Hampshire Trust Bank savings accounts review

Established in 1977, Hampshire Trust Bank is a privately owned specialist bank that provides asset finance, specialist mortgages and development finance solutions. It also offers a number of savings accounts.

Hampshire Trust Bank's top savings rate of 4.81% is available on one of its fixed-rate bond accounts.

Easy access savings accounts

Hampshire Trust Bank's best easy access rate of 4.15% is significantly lower than today's market-best rate of 7.29%. Compare more instant and easy access accounts up to 7.29%

Cash ISAs

Hampshire Trust Bank's best cash ISA rate of 4.46% is slightly lower than today's market-best rate of 5%. Compare more ISAs up to 5%

Fixed-rate bonds

Hampshire Trust Bank's top fixed-rate bond rate of 4.81% is the best currently on the market. Compare more fixed-rate bonds up to 4.81%

Notice savings accounts

Hampshire Trust Bank's best notice savings account rate of 3.95% is lower than today's market-best rate of 5.2%. Compare more notice savings accounts up to 5.2%

Business savings accounts

Hampshire Trust Bank's best business savings account rate of 4.55% is very slightly lower than today's market-best rate of 5%. Compare more business savings accounts up to 5%

What is Hampshire Trust 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 Hampshire Trust Bank offers, plus the highest interest rate currently available.

Savings account types include	Easy access, cash ISAs, fixed-rate bonds, notice accounts, business
Best easy access rate	4.15%
Best cash ISA rate	4.46%
Best fixed-rate bond rate	4.81%
Best notice account rate	3.95%
Best business savings account rate	4.55%
Fixed bond terms	6 months - 5 years
Notice account periods available	95 days
Opening options	Website
FSCS protection

How to open an account

To open a savings account with Hampshire Trust Bank, you will need to be at least 18 years old and a UK resident. Accounts can be opened online, but if you’re an existing customer, you can also phone or email the bank and it will open the account for you.

You will need to provide personal details such as your name, date of birth and address as well as your existing current account details (this must be with a UK bank).

Documents needed to open an account

You will only need to provide documents if Hampshire Trust Bank is unable to verify your identity and address electronically. In this case, you will need to provide proof of ID such as a passport or driving licence and proof of address such as a council tax bill, utility bill or bank statement.

Is Hampshire Trust Bank safe?

Yes, Hampshire Trust Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. All eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS).

Pros and cons

Our verdict: Is a savings account from Hampshire Trust Bank worth it?

The fact you can open almost all Hampshire accounts with just £1 is appealing. Overall, its range of accounts is fairly standard, with some competitive deals. When it periodically issues a table-topping rate, it would be a sensible bet.

Frequently asked questions

• Can I cancel my account if I change my mind?

  If you change your mind after opening your account, you have 14 days in which to cancel it and any money paid into the account will be returned to you.

• What happens when my fixed rate bond matures?

  Hampshire Trust Bank will write to you a month before your bond matures to ask you what you would like to do. You will have the option of withdrawing your funds, reinvesting them in a new bond or a combination of the two.

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.