If you’ve got a TSB current account, you can save from £25 to £250 each month and enjoy instant access with a great fixed rate.
Please note - you need to have a TSB current account to apply for a Monthly Saver
Apply online today It only takes a few minutes. You need to have a TSB current account to apply.
Apply in branch
This calculation is based on accounts opened on the 1st of the month with 12 monthly deposits made on the 25th of the month. The interest you receive will vary based on open date, deposit date and deposit amount. Tax treatment depends on your individual circumstances and may change. Your inputs are rounded to the nearest whole pound and the calculation will reflect this.
Value after 1 year
Interest earned at 2%:
Your interest rate will be 2.00% AER/Gross fixed for 12 months. You will need to make deposits by standing order from £25 up to £250 a month and you’ll have instant access to your account, but you cannot replace money withdrawn. Your interest will be paid at the end of the 12 month term, when your account will convert to a variable Easy Saver Account.
View our Easy Saver interest rates. Please note –
you need to have a TSB current account to apply for a Monthly Saver and we can only open one account per customer.
You’ll earn interest on balances of £1 or more. Interest is calculated each day and paid at the end of the 12 month term.
At the end of the term the account will switch to a variable rate Easy Saver account, where the following rates will apply:
Based on accounts opened on the first of March, with 12 monthly deposits of £250 made on the 25th of the month(which is the maximum you can pay in each month). This example assumes that no withdrawls are made from the account and that variable interest rates on Easy Saver remain the same:
Year 1-Monthly Saver
At the end of the term and the funds are transferred to an Easy Saver account.
Year 2-Easy Saver
To another TSB current or savings account in your name (or in the case of a joint account in any of your names).
Rates and information correct as at 02/02/17.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross rate is the contractual rate of interest payable before the deduction of income tax.
View previous rates
Get more from your Monthly Saver
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 open a Monthly Saver account, you must pay in one standing order of between £25 to £250 each month. The first payment must be made within 30 days of account opening.
You can set up a standing order during the application on the 'You're almost there' page, by selecting 'Set up a Standing Order from a TSB account'. If you leave the page without doing this, you'll need to set up the standing order from a TSB account as an external transfer using the 'Pay a person or company' tab on the 'Set up a Standing Order' page in Online Banking.
It only takes a few minutes. You need to have a TSB current account to apply.
Visit fscs.org.uk to find out more
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