FSCS limit to increase from 1 December 2025

This is the first time the FSCS limit has been raised since 2017. The PRA originally proposed to set the new limit at £110,000 but increased it after consulting on the plans.

There has also been an increase in the limit applicable to certain temporary high balance claims. This limit is used for qualifying life events like buying or selling a house and payouts from insurance policies. This limit increase from £1 million to £1.4 million will also come into effect on 1 December 2025.

Sam Woods, Deputy Governor for Prudential Regulation at the Bank of England and CEO of the PRA, said:

“This change will help maintain the public’s confidence in the safety of their money. It means that depositors will be protected up to £120,000 should their bank, building society or credit union fail. Public confidence supports the strength of our financial system.”

Martyn Beauchamp, CEO of the FSCS, said:

“We welcome today’s [18 November 2025] announcement from the Prudential Regulation Authority (PRA) confirming that the FSCS deposit protection limit will increase. This rise ensures that consumers can feel confident their money is safe, from the very first penny up to £120,000. At FSCS, we know that trust in financial services is vital for stability and growth. This enhanced protection will reassure consumers and support confidence in the UK’s financial system.”

Kingdom Bank response

Paul Houghton, CEO of Kingdom Bank, comments:

“We’re delighted the PRA has confirmed its increase to the FSCS protection limit, particularly the increase on the proposed protection from £110,000 to £120,000. The scheme gives our customers the ability to put their savings to work for the gospel with confidence that they are protected. This enhanced protection enables individuals and organisations to use more of their savings to support vital ministries across the country.”

Kingdom Bank customers welcome the increased protection

The increase in the FSCS protection limit has been welcomed by Kingdom Bank customers who recognise the opportunity to put more of their money towards ministry and mission, without compromising on the safety of these savings.

One Kingdom Bank savings customer shared these thoughts:

“Kingdom Bank aligns with Christian values of importance to me. It is also great to know that with the FSCS limit being increased there is further opportunity to add more support to gospel related work while being assured of fund protection – to make even more difference supporting churches, Christian charities, and various ministries.”

Next steps

1. Review your current savings with us. If you already save with us, could this change in protection enable you to save more to benefit ministries across the country?

2. Open a Kingdom Bank savings account. Could this raised FSCS limit enable you to save with us? Your deposits create more bases for gospel work across the UK.