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 0.24% Gross/AER variable on balances of £1 or more

  • Includes a fixed introductory bonus of 0.09% 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


From 1st July the interest rate will be 0.10% Gross/AER variable including a fixed bonus of 0.09% Gross/AER.

Summary box

Account name


What is the interest rate?
  Interest rate with bonus (includes a fixed bonus of 0.09% for first 12 months) Interest rate without bonus (applicable after 12 months)
Current interest rates 0.24% Gross/AER (variable) 0.15% Gross/AER (variable)
Interest rates effective from 1 July 2020 0.10% 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 £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
Current interest rates Year 1 Interest earned at 0.24% Gross/AER (variable) (includes a bonus of 0.09% for the first 12 months) £2.40
Estimated balance after 12 months £1,002.40
Year 2 Interest earned at 0.15% Gross/AER (variable) £1.50
Estimated balance after 24 months £1,003.90
Interest rates effective from 1 July 2020 Year 1 Interest earned at 0.10% Gross/AER (variable) (includes a bonus of 0.09% for the first 12 months) £1.00
Estimated balance after 12 months £1,001.00
Year 2 Interest earned at 0.01% Gross/AER (variable) £0.10
Estimated balance after 24 months £1,001.10
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 24/03/2020  

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.


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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