You can open an eSavings account online in moments with just £1 and enjoy easy access through Internet Banking

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Reasons to choose eSavings 

  • Earn a variable rate of 0.55% Gross/AER variable on balances of £1 or more

  • Includes a fixed introductory bonus of 0.25% for the first 12 months

  • After 12 months the variable interest rate without bonus will apply, this is currently 0.30% Gross/AER variable

  • Interest is paid annually on anniversary of account opening

  • Instant transfers between your eSavings Account and TSB current account

Summary box

Account name


What is the interest rate?


Interest rate with bonus 
(includes a fixed bonus of 0.25% for the first 12 months)

0.55% Gross/AER (variable)

Interest rate without bonus (applicable after 12 months)

0.30% 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 12 & 24 months 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:

Initial deposit


Year 1


Interest earned at 0.55% Gross/AER (variable)(includes a bonus of 0.25% for the first 12 months)


Estimated balance after 12 months


Year 2

Interest earned at 0.30% 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?


Ways to open

  • Online
  • Mobile app

Who can open

You must be:

  • 16 or over; and
  • A UK resident
  • A TSB current account holder

Manage your account

  • Online
  • Mobile app
  • Over the phone
Can I withdraw money?

Withdrawals allowed

Yes, instant access

Withdrawal charges

No withdrawal penalties apply

How to withdraw

Transfer to a TSB current or savings account held in your name

Additional 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 01/09/2018  

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

Apply online today

It only takes a few minutes. 
You need to have a TSB current account to apply 

How to apply

It only takes a few minutes. You need to have a TSB current account to apply

Financial Services Compensation Scheme

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Bank over the phone 24/7 using our automated service - call 03459 758 758.

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