New savings products launched by Shawbrook

The Bank’s new 120 Day Notice Account rate Issue 15 pays 1.85% AER.

The new 95 Day Notice Account will pay 1.75%.

Its new 3 year Fixed Rate Bond will offer savers 2.65% AER

The new 5 Year Fixed Rate Bond, one of Shawbrook’s most popular savings products for 2013, will pay 3.10% AER.

The new products are available online or by post making it easily accessible for new and existing customers.

Savers can invest any amount from £5,000 to a maximum of £2m for the Fixed Rate Bonds (larger amounts available on request) and any amount from £1,000 to a maximum of £500,000 for the 120 Day and 95 Day Notice Accounts. The interest paid can be either gross or net according to an individual’s tax status and is paid on 31 December each year and on maturity.

James Blower, Director of Savings at Shawbrook Bank said:

“These new rates reflect Shawbrook’s commitment to being consistently competitive in our offering to savers. This week’s Budget statement from the Chancellor contained some unexpected, but much needed, good news for savers and we hope that these highly competitive products provide further cheer for savers.”

The new rates are available immediately.

Shawbrook Bank’s savings team is based in Brentwood and looks after 40,000 customers.