Close Brothers Savings review

The easy access account pays a variable rate of 3.85%. Variable means the rate can rise and fall with the base rate, so what you earn next month is not guaranteed. There is no fixed term attached to the account.

The minimum deposit is £10,000 to open. That is far above the savings median of €0.17, so this suits savers with a lump sum rather than those building a balance from scratch.

Yes. Deposits are covered by FSCS up to GBP 85,000, and the provider is regulated in the United Kingdom by the Prudential Regulation Authority. The account sits inside the UK deposit protection framework, and the balance is held with Close Brothers Limited.

The access terms allow withdrawals whenever you request them, with the money landing by the close of the next working day. That is short enough for an emergency buffer, though not instant, so it will not cover a same-day expense.

It is an easy access account, the most common type in this ranking at 76.7% of the brands compared. There is no fixed term, and most accounts in the same ranking share the variable rate type.

Support runs on phone, email and help centre. Phone and email are the direct routes, and a help centre handles common account questions. Phone support is the most common channel across the site at 79.5%.

The provider is based in the United Kingdom and operates as Close Brothers Limited. The savings brand has been running since 2008, with the current account range published under the Close Brothers Savings name.

The 3.85% rate sits above the savings median of 3.08% and inside the upper quartile of 4.5%. On this measure the account is competitive, though the £10,000 deposit is the trade-off.