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Castle Trust Bank launches its first Fixed Rate e-Saver Account

Castle Trust Bank

I’m delighted that we’ve launched online fixed rate savings accounts to the general public.

Castle Trust Bank has launched its first savings account to the public - a 2 year online Fixed Rate e-Saver Account, with an interest rate of 1.25% AER.

Castle Trust Bank has been providing its existing customers with a safe home for their money for almost a decade, and has now added an online fixed rate savings account to their range, which is also available to new customers. New customers can apply for the 2 year Fixed Rate e-Saver via the bank’s website, whilst existing customers can also apply through their Self Service Portal account, or via the bank’s mobile app available from the Apple App Store and Google Play. New customers are required to open a Self Service Portal account as part of the application process, which provides them with a quick and convenient way to manage their money online.

The bank expects to extend their range of online fixed rate savings accounts, to include ISAs, over the next few months.

Martin Bischoff, CEO at Castle Trust Bank, said: “Since Castle Trust’s conversion to a bank in June 2020, we’ve continued to provide competitive fixed rate savings account options to our existing customers and I’m delighted that we’ve launched online fixed rate savings accounts to the general public. It’s another example of Castle Trust Bank’s ambitious plans for continued growth in the savings, specialist property lending and retail finance markets.”

Media Enquiries:
Jeremy Stevens – Head of Marketing at Castle Trust Bank
Mobile: 07879 334 697

Additional information for Editors:
Castle Trust Bank was launched as 'Castle Trust' in October 2012 with backing from leading US private equity firm J.C. Flowers & Co., initially offering investment products and specialist mortgage finance. J.C. Flowers & Co. continue to be Castle Trust Bank's principal shareholder to this day.

As the business and its reputation grew, we expanded our lending operations with the acquisition of Omni Capital Retail Finance in 2017, adding point of sale finance to our range of services.

In 2018 we were delighted to be invited to pursue an application for a banking licence, and in June 2020 we became Castle Trust Bank – a fully authorised bank. Our customers’ existing fixed term investments were converted to fixed term savings accounts, with fixed term accounts being made available as a maturity reinvestment option straight away. Additional, new savings accounts were made available to existing customers at the end of 2020.

Our administration hub in Basingstoke and our City of London office already serves over 200,000 customers across our savings, specialist mortgage finance and retail finance arms. Our most recent Net Promoter Scores of +28 for our savings operation, and +70 for Omni demonstrate the high level of service we provide to our customers - and our status as a bank now provides an even more solid platform for our plans for growth, and further customer service improvements.

As at 30 September 2020, our customers held just under GBP 650 million of fixed term fixed rate savings with us. Our total property loan book stood at over GBP 450 million, alongside our retail finance loan book of more than GBP 115 million.

The development of our business is supervised by an experienced and prestigious team. Our Chief Executive Officer is Martin Bischoff, and Chairman Richard Pym leads our Board of Directors.