are, but among experienced savers who actively shop for rates, the brand is well recognised. If a polished mobile app is important to you, it may not be the best fit. But if you want a dependable home for a lump sum - particularly in a fixed-rate bond - it is worth a look.

Rates change, so use the live figures shown on this page to make sure you are seeing the most up-to-date picture before you decide.