Gatehouse Bank increases Savings Rates

Gatehouse Bank is today increasing rates on a number of its Cash ISA and Fixed Term saving accounts.

All Gatehouse Bank savings accounts require an initial deposit of £1,000. As the Bank is Shariah compliant, its products have an Expected Profit Rate instead of an interest rate.

Fixed Term Cash ISA rate changes

Product	New Rate	Old Rate
1 Year Fixed Term Cash ISA	1.03%	0.80%
2 Year Fixed Term Cash ISA	1.08%	0.90%
3 Year Fixed Term Cash ISA	1.12%	1.10%

Fixed Term Deposit accounts rate changes

Product	New Rate	Old Rate
1 Year Fixed Term Deposit	1.26%	1.15%
2 Year Fixed Term Deposit	1.36%	1.25%

Gatehouse Bank ensures all deposited savings are managed ethically. The Bank’s Shariah principles ensure deposits are not used to support sectors such as alcohol, gambling, tobacco, adult entertainment, and the arms industry.

Nash Gill, Head of Savings at Gatehouse Bank, commented:

“It has been a challenging time for savers, with rates falling across the market and the Bank of England base rate sitting at just 0.1%. Gatehouse is committed to providing competitive savings accounts over the long term and the increasing rates on our ISA and Fixed Term accounts will move them back towards the top of the best buy tables.”

See all our Savings accounts here.