21 February 2019

TSB introduces one of the best savings rates on the high street by increasing its two-year fixed rate ISA to 1.70%

  • Almost 50% of Brits have a savings goal for 2019 and almost eight out of ten want to save more this year than last year. 
  • Almost nine out of ten Brits still see value in putting money away into a savings account and over half of Brits save into an ISA account.

From today, TSB has increased the interest rate for its two-year Fixed Rate ISA to 1.70% interest making this one of the best cash ISA savings rates on the high street. 

This new rate is available to new and existing customers who open a two-year rate fixed rate ISA. The account can be opened in branch and allows customers to use their £20,000 annual ISA allowance and transfers in from other ISA accounts.   

This new rate comes at a time when new research1 from TSB reveals that almost 50% of respondents have a savings goal for 2019 and 80% think that saving for their future is important.  

The continuation of a low interest rate environment has meant that over half of respondents feel they haven’t been incentivised to save but almost nine out of ten of savers still see value in putting money away into a savings account with over half of respondent’s saving into an ISA account. 

TSB is committed to helping people save better whether that’s for a particular milestone in life e.g. a wedding, a new house or generally saving for whatever life brings.    

Paul Izon, Head of Savings at TSB says: 
“As we enter 2019, we know that lots of people will be focused on getting their finances in shape for the year ahead.  

“For many people, savings are now more important than ever and ISA’s are still a great way to achieving any savings goal. 

“For a long time, people haven’t seen an increase in interest rates, so this is a great way to help people save more and help build on their savings portfolio for the future.”

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The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. ‚Äč

Notes to editors

  • 1Research was conducted in February 2019 by OnePoll surveying 2,000 UK adults.  

  • More information on our products can be found at www.tsb.co.uk.

  • More information on the two-year Fixed Rate ISA product, including terms and conditions can be found here.