Cash ISAs allow you to save interest tax-free. Your ISA allowance for the tax year ending 5 April 2018 is £20,000.
Tax-free means the interest rate paid will be free from UK Income Tax. The advantages of which depends on your individual circumstances and the tax treatment of your ISA may change in the future.
Yes. We can move the interest rate up or down at any time. Our Terms and Conditions explain when we'll do this.
If we increase the interest rate, we'll make details of the rate change available in branch, on the phone and on our website, within 3 days of the change. If we decrease the interest rate, we'll let you know personally and give you at least 14 days' notice.
Based on a £1,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same:
You can withdraw and replace money from your cash ISA without it counting towards your annual ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal.
(Service chargees may apply, see our Banking Charges guide for more information)
The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
Rates and information correct as at 04/05/17.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Tax free rate is the contractual rate of interest
payable where interest is exempt from income tax.
View previous rates
Your eligible deposits with TSB are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.
Your deposits with us are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total
of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the
FSCS website or call the FSCS on 020 77 414 100 or 08006 781 100. Please note only compensation related queries should be directed to the FSCS.
Accounts with TSB Bank plc include accounts in all its divisions and under trading name TSB and TSB Business. An eligible depositor's £85,000 limit relates to the combined amount in all accounts with TSB Bank plc.
How FSCS protects your money for further information.
If you're registered for Internet Banking you can open a new account in a few minutes.
Visit your local branch with proof of identity and your address and we'll open the account for you.
If you're not registered for Internet Banking you can still apply online today.
Everything you need to know about ISAs and how to make the most of your annual ISA allowance.
Read our ISA Guide
Visit fscs.org.uk to find out more
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