What does a change in base rate mean for my savings account?
The Bank of England base rate is one of a number of factors we take into account when reviewing interest rates. Any change in the base rate will form part of ongoing rate reviews across our savings product range.
- Variable rate products may change at any time.
- Fixed rate products are not impacted by a change in the Bank of England base rate.
If we increase your 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 14 days in advance. You can close your account without charge within 30 days, and at any other time. We may not do this if you have £100 or less in your account. Instead, we may tell you about it by making details of the change available in our branches, at tsb.co.uk and through telephone banking.
How can I make the most of my savings?
We know that the current low interest rate environment makes it harder for you to grow your savings.
We can help talk through your options in branch, or you can open accounts and manage your savings online.
My Fixed Rate Bond or Fixed Rate Cash ISA has matured, or is due to shortly, what does this mean for me?
If you had a Fixed Rate Bond or ISA and did not provide maturity instructions, your money will have transferred into either a matured funds account or Cash ISA Saver respectively, which now pays a variable rate of interest.
For up to date rates please pop into your nearest branch or look online tsb.co.uk/savings.
