A few things before getting started
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
Easy Access Account
Expected Profit Rate
2.00% AER/Gross p.a. - Annual Profit
2.00% AER / 1.98% Gross p.a. - Monthly Profit
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.
What would be the estimated balance be at the end of 1 year based on a £1,000 deposit?
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 deposit
- no further deposits or withdrawals are made
- profit is paid away annually from the account
How do I manage my account?
You can manage your account online 24/7 and by using our Savings App.
Minimum initial deposit is £1
Maximum balance for this account is £1,000,000
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.
You can elect to have profit paid annually or monthly, either to your savings account, your nominated account or another suitable account in your name. Profit will be paid annually (on the account opening anniversary) or monthly. 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.Download this information
Savings customer support & contact information
Support is available by telephone and online, by logging into your account.
Gatehouse Bank, PO Box 861, Wallsend, NE28 5BP
0345 600 3350 (Mon-Fri, 9am-5pm)
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.
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.