What is the product?

This is an Easy Access Account, operated under Shariah principles. This means that interest cannot be earned, but we generate profit instead. You have access to your online account 24/7 and can easily withdraw all or part of your funds to your nominated account.

Key product information

Account name

Easy Access Account

Expected Profit Rate (EPR)

1.30% Gross/AER

Can Gatehouse Bank change the expected profit rate?

Yes, the expected profit rate is variable. We can increase or decrease the rate as set out in our Savings Terms and Conditions.

We will provide you with 30 days' notice of any reduction to the expected profit rate applicable to your account.

Estimated balance after 1 year based on a £1,000 deposit

£1,013.00

Please note: This projection is provided for illustrative purposes only and does not take into account customer's individual circumstances. This projection is based on:

- an initial £1,000 deposit
- no further deposits or withdrawals are made
- profit is paid away to your nominated account annually

How do I open and manage my account?

You can open your account online using the ‘apply now’ button. To apply for an account you must be at least 18 years old, a UK resident (or resident in the UK for tax purposes) and you will require your bank account details along with your mobile phone number. Once opened, you can manage your account online 24/7. Profit is paid to your nominated account.

Minimum initial deposit is £1,000
Maximum balance for this account is £250,000

Additional deposits are permitted at any time.

The minimum additional deposit is £1

Can I withdraw money?

Your Easy Access Account is an instant access savings account. You can withdraw all or part of your funds to your nominated account.

Additional Information

Profit will be paid gross of UK income tax. This means that we will not deduct any income tax from the profit payments you receive on your Gatehouse Bank deposit.

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Savings customer support & contact information

Support is available by telephone and online, by logging into your account.

Postal address:

Gatehouse Bank, PO Box 861, Wallsend, NE28 5BP

Telephone:

0345 600 3350

Email:

info@gatehousebanksavings.com

Making a complaint

If you are unhappy with any aspect of our service and want to make a complaint, please contact us in the first instance and we will try to resolve the complaint as fast and fairly as possible. A copy of our complaints policy is available on our website.

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Financial Services Compensation Scheme (FSCS)

Your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme. The FSCS can pay compensation if a bank is unable to meet its financial obligations. Each account holder is entitled to claim up to the current FSCS limit in respect of the total value of all accounts you hold with us. Currently, this is up to £85,000 per person and £170,000 for joint accounts. Any deposits you hold above these limits are not covered. Please visit www.fscs.org.uk for further information.

FSCS Protected