In a move set to reshape the UK’s savings landscape, specialist lender Shawbrook has teamed up with Hargreaves Lansdown (HL) to launch HL’s first-ever branded savings product, unveiled through the HL Cash ISA. Announced on September 21, 2025, the partnership signals a new era of collaboration between established banks and innovative financial platforms, with the goal of making saving simpler, safer, and more rewarding for millions of Britons.
Shawbrook’s role in this partnership is more than just that of a traditional banking provider. According to the company, its platform capability gives partners like HL the power to diversify their product offerings, automate critical processes, and scale new services quickly. As Paul Went, Managing Director of Retail at Shawbrook, put it, “This launch is a clear example of how Shawbrook works with leading financial platforms, like Hargreaves Lansdown, to turn innovative ideas into live products – quickly. HL customers love and trust the brand and platform, through which they can now also benefit from Shawbrook’s expertise in savings and FSCS protection over their deposits.”
So, what does this new savings product actually offer to HL clients? At its core, the HL branded savings account is designed to be both competitive and secure. Clients’ deposits are held with Shawbrook, ensuring full protection up to £85,000 under the Financial Services Compensation Scheme (FSCS). This means savers can rest easy knowing their money is shielded from the unexpected, a reassurance that’s more important than ever in today’s uncertain economic climate.
But security isn’t the only selling point. The product’s interest rate is set by HL itself, giving the company flexibility to offer rates that are consistently competitive. There’s a guarantee baked in, too: the interest paid will never fall below the Bank of England base rate minus 65 basis points. This mechanism ensures that, even as market rates fluctuate, savers won’t be left behind. Shawbrook provides a fixed funding rate to HL, who then determines the client-facing rate, enabling HL to keep the product attractive for its users.
The savings product is also designed for convenience and flexibility. It remains continuously available on the HL platform, and comes with features like a regular saver option—encouraging clients to make consistent monthly deposits, no matter how small. Mark Hicks, Head of Active Savings at Hargreaves Lansdown, emphasized this blend of innovation and reliability: “Our new branded savings product offers clients a consistently competitive rate, guaranteed never to pay less than base rate –65bp. Partnering with Shawbrook allows us to deliver this proposition with confidence, ensuring our clients benefit from a trusted bank alongside the innovation of our platform.”
This partnership is not just about a single product—it’s part of a broader strategy by Shawbrook to enable fintechs and non-bank financial institutions to innovate at pace, deliver at scale, and expand customer choice through technology-led collaboration. In other words, Shawbrook sees itself as a bridge between traditional banking safety and the agility of modern fintech platforms. “Our technology and flexible infrastructure, combined with specialist market knowledge, enable partners to deliver advanced propositions and brilliant experiences for their customers in both the deposit and lending markets. We’ve built a model designed for collaboration – agile, scalable, and reliable – which is why organisations like HL continue to choose Shawbrook to power their growth,” Went added.
All of this comes at a time when the UK’s savings habits—and overall financial resilience—are under the microscope. According to a Moneyfactscompare article published on September 22, 2025, the country is facing a financial wellbeing crisis, with many households struggling to set aside enough for emergencies. The guidance from experts is clear: ideally, people should aim to have between three and six months’ worth of essential outgoings saved in an emergency fund. Even so, starting small is far better than not saving at all.
Andrew Gall, Head of Savings and Economics at the Building Societies Association, explained, “We know that those who are able to save, even small amounts, have reduced anxiety and are more able to deal with life’s shocks. And for people fortunate to have more substantial savings pots, having savings to draw upon can open up new opportunities.” He went on to highlight the importance of UK Savings Week, which encourages everyone to build better savings habits, regardless of their starting point. “Whether it’s £1 or £100, every pound put into savings helps to build peace of mind, long-term resilience, and better mental wellbeing,” Gall said.
For many, the idea of accumulating thousands of pounds in an emergency fund can feel daunting, especially if they’re starting from scratch. But as Moneyfactscompare notes, regular savings accounts—such as the one offered now by HL and Shawbrook—can help establish a habit of saving by prompting monthly deposits. Some accounts require as little as £1 per month, making it accessible for nearly everyone. The key, experts say, is to assess your budget, see what you can afford to save, and look for opportunities to cut back on spending to boost your savings rate.
Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, weighed in on another crucial strategy: “Some might assume that switching savings accounts isn’t worth the effort, but that is just not true. Not everyone will be rewarded with an attractive savings rate for their loyalty, which is why it’s important to check and switch accounts regularly to fight against the eroding power of inflation.” In fact, 81% of adults surveyed said they could save an extra £10 a month if they needed or wanted to—a small sum that, over time, can make a significant difference to financial resilience.
The HL and Shawbrook partnership directly addresses these concerns. By making a secure, flexible, and consistently competitive savings product available on a trusted platform, they’re lowering the barriers for everyday savers to get started and stick with it. The regular saver feature, FSCS protection, and base-rate-linked interest are all designed with both new and experienced savers in mind.
Ultimately, the collaboration between Shawbrook and Hargreaves Lansdown is a timely response to the UK’s pressing need for better savings solutions. It’s a model that could well inspire other financial institutions to follow suit—combining the reliability of established banks with the innovation of fintech to help more people build the financial resilience they need for whatever comes next.
