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.
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.
Tax free savings
Savings options with great fixed rates
Compare our savings accounts
All Balances |
Gross/AER* |
---|---|
Standard Interest Rate (variable) |
0.10% |
Rates correct at 11 August 2020.
*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.
Our current interest rates are shown below. You can choose to have this paid monthly or annually.
All balances |
Annual interest Gross/AER* |
Monthly interest Gross/AER* |
---|---|---|
Standard Interest Rate (variable) |
0.10% |
0.10% |
Rates correct at 11 August 2020.
*The Personal Savings Allowance was introduced on 6 April 2016, meaning we won’t deduct tax from the interest you have earned.
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.
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.
The maximum daily withdrawal limits for Instant Access Savings Accounts are as follows:
The in-store withdrawal service is available in selected Tesco stores only.
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.
Have a question or need help applying? Our friendly, UK-based customer service team is here to help.