Interest rate with bonus (includes a fixed bonus of 0.01% for first 12 months)
Interest rate without bonus (applicable after 12 months)
0.02% Gross/AER (variable)
0.01% Gross/AER (variable)
Interest is calculated each day and paid once a year on the anniversary of opening the account
Can TSB change the interest rate?
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 2 months’ notice.
What would the estimated balance be after the fixed term based on a £1,000 deposit?
Based on a £1,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same:
Interest earned at 0.02% Gross/AER (variable) (includes a bonus of 0.01% for the first 12 months)
Estimated balance after 12 months
Interest earned at 0.01% Gross/AER (variable)
Estimated balance after 24 months
This is an example only and doesn’t take into account your individual circumstances.
How do I open and manage my account?
You must be:
16 or over; and
A UK resident
Over the phone
You can ask us for an ATM card to make deposits and withdrawals to or from your account.
Can I withdraw money?
Yes, instant access
No withdrawal penalties apply
Transfer to a TSB current or savings account
(Service charges may apply, see our Banking Charges guide for more information)
Accounts can be held in sole or joint names
Interest is paid gross (without taking off tax)
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
Account can be closed at any time without charge
Rates and information correct as at 01/07/2020
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.
As an Easy Saver Account holder you can take advantage of the many TSB services that we have on offer to help you get the most from your money.
Save the Pennies - You can nominate your Easy Saver account for Save the Pennies and every time you make a purchase with your TSB Visa debit card, the amount you spend will be rounded up to the nearest pound. We'll then transfer the difference into your nominated TSB savings account the next working day.
Set up a standing order - saving regularly from your current account is the easy way to grow your savings.
Rename your account to suit you, such as holiday, rainy day or simply savings. All you need to do is click on your Easy Saver account in Internet Banking and change nickname. The name you choose will only appear in Internet Banking and not appear on your statements.
Transfer money instantly between your Easy Saver and TSB current account.
Turn off paper statements. Quickly find what you are looking for - search your statements instantly. Cut down on paperwork by stopping your postal statements.
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.
Apply online today
If you're registered for Internet Banking you can open a new account in a few minutes.