Building on from the Algbra news today, I thought I’d start a thread for Shoal.
Shoal are fintech fixed term savings provider from Standard Chartered. Interest rates look good, and the deposits are used to finance sustainable projects managed by Standard Chartered. Shoal is also b-corp certified, which I think would make it the only savings account in the U.K.
The rates look decent. I love the initiative itself, too. So I’ve joined the waitlist and look forward to being able to use.
Thanks for sharing this on here
Interesting but no instant access and max balance of £10k?
Given the nature of it, instant access wouldn’t make a whole lot of sense. And for me personally, my instant access needs are met in abundance these days from a whole range of providers.
The wording suggests you can have multiple pots, so the 10k limit is more an artificial ceiling than a real one. If you want to put more away, it sounds like you’ll just be able to open another pot and put another 10k into it.