Is it safe? / Shawbrook Bank
Is Shawbrook Bank safe?
Yes — Shawbrook Bank is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the Shawbrook Bank Limited banking licence (Shawbrook Group plc). Important: that limit is shared with Shawbrook — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
Shawbrook Bank Limited
Parent company
Shawbrook Group plc
The shared-limit catch
Shawbrook Bank shares its banking licence with Shawbrook. If you hold savings with more than one of these, the £120,000 FSCS limit applies to the combined total — not per brand. Spreading large balances across different licences keeps every pound protected. Check your spread →
Shawbrook Bank's current savings rates
- 5 Year Fixed Term Deposit5.01% AER
- 5 Year Fixed Rate Bond - Issue 565.01% AER
- 2 Year Fixed Term Deposit4.96% AER
- 2 Year Fixed Rate Bond - Issue 964.96% AER
- 1 Year Fixed Rate Bond - Issue 1224.87% AER
From the daily rates scrape. Compare every provider →
Worth knowing
FSCS also covers temporary high balances (house sale, inheritance) up to £1.4m for six months (raised December 2025). Compensation is automatic if a firm fails — typically paid within seven days.