Comment from Retail Director LHV Bank, Kris Brewster on the deposit protection limit rise to £120,000

01 December 2025

LHV Bank welcomes the Prudential Regulatory Authority’s (PRA) decision to increase the deposit protection limit on savings from £85,000 to £120,000 from 1 December. This is higher than the earlier proposal of £110,000 and brings the level in line with current conditions, updating a figure first set in 2017.

Retail Director of LHV Bank, Kris Brewster, said:

“This move will boost both consumer confidence in saving and the banking industry at large. The uplift ensures that savings from 1p to £120,000 for an individual, or £220,000 for joint accounts would be protected if a bank, building society or credit union were to fail.

“This should give consumers the confidence to save more and seek out the best returns for their current and savings account cash.

“At LHV Bank we offer customers fair value on their money and continue to offer interest on current and savings accounts that reward active choices and good money habits.”