Reliance Bank

Reliance Bank

0.35
%
AER
35 day | GBP
  • FSCS protects deposits up to £85,000 per person

All offers from Reliance Bank

0.35 % AER variable
35 day
fscs.org.uk
2.45 % AER variable
90 day
fscs.org.uk

About Reliance Bank

Helping good people do great things with money – Reliance Bank has been at the forefront of social impact banking since 1890, when they were formed by William Booth, the founder of The Salvation Army. Over the years they have worked with social impact businesses of all shapes and sizes and put compassionate customer service at the heart of what they do.

Reliance Bank prioritises business lending to organisations delivering positive social impact in the UK. Reliance Bank is proud of its shareholder, The Salvation Army International, which helps people whose lives have been affected by emergencies, disasters, poverty and social inequality. Reliance Bank has supported businesses and charities for over 130 years and offers residential mortgages, deposit products for personal and business customers and business bank accounts and lending. By banking with Reliance Bank, you’ll be joining a group of like-minded people that are passionate about delivering positive social impact in the UK.

The Financial Services Compensation Scheme protects deposits made into savings accounts offered by Reliance Bank Plc via our marketplace up to £85,000 per person, per banking group.

Bank details

Headquarters: UK
Year established: 1890

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

Who is Raisin?

We are the UK savings marketplace for Raisin DS, one of Europe’s most successful technology-led financial services companies. We want to get Britain saving, so we connect savers with a range of banks and building societies offering deposit-protected savings accounts with competitive interest rates.

Using our savings marketplace is simple. By registering for a Raisin UK Account, you'll only ever need to fill in one application form. Then you can browse, apply for and fund a range of savings accounts, and manage everything under one roof. No paperwork or endless passwords to remember - just a free, easy way to grow your savings.