Based in Wallsend, Gatehouse Bank is a pioneering UK Bank offering Shariah-compliant ethical savings, home finance, buy-to-let finance, commercial property finance and more.
Gatehouse Bank offer a range of fixed term and easy access Cash ISAs to help you make the most of your tax-free savings opportunities. All products allow ‘transfers-in’ from other ISA providers.
1 Year Fixed Term Cash ISA
This is a 1 year Fixed Term Cash ISA, operated under Shariah principles. This means that interest cannot be earned, but a profit generated instead. It has an Expected Profit Rate (EPR) of 0.60% AER. The minimum deposit is £1,000 with a maximum subscription of £20,000.
2 Year Fixed Term Cash ISA
As above, but it takes two years to mature with an EPR of 0.70% AER.
3 Year Fixed Term Cash ISA
As above, but it takes three years to mature with an EPR of 0.80% AER.
5 Year Fixed Term Cash ISA
As above, but it takes five years to mature with an EPR of 0.90% AER.
Easy Access Cash ISA
This product has an EPR of 0.60% AER. Its main benefit is that withdrawals are permitted at any time without penalty.
The company offers a range of Shariah-compliant ethical savings, home finance, buy-to-let finance, commercial property finance and more.
Gatehouse Bank Reviews and Ratings
Online reviews for Gatehouse Bank are fairly average with many customers happy with the friendly, reliable service they have received, as well as the favourable rates compared to other Islamic banks. Others, however, have labelled the company misleading and badly represented by unprofessional intermediaries, with slow administration and lengthy, frustrating onboarding.
Trustpilot – 4.2/5 (based on 124 reviews)
- A large range of fixed and variable interest rate Cash ISAs to choose from
- Shariah-compliant ethical savings
- Quick and easy to set up
- Manage your account online 24/7
- Award-winning: Global Islamic Finance Awards / Moneynet Awards / MoneyComms Awards and more
- Helpful downloadable guides and documents
- Online videos and tutorials
- A clear, easy-to-navigate website
- FSCS protected
- Cash ISAs only
- Lifetime ISAs, Stocks and Shares ISA and other ISA products not offered
- Manly for those interested in Shariah-compliant ethical savings
- Slow administration and lengthy, frustrating onboarding
- Many negative customer reviews
Website: Gatehouse Bank