What's the minimum and maximum deposit?
The minimum opening deposit is £250,000 and the maximum deposit is £10 million.
What's my interest rate if my account balance falls below £250,000?
If your balance falls below £250,000, your interest will be 1.00% Gross PA/AER (variable) until the balance meets or exceeds £250,000.
Can Close Brothers Savings change the interest rate?
Yes. This is a managed rate that can be changed at any time.
How do I open and manage my account?
To open an account please complete our enquiry form. To manage your account, simply call or write to us.
Can I withdraw money?
Yes. You may place notice to withdraw funds at any time in writing or over the telephone.
Can I put money in after my first deposit?
Yes. You may place additional funds, ensuring they do not exceed the maximum balance.
Will I pay tax?
Tax benefits depend on individual circumstances and could change in the future.
If you already have a savings account with us, here you can find the interest rate for the current products you hold with us.
Make the most of your business savings with our Fixed Term Deposit. Simply choose how long you want to invest for and enjoy a fixed interest rate.
We're part of leading UK merchant banking group Close Brothers Group plc with over 145 years successful trading experience and have been providing dedicated personal savings accounts to UK residents and businesses since 2008.
A well rated bank with an A2 credit rating from Moody’s Investors Service (correct as at 27 March 2025) and a BBB+ rating from Fitch Ratings Ltd (correct as at 19 February 2025).
We are committed to regularly reviewing our savings products to ensure both new and existing customers are receiving fair and competitive pricing.
Our network of Business Development Managers deliver the highest levels of specialist service across a range of industries.
Your eligible deposits held by a UK establishment of Close Brothers Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
For further information, visit www.fscs.org.uk