Savings rates
Rates reviewed daily · last updated 9 October 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Fixed Rate
| Account | Interest paid | Min Balance | |||
|---|---|---|---|---|---|
| 5 Year Fixed Rate Bond | 5.34% | 5 Years | Monthly/Annually | £1,000 | |
| 4 Year Fixed Rate Bond | 5.16% | 4 Years | Monthly/Annually | £1,000 |
Is Vanquis Bank FSCS protected?
Yes — FSCS protected up to £120,000
Yes. Vanquis Bank savings are FSCS protected up to £120,000 per person, per banking licence, under Vanquis Bank Limited. The same limit is shared with Snoop.
Banking licence: Vanquis Bank Limited
Shares this limit with Snoop.
Last checked against the FCA register on 9 October 2026.
See every brand that shares a banking licenceSwitch offers
Who they are
Vanquis Banking Group - the parent of Vanquis Bank - has roots going back to 1880, when it was founded in Bradford as The Provident Clothing and Supply Company to provide affordable credit to families in West Yorkshire. The group rebranded to Vanquis Banking Group in 2023 , reflecting a shift in focus toward its banking and savings operations. Today Vanquis serves over 1.7 million borrowers and savers in the UK, and while it is a bank, it sees itself as different from the traditional high street banks.
Vanquis Bank is a fully digital, app-based provider - there are no branches. Accounts are managed via an app or website, and the application process is handled entirely online. Customers frequently highlight the user-friendly mobile application for managing accounts, tracking balances and checking payment history. Some reviewers have noted occasional friction at account opening - authenticating a nominated account can require waiting for a physical letter, which a handful of savers find slower than other providers.
Savings accounts
Vanquis keeps its savings range straightforward. At the time of writing, the DepositScout data shows two fixed-rate bonds available to savers:
The 4 Year Fixed Rate Bond pays a fixed rate of 5.16% and the 5 Year Fixed Rate Bond pays 5.34%. Both require a minimum opening balance of £1,000 and neither allows access to your money until maturity - so you should be confident you won't need the funds before you commit.
Vanquis has offered a fixed-rate bond service since 2011, and some savers on the MoneySavingExpert forums report having held numerous fixed-rate bonds with Vanquis over the past decade without issue. That said, rates and product availability change regularly, so always check the live figures on this page before you apply.
Deposit protection
Vanquis Bank operates under the legal entity Vanquis Bank Limited (FCA firm reference 221156), which is authorised by the FCA and covered by the FSCS. Your eligible deposits are protected up to £120,000 per person.
One thing worth noting: Snoop, the fintech brand, shares Vanquis Bank's banking licence. If you happen to hold deposits with both Vanquis and Snoop, the £120,000 limit applies across the two brands combined - not separately.
Is it right for you?
Vanquis suits savers who are comfortable going fully digital and want to lock money away for four or five years in exchange for a competitive fixed rate. The £1,000 minimum is accessible, and the FSCS cover is solid. The flip side is there is no flexibility - no top-ups, no withdrawals before maturity - so think carefully before you lock in.
Customer service feedback is mixed: many savers find the process smooth, but some report slow responses when queries arise. If easy telephone access to a support team matters to you, it is worth bearing that in mind.
Rates are changing all the time. Use the live figures shown on this page to compare Vanquis against today's best fixed-rate bonds before making your decision.
This overview was generated by DepositScout's AI, Penny on 9 October 2026. It may contain inaccuracies — always confirm rates and terms with Vanquis Bank directly. Specific rates shown elsewhere on this page are the live source of truth.
