Charter Savings Bank savings accounts review

Could a savings account from Charter Savings Bank be right for you?

No reviews yet. Write a review
Charter Savings Bank

Established in 2015, Charter Savings Bank is a retail savings bank offering a broad range of online savings accounts, including cash ISAs. Below, we review these accounts in detail.

Charter Savings Bank's top savings rate of 5.06% is available on one of its notice accounts.

Easy access savings accounts

Table: sorted by interest rate
Charter Savings Bank's best easy access rate of 4.61% is significantly lower than today's market-best rate of 7.29%.
1 - 4 of 4
Name Product UKFSA-SAV Account type Withdrawals Min. opening balance Rate Deposit protection Open via Incentive Apply link
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Cash ISA
Instant access
£5,000
4.61% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Cash ISA
Instant access
£5,000
4.61% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – Easy Access - Issue 53
Charter Savings Bank – Easy Access - Issue 53
Variable
Instant access
£5,000
4.5% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – Easy Access - Issue 53
Charter Savings Bank – Easy Access - Issue 53
Variable
Instant access
£5,000
4.5% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
loading
Compare more instant and easy access accounts up to 7.29%

Cash ISAs

Table: sorted by interest rate
Charter Savings Bank's best cash ISA rate of 4.61% is slightly lower than today's market-best rate of 5.13%.
1 - 4 of 4
Name Product UKFSA-SAV Rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Charter Savings Bank – Easy Access Cash ISA - Issue 51
4.61% AER variable
£5,000
Anniversary of account opening
Instant access
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – Easy Access Cash ISA - Issue 51
Charter Savings Bank – Easy Access Cash ISA - Issue 51
4.61% AER variable
£5,000
Monthly
Instant access
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – 1 Year Fixed Rate Cash ISA
Charter Savings Bank – 1 Year Fixed Rate Cash ISA
4.5% AER fixed for 1 year
£5,000
Anniversary of account opening
Instant access (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – 1 Year Fixed Rate Cash ISA
Charter Savings Bank – 1 Year Fixed Rate Cash ISA
4.5% AER fixed for 1 year
£5,000
Monthly
Instant access (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
loading
Compare more ISAs up to 5.13%

Fixed-rate bonds

Table: sorted by interest rate
Charter Savings Bank's best fixed-rate bond rate of 4.62% is very slightly lower than today's market-best rate of 5%.
1 - 2 of 2
Name Product UKFSA-SAV Rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Charter Savings Bank – 1 Year Fixed Rate Bond
Charter Savings Bank – 1 Year Fixed Rate Bond
4.62% AER fixed for 1 year
£5,000 - £1,000,000
Monthly
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
Charter Savings Bank – 1 Year Fixed Rate Bond
Charter Savings Bank – 1 Year Fixed Rate Bond
4.62% AER fixed for 1 year
£5,000 - £1,000,000
Anniversary of account opening
Withdrawals not permitted
Website
FSCS logo
protected
Open via: website
Go to site
View details
loading
Compare more fixed-rate bonds up to 5%

Notice savings accounts

Table: sorted by interest rate
Charter Savings Bank's best notice savings account rate of 5.06% is very slightly lower than today's market-best rate of 5.2%.
1 - 5 of 8
Name Product UKFSA-SAV Account type Withdrawals Open with Deposit protection Rate Open via Incentive Table product description Apply link
Charter Savings Bank – 60 Day Notice - Issue 33
Charter Savings Bank – 60 Day Notice - Issue 33
Variable
60 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
5.06% AER variable
Open via: website
Go to site
View details
Charter Savings Bank – 60 Day Notice - Issue 33
Charter Savings Bank – 60 Day Notice - Issue 33
Variable
60 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
5.06% AER variable
Open via: website
Go to site
View details
Charter Savings Bank – 95 Day Notice - Issue 67
Charter Savings Bank – 95 Day Notice - Issue 67
Variable
95 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
5% AER variable
Open via: website
Go to site
View details
Charter Savings Bank – 95 Day Notice - Issue 67
Charter Savings Bank – 95 Day Notice - Issue 67
Variable
95 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
5% AER variable
Open via: website
Go to site
View details
Charter Savings Bank – 120 Day Notice - Issue 31
Charter Savings Bank – 120 Day Notice - Issue 31
Variable
120 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
4.96% AER variable
Open via: website
Go to site
View details
loading
Compare more notice savings accounts up to 5.2%

What is Charter Savings Bank's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Charter Savings Bank offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds, notice accounts
Best easy access rate 4.61%
Best cash ISA rate 4.61%
Best fixed-rate bond rate 4.62%
Best notice account rate 5.06%
Fixed bond terms 1 year
Notice account periods available 30 days - 120 days
Opening options Website
FSCS protection

How to open an account

You can open a Charter Savings Bank savings account online. If you’re an existing customer, log in to your existing account and select “Open another account” at the top of the screen.

If you’re a new customer, you’ll need to fill in an online form. Before applying, have your bank account and sort code details to hand. You’ll also need to provide:

  • Your personal details
  • Your address
  • Your contact details

Once you’ve filled in the form and created a password for online banking, you’ll be told whether your application has been successful or if any further information is required.

Charter Savings Bank provides a handy video on its website to explain the application process if you need help.

Is Charter Savings Bank safe?

Charter Savings Bank is a trading name of Charter Court Financial Services Limited, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.

All eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), rising to £170,000 for joint accounts.

Pros and cons of Charter Savings Bank

Pros

  • Variety of accounts. Choose from fixed rate, easy access, notice or cash ISA accounts.
  • Flexible interest payments. Decide whether you want interest paid monthly or annually.
  • FSCS protection. Money in accounts is protected up to £85,000 per person.

Cons

  • Online only accounts. You’ll currently only be able to manage your savings account online.
  • Better rates elsewhere? Charter Savings Bank offers competitive interest rates, but it’s worth checking what’s on offer elsewhere, too.
  • High deposit requirement. You’ll need at least £5,000 to open an account.

Our verdict: Is a savings account from Charter Savings Bank worth it?

Charter Savings Bank offers a variety of competitive savings accounts, whether you’re hoping to lock your money away for a while or you’d prefer to have instant access to your funds.

However, you’ll need to be happy operating your account online, so if you’d prefer branch access, look elsewhere. Check out our other reviews before deciding whether Charter Savings Bank is definitely the best option for you.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Hide
Holly Jennings's headshot
To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
Rachel Wait's headshot
Written by

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

More guides on Finder

  • Moneybox vs Hargreaves Lansdown (HL)

    Hargreaves Lansdown and Moneybox are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneybox vs Hargreaves Lansdown (HL).

  • How to get free money online: Ways and tips to earn free cash

    Free money might sound too good to be true, but there are many ways you can get your hands on some extra cash.

  • Moneyfarm vs Hargreaves Lansdown (HL)

    Hargreaves Lansdown and Moneyfarm are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneyfarm vs Hargreaves Lansdown (HL).

  • Vanguard vs Freetrade

    Freetrade and Vanguard are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Vanguard vs Freetrade.

  • Bex Card review: A prepaid card for kids with a low fee.

    If your child is aged between 6 and 18, the Bex card could be the first step to giving them some financial freedom.

  • XTB vs Trading 212

    Trading 212 and XTB are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side XTB vs Trading 212.

  • Moneybox vs Trading 212

    Trading 212 and Moneybox are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneybox vs Trading 212.

  • InvestEngine vs Trading 212

    Trading 212 and InvestEngine are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in InvestEngine vs Trading 212.

  • Best day trading stocks for 2024

    Find out how to spot some of the best day trading stocks available in the UK and abroad, along with tips for managing your investment portfolio on a day-to-day basis.

  • Wealthify vs Vanguard

    Vanguard and Wealthify are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in Wealthify vs Vanguard.

Go to site