Internet Saver
Freedom to save, with easy access whenever you need it
Unlimited withdrawals and deposits
4.10% Gross/AER (variable) includes a fixed bonus of 2.95% Gross/AER for 12 months, on balances up to £1m
FSCS protected up to a total of £85,000
Why choose our Internet Saver?
- 4.10% Gross/AER (variable)
This rate includes a guaranteed fixed bonus rate of 2.95% for the first 12 months (on balances up to £1m), plus our standard variable rate which is currently 1.15%. After 12 months, you’ll continue to receive our standard variable rate (all rates are Gross/AER). - Make unlimited withdrawals
Withdraw any amount, as frequently as you need, without any fees. Bear in mind, to protect your account, daily transfer limits are in place - Start saving from as little as £1
Kick start your savings with any amount you choose from £1. - Deposit as much and as often as you like
There’s no restriction to how much you can save in your account. - Save with us, bank with anyone
Unlike some other banks, you don’t need to have an existing account with us. - Manage your money in our Mobile Banking App or Online Banking
Our friendly call centre staff are here too if you want to speak with someone. - Your money is FSCS protected
Your savings are protected up to a total of £85,000 per person across all Barclays and Tesco Bank accounts.
*Rates shown in the Mobile App example are for illustrative purposes only.
Please read the Summary Box before moving on to apply.
A Summary Box sets out the key features of a savings account. It’s designed to help you easily compare between accounts. For full details, please read the account terms and conditions.
Summary Box:
Internet Saver
4.10% Gross/AER* (variable) for the first 12 months. The rate is made up of:
- A fixed bonus rate of 2.95% Gross/ AER which is applied for the first 12 months on balances up to £1million
- And our standard variable rate (which is currently 1.15% Gross/ AER) which this account will continue to earn after the bonus rate has ended
How you receive interest:
- Interest will be earned at a daily rate and paid into the account on the anniversary of the account opening and at account closureInterest will be earned at a daily rate and paid into the account on the anniversary of the account opening and at account closure
- The Bonus Interest Rate applies on balances up to £1 million or less, which we pay to you at the end of the bonus period (on the anniversary of the account opening)The Bonus Interest Rate applies on balances up to £1 million or less, which we pay to you at the end of the bonus period (on the anniversary of the account opening)
- We pay the Standard Interest Rate annually to you in March
*Gross is the interest rate paid before tax is deducted. The Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
- Yes – the Standard Interest Rate is a variable interest rate so we may change it at any time. If we decide to reduce the Standard Interest Rate, we will always contact you in advance, with at least 14 days’ notice, by letter or email (depending on your statement preferences)Yes – the Standard Interest Rate is a variable interest rate so we may change it at any time. If we decide to reduce the Standard Interest Rate, we will always contact you in advance, with at least 14 days’ notice, by letter or email (depending on your statement preferences)
- The reasons which may lead us to reduce the Standard Interest Rate can be found in the “Interest” section of the Terms and Conditions of the account and include, for example, changes in market conditions which affect interest ratesThe reasons which may lead us to reduce the Standard Interest Rate can be found in the “Interest” section of the Terms and Conditions of the account and include, for example, changes in market conditions which affect interest rates
- If we increase the Standard Interest Rate, the new rate can be viewed in Online Banking and we may also contact you to let you knowIf we increase the Standard Interest Rate, the new rate can be viewed in Online Banking and we may also contact you to let you know
- Bonus Interest Rates are always fixed and won’t vary during the Bonus Period. We will write to you in advance to let you know when your current Bonus Period is coming to an endBonus Interest Rates are always fixed and won’t vary during the Bonus Period. We will write to you in advance to let you know when your current Bonus Period is coming to an end
The estimated balance would be £1,041.00 after 12 months (including your bonus interest) and £1,052.97 after 24 months.
Estimated balances are for illustrative purposes only and assume no further deposits, withdrawals or changes to the Standard Interest Rate. Your actual balance may differ depending on the Standard Interest Rates in effect and when your account was opened (Standard Interest is paid in March and Bonus Interest at the end of the bonus period).
You can apply online, and to be eligible you must:
- Be a UK resident
- Be over 18 years of age
- Provide details of a Linked Account in your own name
You can deposit a minimum of £1, you don't need to make a minimum deposit on a regular basis and there is no maximum balance limit.
You can manage your account via Online Banking or on the Mobile App.
If you experience any issues, you can call us on 0345 678 5678*
*This number may be included as part of any inclusive minutes provided by your phone operator.
- Yes, you can withdraw money from your account to a Linked Account in your own name without noticeYes, you can withdraw money from your account to a Linked Account in your own name without notice
- A Linked Account is another account you have told us about and held in your name with another bank in the UK or another internal Tesco Bank account in your own name A Linked Account is another account you have told us about and held in your name with another bank in the UK or another internal Tesco Bank account in your own name
- You can make withdrawals online or over the phone if the amount you wish to transfer is above our online daily limit noted below:You can make withdrawals online or over the phone if the amount you wish to transfer is above our online daily limit noted below:
Daily Limits (maximum you can move out each day subject to your available balance):
- Internal Transfers to other Tesco Bank accounts in your own name using the Mobile App and Online Banking – £100,000Internal Transfers to other Tesco Bank accounts in your own name using the Mobile App and Online Banking – £100,000
- Internal Transfers to other Tesco Bank accounts using a Third Party Provider (TPP) - £10,000Internal Transfers to other Tesco Bank accounts using a Third Party Provider (TPP) - £10,000
- Transfers to other non-Tesco Bank accounts in your own name in the UK using the Mobile App, Online Banking and a TPP – £20,000; with a £10,000 limit for each payment optionTransfers to other non-Tesco Bank accounts in your own name in the UK using the Mobile App, Online Banking and a TPP – £20,000; with a £10,000 limit for each payment option
For transfers above these limits please contact us. For timescales on the above please refer to the “Payments out of your Account” section of your Terms and Conditions.
We won’t deduct tax from your interest – this will be paid gross. If you exceed your Personal Savings Allowance, you may need to pay tax on the interest you earn.
If you still have questions, we've got some useful FAQs below.
Our banking business has now transferred to Barclays
Barclays will continue to use the Tesco Bank brand on all existing Tesco Bank banking products through a long-term strategic partnership with Tesco. If your application is successful, there’ll be no immediate changes to how you use and manage your account on a day-to-day basis.
To find out more and view a range of helpful documents just go to Tesco Bank’s transfer scheme page.
Financial Services Compensation Scheme
- Before the transfer became effective on 1 November 2024,, if you had eligible deposits with both Tesco Bank and Barclays, you were covered up to £85,000 with each bank by the FSCS.Before the transfer became effective on 1 November 2024, if you had eligible deposits with both Tesco Bank and Barclays, you were covered up to £85,000 with each bank by the FSCS.
- Now that we are part of Barclays, any combined eligible deposits held with Tesco Bank and Barclays will be covered by the FSCS up to a limit of £85,000 across all the accounts you hold.Now that we are part of Barclays, any combined eligible deposits held with Tesco Bank and Barclays will be covered by the FSCS up to a limit of £85,000 across all the accounts you hold.
If you’re concerned about the effect of the transfer on your eligible deposits and/or the statutory protection that may be available to you, please call us on 0345 678 5678*
*Calls may be recorded. The costs from mobile phones may vary. If you’re calling from outside the UK, please check with your service provider for the cost of calling this number from overseas.
View or download the account documents
Frequently asked questions
The easiest way to save is with our Pay by Bank feature. You’ll find it in our Mobile Banking App, it lets you pay directly from your bank account into your savings account. Once your account is active, you can use Pay by Bank immediately.
You can also move funds from any other Tesco Bank accounts using our Mobile App or Online Banking.
Alternatively, you can make regular or one-off payments via your bank account. All you’ll need is your Internet Saver sort code and account number. Please note you can only do this 48 hours after account opening.
During the first 12 months your interest rate is made up of a fixed bonus rate and our standard variable rate.
After the 12 month fixed bonus rate ends, you’ll continue to earn the standard variable rate that’s available at the time, currently 1.15% Gross/AER. We’ll always let you know before the bonus rate ends. You can learn more about how bonus rates work in our savings guide.
Protecting your savings
Your eligible deposits held by a UK establishment of Barclays Bank UK PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Business Banking, Barclays Premier Banking, Barclays Wealth Management and Tesco Bank. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please ask for further information or visit www.fscs.org.uk.
Not the right account for you?
Are you an existing customer?
If you're an existing customer and are looking for some help, visit our Existing Customer page.