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 0.10% Gross/AER (variable)
    • 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 Savings Account

    Annual interest rates 0.10% Gross/AER (variable)

    Instant Access Cash ISA

    Interest rate 0.10% Gross/AER (variable)
    • Save up to £20,000 tax-free (2020/21 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 All you have to do is replace the money in the same tax year it was withdrawn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 Her Majesty’s Revenue and Customs, 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.

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          Important information

          Interest rates and definitions

          Internet Saver rates

          Internet Saver rates

          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.

              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)

                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.

                    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.

                      Daily withdrawal limits

                      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: You can withdraw all of your money over the phone
                        • 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
                        • In-store (Customer Service Desk): £500
                        • ATM: £300

                        The in-store withdrawal service is available in selected Tesco stores only.

                          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.