Help for existing savings account customers

Any interest earned on Tesco Bank savings accounts is shown in your statements, transaction history and in your annual Certificate of Interest. You can view, print and download your statements and certificate in your document store, found in our online banking section.

Following the Government’s introduction of the Personal Savings Allowance, we will no longer deduct tax from your interest earned.

The current tax rules are subject to changes by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.

We'll always keep you up to date with any changes to your interest rate by either writing to you or emailing, so it's important to keep your information up to date.

We'll always keep you up to date with any changes to your interest rate by either writing to you or emailing, so it's important to keep your information up to date.

The new tax year began on 6 April 2023, which means new ISA subscription limits are available. You can make the most of your new tax-free allowance now.

The current rules for ISAs are subject to change by HM Revenue & Customs and the value of tax benefits depends on individual circumstances.

If you want to move your money from another eligible type of ISA with another provider to your Tesco Bank Cash ISA, you can do this via the ISA transfer process. This transfer process is offered by Tesco Bank and most other providers and will ensure your money remains tax free.

You can subscribe to more than one type of ISA (for example; one Cash and one Stocks and Shares); however, you can’t hold more than one ISA of the same type within the same tax year.

If you have a Tesco Bank Fixed Rate Cash ISA you can only make transfers to it within 30 days of opening.

Other providers may have restrictions or charge a fee on transfers, so you should always check this with them before transferring money to or from another provider.

You can subscribe to more than one type of ISA (for example; one Cash and one Stocks and Shares); however, you can’t hold more than one ISA of the same type within the same tax year.

If you would like to transfer your money to another ISA provider, you will need to ask the new provider and they will arrange everything with us.

Other providers may have restrictions on transfers, so you should always check this with them before transferring money to another provider.

If you would like to transfer your Tesco Bank Fixed Rate Cash ISA to another ISA before the end of your fixed rate term, we will charge a fee equal to 90 days interest on the balance of your account.

If your account has matured, we will not charge you a fee for making a transfer.

To check the current rate of interest on your Cash ISA, either:

Please note, you will need to have registered for online banking or have security in place for telephone banking. If you haven’t arranged this, our advisors will be happy to help guide you through the process.

When your Fixed Rate Saver is due to reach the end of its term, we’ll write to you beforehand to remind you, and again when your account matures.

You will have the option to re-invest your balance into a new Fixed Rate Saver, switch to one of our savings accounts or withdraw your funds. To find out what products we have available, or to exercise any of your options, please call us on 0345 678 5678*.

If we do not hear from you ahead of your fixed rate maturing, your matured funds will remain in the account and revert to a post maturity interest rate until you move them to another account.

*This number may be included as part of any inclusive call minutes provided by your phone operator.

To check the current rate of interest on your Fixed Rate Saver, either:

Please note, you will need to have registered for online banking or have security in place for telephone banking. If you haven’t arranged this, our advisers will be happy to help guide you through the process.