Gatehouse Bank supports savers by increasing fixed term savings rates

Gatehouse Bank has provided a boost to savers by increasing expected profit rates on its award winning fixed-term Woodland Saver accounts.

Whilst the increase applies across the range, the bank’s 1 Year and 5 Year Woodland Saver accounts have seen the biggest improvements, rising by 0.15 percentage points to 1.46% and 2.20% respectively.

The increases for the 18 Month, 4 Year and 5 Year Fixed Term Woodland Saver accounts are expected to take the products to the top of the best buy tables.

Fixed Term Woodland Saver accounts rate changes


Old rate

New rate

1 Year Fixed Term Woodland Saver



18 Month Fixed Term Woodland Saver



2 Year Fixed Term Woodland Saver



3 Year Fixed Term Woodland Saver



4 Year Fixed Term Woodland Saver



5 Year Fixed Term Woodland Saver



All of Gatehouse’s fixed-term and cash ISA accounts are known as Woodland Savers because a tree is planted for each one opened.

Since their launch just over a year ago, 12,800 trees have been planted at four woodland locations around Britain with the carbon credits registered on behalf of customers.

All Gatehouse Bank savings accounts are covered by the Financial Services Compensation Scheme and require an initial deposit of £1,000. As the Bank is Shariah-compliant, deposits are not used to support sectors such as alcohol, gambling, tobacco, adult entertainment, and the arms industry. It also means its products have an Expected Profit Rate instead of an interest rate.

Click here for the full Fixed Term rates and Cash ISA rates.

Ravi Kumar, Senior Product Manager at Gatehouse Bank, said:

“We are committed to supporting savers by increasing rates on our fixed-term Woodland Saver accounts to offer even better returns to assist customers with their savings goals.

“Since the launch of our Woodland Savers, we have planted over 12,800 trees across the UK. We’re pleased to be able to support the environment while offering such competitive rates.”