eSavings

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 0.40% 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 0.15% Gross/AER variable
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

What is the interest rate?
Account name	eSavings
	Interest rate with bonus (includes a fixed bonus of 0.25% for first 12 months)	Interest rate without bonus (applicable after 12 months)
	0.40% Gross/AER (variable)	0.15% 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 £3,000 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	£1,000
	Year 1	Interest earned at 0.40% Gross/AER (variable) (includes a bonus of 0.25% for the first 12 months)	£4.00
	Year 1	Estimated balance after 12 months	£1,004.00
	Year 2	Interest earned at 0.15% Gross/AER (variable)	£1.51
	Year 2	Estimated balance after 24 months	£1,005.51
	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 10/09/2019 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.