A UK financial institution has unveiled its rebranded identity as This Bank, marking its official launch today. This Bank introduces a variety of savings products, including an easy-access account offering a competitive interest rate of 3.82%, surpassing the average rate in the market. However, there are higher rates available elsewhere, such as Chase’s offering of 4.5% for new clients, featuring a 2.25% variable rate and a 12-month introductory bonus rate.

In addition to the easy-access account, This Bank provides fixed saving accounts ranging from one to five years. The one-year fixed account offers a rate of 3.99%, while other institutions like Marcus offer a higher rate of 4.55% for the same term. Deposits at This Bank range from a minimum of £1 up to a maximum of £500,000, with savings up to £120,000 protected by the Financial Services Compensation Scheme.

This Bank does not offer current accounts and operates without physical branches. CEO Chris Waring emphasized the institution’s commitment to prioritizing customer needs, ensuring direct communication with clients. Waring highlighted the bank’s rapid growth and customer-centric approach, focusing on competitive and sustainable savings solutions. Chief Transformation Officer Declan Halton-Woodward emphasized the human-centered aspect of This Bank, combining technology with a customer-first philosophy.

Established in 2019, JN Bank, now known as This Bank, initially introduced savings products in 2020. With approximately 65,000 customers and deposits totaling around £600 million, the bank aims to provide accessible and customer-oriented financial services. Easy-access, notice, and fixed-rate accounts cater to varying savings preferences, offering flexibility and tax-free interest through Individual Savings Accounts (ISAs).