Vanquis Bank savings accounts review
Vanquis Bank offers a broad range of savings accounts with interest rates up to 4.51%.

Vanquis Bank was established in 2003 by Provident Financial Group to market-test its first credit card. The bank specialises in offering solutions for those who can’t access mainstream credit, but it also offers a range of fixed rate savings accounts.
Vanquis Bank's top savings rate of 4.46% is available on one of its fixed-rate bond accounts.
We currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseThe 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 Vanquis 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 | 4.35% |
Best cash ISA rate | 4.35% |
Best fixed-rate bond rate | 4.46% |
Best notice account rate | 4.17% |
Fixed bond terms | 1 year - 5 years |
Notice account periods available | 30 days |
Opening options | Website |
FSCS protection |
To open an account with Vanquis Bank, you must be at least 18 years old and a UK resident. You must open the account online, and you will need to provide personal details such as your name, address and National Insurance number. You will also need to provide the account number and sort code of your personal bank account to set up a nominated account for transferring funds. It should only take 10 minutes to complete your application.
The account can be managed online, by post or over the phone.
In certain circumstances, you may need to provide further information to confirm your identity and address.
Proof of identity can include the following:
Proof of address can include the following:
Yes, Vanquis Bank savings accounts are covered by the Financial Services Compensation Scheme (FSCS). This means that all eligible deposits are protected up to a total of £85,000, or £170,000 for joint savings accounts, so you’ll get your money back if the bank ceases trading.
If you’ve got a lump sum to invest and you’re looking for a high-interest savings account to store it in, the fixed rate bonds on offer from Vanquis Bank are a good choice. There’s a range of terms to choose from and interest rates are competitive.
However, if you’re looking for a more flexible savings account that lets you deposit money on a regular basis and withdraw your cash if you need it, you’ll need to look elsewhere.
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A cash ISA is a savings account where you never pay tax on the interest. Use our comparison table to find the best ISA rates – whether you want to lock cash in for a set time or keep it easy access.