Savings Interest Rates, Switch Offers and Guides for Charter Savings Bank

Who they are

Charter Savings Bank launched in March 2015, after its parent company obtained a banking licence from the Prudential Regulation Authority - putting it among the first new banks to be granted one since the 2008 financial crisis. Today it is part of OSB Group, a specialist lender and savings provider. The proposition has always been deliberately narrow: online and postal savings accounts, Cash ISAs and bonds - no current account, no packaged product, no extras. It has received multiple awards for its proposition, including ISA Provider of the Year, Best Fixed Rate Savings Provider and awards for customer service.

Savings accounts

Charter offers a range of account types to suit different needs. The Easy Access and Easy Access Cash ISA accounts both open from just £1, with variable rates that are honest and uncomplicated - no bonus rate that falls away after 12 months, and no withdrawal limits to worry about. For savers who can give a little notice, the 60 Day and 95 Day notice accounts require a £5,000 minimum.

Where Charter tends to stand out is fixed-rate bonds. The 1, 2 and 3 Year Fixed Rate Bonds all require a £5,000 minimum and pay no access until maturity - so only commit money you genuinely will not need. Fixed Rate Cash ISAs are available across the same three terms, again from £5,000, with the 2 Year version allowing limited withdrawals and the 3 Year carrying an early exit penalty.

All rates shown on this page are the live figures - check them there, as they move over time.

FSCS protection

Eligible deposits with Charter Savings Bank are protected up to £120,000 by the FSCS - above the standard £85,000 limit, which is worth knowing if you are holding a larger pot. One thing to flag if you also save with Kent Reliance: Charter Savings Bank and Kent Reliance have different firm reference numbers, despite now being part of the same corporate group , so your FSCS limit applies separately to each. Always verify your own position at fscs.org.uk if you hold large sums across both brands.

Is it right for you?

Charter suits savers who want a clean, established online bank without the complexity of a full banking relationship. The fixed-rate bonds are genuinely competitive and the easy access accounts are honest. The notice accounts are a reasonable middle ground if you want a step up from easy access without committing fully. There is no app and no current account, so if you want a full banking relationship or branch access, you will need to look elsewhere.

Use the live rates on this page to see exactly where Charter sits against the rest of the market right now before you apply.