Chetwood Bank has proudly announced that it has surpassed £4 billion in total customer deposits across the bank’s savings products and flows from distribution partners.

This marks a major milestone in the bank’s rapid growth and continued commitment to savers across the UK.

Chetwood Bank has focused on delivering reliable, competitive savings products to customers across its entire product range, with a goal of establishing itself as a leading challenger bank in the UK.

The £4 billion figure, totalled from Chetwood Bank deposits, deposits to the bank’s SmartSave product and flows from distribution partners, reflects the trust customers have placed in the bank and its no nonsense approach to helping people make the most of their money.

The milestone comes shortly after the launch of Chetwood Bank’s new range of easy access and fixed rate savings products, offering customers more choice and certainty in how they grow their money.

Paul Noble, CEO of Chetwood Bank, said “Reaching £4 billion in deposits shows that our focus on getting the basics right and putting savers first is resonating with people across the country. It’s a clear sign that people value simple, reliable products they can stick with.

“It’s a promising period for us. We’re growing steadily across every arm of the business, with big plans for new and exciting developments. We’re grateful to everyone who has put their trust in us and are excited for them to see what comes next.”

Ben Mitchell, Director of Savings, added: “Getting to this point reflects the strength of the relationships we’re building with our savers. We listen carefully to what customers want and respond with products that meet their needs, providing a frictionless savings experience throughout.”