1 Year Fixed Term Community Saver
4.15% AER

What is the product?

This is a 1 Year Fixed Term Community Saver account, operated under Shariah principles. This means that interest cannot be earned, but we generate profit instead.

What does this mean for my money?

The profit we share is the expected profit rate at the time you open your account. We monitor your account on a daily basis to ensure the expected profit rate will be achieved. If we believe the expected profit rate will not be achieved, we will contact you giving you notice of the new expected profit rate. You will then have the option to continue your account with us at the new rate, or close your account immediately with your original deposit returned, along with profit earned. To date, we have always generated and paid our customers the expected profit rate.

Our Community Saver Account

By opening a 1 year Fixed Term Community Saver you’re helping support young people who are experiencing or at risk of homelessness through our partnership with Depaul UK, giving them a safe place to stay and the opportunity of a brighter future.

For every account opened, we donate the equivalent of 0.1% of account balances to Depaul UK, so your savings don’t just grow, they also help create a safer future for others.

Summary Box

Account name

1 Year Fixed Term Community Saver

Expected Profit Rate (EPR)

4.15% AER / Gross p.a. - Annual Profit
4.15% AER / 4.07% Gross p.a. - Monthly Profit

Estimated balance at the end of the term based on a £1,000 deposit

£1,041.50

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 being paid annually

How do I open and manage my account?

New customers can open an account online using the ‘New Customers - Apply Now’ button.

Existing customers should simply log in to your account and go to 'Open New Account'.

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 and by using our Savings App. Profit is paid on maturity, or monthly to your nominated account.

Minimum deposit - £1,000
Maximum deposit - £1,000,000

How do I fund my account?

You can fund your account via bank transfer or cheque, only from your nominated account. Please ensure you fund your account within 30 days of application. If we have not received your deposit amount as cleared funds within 30 days, the account will be closed, and you will need to reapply.

Can I withdraw money?

You are not allowed to withdraw funds from your account before the maturity date other than in exceptional circumstances as set out in our Savings Terms and Conditions.

Your account will mature at the end of the fixed term. We will contact you before the maturity date allowing you to choose to reinvest or withdraw your funds on maturity. If we do not receive maturity instructions by the maturity date, we will transfer your money into an Easy Access account.

Additional Information

Depaul UK is a national homelessness charity with a focus on young people. On a mission to end homelessness and change the lives of those affected by it, Depaul UK offers safe and supported accommodation, homelessness prevention initiatives, and programmes of support. As of 2025, they have supported over 11,000 young people across their services, helping them access a safe place to stay and the support they need to thrive.

By opening a Community Saver account, your money can help make a positive impact, without requiring any extra effort on your part. We will make an annual donation equivalent to 0.10% of the total customer balances held, meaning your savings don’t just grow for you, they help give young people a brighter future.

Download this information

How to apply

Existing savings customers

Existing Customers - Log in to Apply

New savings customers

Open an account online using the 'Apply Now' button below.

New Customers - Apply Now

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:

Within UK: 0345 600 3350 (Mon-Fri, 9am-5pm)
Outside UK: +44 191 622 1183 (Mon-Fri, 9am-5pm UK time)

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.

Keeping your money safe

Your eligible deposits held by Gatehouse Bank are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please call us on 0345 600 3350 or click here to access our FSCS Information Sheet.

For information from the FSCS, please refer to the FSCS Website or call the FSCS on 0800 678 1100. Click here to access the guide for how the FSCS protects your money.

Please note only compensation related queries should be directed to the FSCS.