Flexible Savings Account

Choose instant-access savings to get to your money when you need it. Save in a way that suits you, with regular or one-off payments.

    Internet Saver

    Annual interest rates 4.75% Gross/AER (variable)
    • Fixed rate bonus of 3.50% Gross/AER included for first 12 months on balances up to £1m 4.75% Gross/AER variable, this includes a fixed rate bonus of 3.50% Gross/AER for the first 12 months. After 12 months, the rate will change to the standard variable rate (currently 1.25% Gross/AER)
    • Open your account with just £1
    • Online access to your account 24/7
    • Manage your money on the go with our mobile banking app
    • Earn interest on your savings tax free, up to a certain amount. Learn more about Personal Savings Allowance

    Instant Access Cash ISA

    Interest rate 4.30% Gross/AER (variable)
    • 4.30% Gross/AER variable, this includes a fixed rate bonus of 3.05% Gross/AER for the first 12 months. After 12 months, the rate will change to the standard variable rate (currently 1.25% Gross/AER) 4.30% Gross/AER variable, this includes a fixed rate bonus of 3.05% Gross/AER for the first 12 months. After 12 months, the rate will change to the standard variable rate (currently 1.25% Gross/AER)
    • Save up to £20,000 tax-free (2023/24 tax year)
    • Take money out and replace it later, without it counting towards your annual ISA allowance. All you have to do is replace the money in the same tax year it was withdrawn
    • Start saving from just £1 and add to your account throughout the year
    • Online access to your account 24/7
    • Manage your account online or over the phone

    Personal Savings Allowance

    • Introduced by HMRC, the Personal Savings Allowance will mean 95% of people won’t pay tax on the interest they earn (Source: HMRC 2016).
    • The current tax rules are subject to change by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.

    Benefits of an instant access savings accounts

    • 1
      Top up with regular or one-off payments.
    • 2
      Your money starts earning interest from the moment we receive it.
    • 3
      Get access to your money whenever you need it. Daily withdrawal limits apply

    Financial Services Compensation Scheme

    Your eligible deposits with Tesco Bank are currently protected up to the current Financial Services Compensation Scheme limit, the UK's deposit protection scheme. Any deposits you hold above the current limit are not covered.

          FSCS logo

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          Important information

            Internet Saver rates

            Internet Saver rates

            All balances

            Gross/AER*

            Standard Interest Rate (variable)

              1.25%

                Bonus Interest Rate (fixed, applicable for the first 12 months only and for balances up to £1m)

                  3.50%

                    Total rate for first 12 months (including bonus)

                      4.75%

                        Rates correct at 3 October 2023.

                        The interest rate is made up of our standard variable rate (currently 1.25% Gross/AER) and a fixed bonus rate of 3.50% Gross/AER for the first 12 months only, from the date the account is opened. The bonus rate is available on balances up to £1 million; balances above £1m will receive the standard variable rate, currently 1.25% Gross/AER. After the bonus period of 12 months, the interest rate will revert to the standard variable rate that’s available at the time, currently 1.25% Gross/AER. We will always let you know before the bonus rate ends.

                        *On 6 April 2016, the Government introduced the Personal Savings Allowance. This allows you to earn interest on your savings tax free, up to a certain amount. It means we will no longer deduct tax from the interest you have earned, unless we are required to do so in specific circumstances prescribed by law.

                        Instant Access Savings Account rates

                        Our current interest rates are shown below. You can choose to have this paid monthly or annually.

                        Instant Access Savings Account rates

                        All balances

                        Annual interest Gross/AER*

                        Monthly interest Gross/AER*

                        Standard Interest Rate (variable)

                          1.25%

                            1.25%

                              Rates correct at 15 August 2023.

                              *The Personal Savings Allowance was introduced on 6 April 2016, meaning we won’t deduct tax from the interest you have earned.

                              Instant Access Cash ISA

                              All balances

                              Gross/AER*

                              Standard Interest Rate (variable)

                                1.25%

                                  Bonus Interest Rate (fixed, applicable for the first 12 months only)

                                    3.05%

                                      Total rate for first 12 months (including bonus)

                                        4.30%

                                          The interest rate is made up of our standard variable rate (currently 1.25% Gross/AER) and a fixed bonus rate of 3.05% Gross/AER for the first 12 months only, from the date the account is opened.

                                          After the bonus period of 12 months, the interest rate will revert to the standard variable rate that’s available at the time, currently 1.25% Gross/AER. We will always let you know before the bonus rate ends.

                                          Interest rate definitions

                                          Gross is the interest rate paid before tax is deducted.

                                          Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.

                                            Internet Saver Account

                                            The maximum daily limit for Internet Saver withdrawals is £10,000 to non-Tesco Bank accounts in the UK and £100,000 by making internal transfers to other Tesco Bank accounts in your own name. But if you want to withdraw more, you can call us and we'll be happy to help you.

                                              Instant Access Savings Account

                                              The maximum daily withdrawal limits for Instant Access Savings Accounts are as follows:

                                              • Telephone: £100,000
                                              • Online: £10,000 to non-Tesco Bank accounts in the UK and £100,000 by making internal transfers to other Tesco Bank accounts in your own name
                                              • Most UK cash machines: £300

                                              Instant Access Cash ISA

                                              The maximum daily limit for Instant Access Cash ISA withdrawals is £10,000 via online banking, no restriction by telephone.

                                              Maximum daily withdrawal limits may change from time to time. We will notify you of these changes.

                                                Contact us - we're here to help

                                                Have a question or need help applying? Our friendly, UK-based customer service team is here to help.