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Saving for a wedding

Prepare for your big day no matter how grand your plans with a savings account that suits you.

How can a savings account help you save for a wedding?

  • Stick to your wedding budget
    A separate account helps protect your wedding fund. Whether you're setting aside a lump sum or saving little and often, you can keep your plans on track.
  • Watch your wedding savings go further
    Make your savings work harder with interest that boosts your balance over time, helping you prepare for any hidden costs.
  • Save for the big day, your way
    Choose between a variety of savings accounts that offer flexibility or fixed terms depending on your timeline.

Compare our savings accounts

Fixed Rate Cash ISA

If you're planning ahead, lock in a guaranteed rate for the term and grow your wedding fund tax-free. Interest is paid annually.

Annual interest Gross/AER 3.95% for 12 months This is a fixed rate for the 12 month term.
Fixed Rate Cash ISA
  • Withdrawals
    None
  • Number of deposits
    Unlimited within 30 days up to £20,000 for the current tax year across all your ISAs
  • Minimum deposit
    £1
Fixed Rate Cash ISA

Internet Saver

Earn annual interest on your savings with the freedom of instant access for any last-minute wedding costs.

Annual interest Gross/AER 4.20% (variable) This rate includes a guaranteed fixed bonus rate of 3.15% for the first 12 months (on balances up to £1m), plus our standard variable rate which is currently 1.05%. After 12 months, you’ll continue to receive our standard variable rate.
Internet Saver
  • Withdrawals

    Unlimited
  • Number of deposits
    Unlimited (fixed bonus applies on balances up to £1m only)
  • Minimum deposit
    £1
Internet Saver

Fixed Rate Saver

Lock your money away for a term you choose and receive your interest monthly or annually, helpful if you're saving for your big day in advance.

Annual interest Gross/AER 4.21% - 4.05% Choose one of our terms between 1 and 5 years. The interest rate will depend on the term and monthly interest rates may differ.
Fixed Rate Saver
  • Withdrawals: None Withdrawals
    None
  • Number of deposits:
Unlimited within first 30 days Number of deposits
    Unlimited within first 30 days
  • Minimum deposit:
£2,000 Minimum deposit
    £2,000
Fixed Rate Saver

Instant Access Cash ISA

Save tax-free for your wedding with the flexibility to dip in when needed and receive your interest annually.

Annual interest Gross/AER 4.08% (variable) This rate includes a guaranteed fixed bonus rate of 3.03% for the first 12 months, plus our standard variable rate which is currently 1.05%. After 12 months, you’ll continue to receive our standard variable rate.
Instant Access Cash ISA
  • Withdrawals
    Unlimited
  • Number of deposits
    Unlimited up to £20,000 for the current tax year across all your ISAs
  • Minimum deposit
    £1
Instant Access Cash ISA
See other savings accounts

Why save with Tesco Bank?

Save with us, bank with anyone

Unlike some other banks, you don’t need to have an existing account with us.

Easily manage your money

Our Mobile App and Online Banking will help you manage your savings, or our friendly call centre colleagues are here if you need help.

Your money is FSCS protected

Your funds are protected up to a total of £85,000 per person by the Financial Services Compensation Scheme.

Useful terms and FAQs

Start by working out how much you think your wedding might cost, the average cost in the UK is around £23,250 according to hitched.co.uk, but it all depends on your plans. Once you have a target in mind, you can set a monthly savings goal that fits both your timeline and budget.

A few practical ways to stay on track could be:

  • Open a savings account dedicated to your wedding consider a joint account that’s separate from your everyday spending making it easier to track your progress.
  • Set up a standing order making automatic deposits each month means you’re less likely to spend the money you have allocated for saving elsewhere.
  • Look for accounts with competitive interest rates - a better rate can help you grow your savings faster over time.
  • Review your spending - cutting back on non-essentials, even temporarily, could free up extra funds to put towards your big day.

The sooner you start, the more time you have to build your wedding fund, giving you more flexibility when it comes to planning your celebration. If you’re still not sure where to begin, our budgeting guides can help you get started.

In the UK, the average wedding costs around £23,250 according to, hitched.co.uk, but could be more depending on your personal choices. There are a few main factors that may influence the final cost:

  • Location
  • Number of guests
  • Venue type

Other details such as wedding attire, catering, flowers and entertainment will also contribute to your total. Not to mention, less obvious costs like giving notice to marry, beauty trials or fittings and postage for invitations.

What matters most is setting a budget that works for your financial situation and priorities. Planning ahead could help you stay in control and reduce the risk of unexpected costs veering you off track.

This depends on a few things, most importantly, how much you’re planning to spend and how much you can afford to save each month.

For example, if your wedding budget is £20,000 and you’re able to save around £500 a month, it could take just over three years to reach your goal. A combined effort between you and your partner could help speed this up.

You may also want to think about:

  • When you’re planning on having your wedding, soon or in a few years’ time
  • Any savings you already have
  • Whether family contributions will help cover costs

Remember, taking advantage of high-interest rate savings accounts or regular saver accounts could help you make the most of your money and make your goal more achievable.

Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year. For our Fixed Rate Saver, interest is paid directly into a separate account of your choice and is therefore not compounded.

Gross is the interest rate paid before tax is deducted.

When you earn interest from a savings account that isn’t an ISA, it will count towards your Personal Savings Allowance.

This doesn’t mean you’ll pay income tax on the interest you earn (most people can earn some interest from their savings without paying tax, source: HMRC “Tax on Savings Interest” 16/09/2024) but it could if the amount of interest you earn goes beyond your Personal Savings Allowance.

The Personal Savings Allowance depends on what rate of income tax you pay:

  • Basic-rate (20%) taxpayers: can earn £1,000 in savings interest per year with no tax.
  • Higher-rate (40%) taxpayers: can earn £500 in savings interest per year with no tax.
  • Additional-rate (45%) taxpayers: £0 – they do not get an allowance.
  • If you're a non-taxpayer – that is you have less than £12,570 income per year, you may be able to earn as much as £18,570 in savings interest tax-free.

If you’ve been saving in an ISA, the interest you earn won’t contribute to your Personal Savings Allowance. You can learn more about how ISAs work.

Tesco Bank won’t deduct tax from the interest you earn. The tax rules set by HM Revenue & Customs are subject to change, and the value of tax benefits depends on your individual circumstances.

Is my wedding fund safe in a savings account?

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.

Depositor Protection (FSCS) Information Sheet (113KB, pdf)
Read more about how your money is protected