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

Reasons to choose eSavings 

  • Earn a variable rate of 0.02% Gross/AER variable on balances of £1 or more

  • Includes a fixed introductory bonus of 0.01% for the first 12 months

  • After 12 months the variable interest rate without bonus will apply

  • Interest is paid annually on anniversary of account opening

  • Instant transfers between your eSavings Account and TSB current account

  • Manage your Savings account online with our mobile app and Internet Banking

Summary box

Account name


What is the interest rate?
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 Savings Account General 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 14 days in advance. You can close your account without charge within 30 days of the change, 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 and through telephone banking.

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:


Year 1 Interest earned at 0.02% Gross/AER (variable) (includes a bonus of 0.01% for the first 12 months) £0.20
Estimated balance after 12 months £1,000.20
Year 2 Interest earned at 0.01% Gross/AER (variable) £0.10
Estimated balance after 24 months £1,000.30

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
Open with
  • £1 minimum opening balance
  • No maximum limit on the amount that can be held within the account

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 21/03/2021  

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

If you're registered for Internet Banking you can open a new account in a few minutes.

How to apply


Already a TSB Personal Account customer?

Log in and apply

Or, if you're a new TSB customer, you'll first need to open a TSB Personal Current Account

View our Personal Current Accounts

Or alternatively, apply in a branch

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