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 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 2 months’ notice.
If you earn more interest than the Personal Savings Allowance, you may have to pay extra tax yourself
The Personal Savings Allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Additional rate taxpayers don’t receive a Personal Savings Allowance
AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time
Gross rate means that credit interest is paid without income tax being deducted
UK-based businesses only
Rates and information correct at 07/02/2021
Financial Services Compensation Scheme
We're covered by the Financial Services Compensation Scheme (FSCS). This means that any money you hold in a TSB account is protected up to a limit of £85,000.
*Gross rate is the contractual rate of interest payable before income tax is taken off. AER stands for Annual Equivalent Rate, which shows what the interest rate would be if interest was paid and compounded once each year. Offer available for new and existing Business Current Account customers.
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