West Brom Building Society

Who they are

West Brom Building Society is one of the largest building societies in the UK, with its headquarters in West Bromwich, England. The Society was formed in 1849 and, having celebrated its 175th anniversary in 2024, is one of the oldest building societies still in existence today. It remains a mutual - meaning it is owned by and run for the benefit of its members, not shareholders. It serves over 400,000 members with mortgages, savings and other financial services. While its roots are firmly in the West Midlands, its savings accounts are available more widely.

Savings accounts

West Brom offers a decent spread of options across different savings styles. For committed, regular savers the Fixed Rate Regular Saver pays 5% fixed, with the trade-off being no access until the end of the term. If you want to build a habit but keep a little flexibility, the Access Regular Saver pays 2.1% variable and lets you miss up to two monthly payments a year.

On the easy access side, the West Brom Saver pays 1.5% variable with instant access, while both the Limited Access Saver and Direct Limited Access Saver step up to 2% variable - just be aware that making seven or more withdrawals in a year will cause the rate to drop. The Direct version requires a minimum of £1,000 to open.

For tax-free savings, the 1 Year and 2 Year Fixed Rate ISAs both pay 4.15% fixed. Early access is possible but comes with a penalty - 90 days' interest on the 1-year and 150 days on the 2-year. Fixed Rate Bonds at the same 4.15% rate require a £1,000 minimum and allow no access until maturity. There is also a Children's West Brom Access Account paying 2.35% variable, with the same seven-withdrawal rule applying.

All accounts listed here are protected up to £120,000 per depositor through the UK's Financial Services Compensation Scheme (FSCS), which covers savings accounts held by private individuals.

Is it right for you?

West Brom is worth a look if you want a long-established mutual with a broad product range - from children's accounts through to fixed-rate ISAs and bonds. The Fixed Rate Regular Saver rate stands out for disciplined savers happy to lock money away. The fixed-rate bonds and ISAs offer a consistent 4.15%, which is competitive, though it is always worth comparing across the market before committing.

There are no current account switch offers in our data, so if a cash incentive to move your main banking is important to you, West Brom may not be the right fit right now.

As always, rates are variable on many accounts and the figures above can change at any time. Check the live rates shown on this page for the most up-to-date numbers before you apply.