Cash ISA Saver

Cash ISAs allow you to save interest tax-free. Your ISA allowance for the tax year ending 5 April 2022 is £20,000.

Tax-free means the interest rate paid will be free from UK Income Tax. The advantages of which depends on your individual circumstances and the tax treatment of your ISA may change in the future.


  • Instant access to your money
  • Make withdrawals from as little as £1 at a time and replace it later in the same tax year, without losing any of your tax-free entitlement. No withdrawal charge.
  • Pay money in as often as you like (up to the yearly allowance)
  • Receive favourable tax treatment for ISAs depending on your individual circumstances
  • Interest rate includes a fixed bonus for 12 months from account opening
  • Manage your Savings account online with our mobile app and Internet Banking

Summary box

Account name

Cash ISA Saver

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% Tax-free/AER (variable) 0.01% Tax-free/AER (variable)
Interest is calculated each day and paid once a year on 31 March.
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 12 and 24 months? 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 0.02% Tax-free/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% Tax-free/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?


  • In branch
  • Online

You must be:

  • 16 or over; and
  • A UK resident
  • £1 minimum opening balance
  • Maximum subject to the annual ISA allowance (£20,000 for 2021/22), plus transfers in from other existing ISAs
  • No maximum limit on the amount that can be held within the account
  • In branch
  • Over the phone
  • Online
  • Mobile app

Can I withdraw money?

Withdrawals allowed

You can withdraw and replace money from your Cash ISA Saver without it counting towards your yearly ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal.

Notice period


Withdrawal charges

No withdrawal penalties apply

How to withdraw

  • Cash
  • Bankers draft
  • Transfer to a TSB current or savings account in your own name

(Fees may apply to some of these services, please see our Savings Account General Conditions for more information)

Additional information

  • Accounts can only be opened in a sole name.
  • You can only pay into a cash ISA from one provider in each tax year.
  • Opening a Cash ISA Saver will limit the amount that can be invested in stocks and shares or innovative finance ISA. To find out more about this, speak to our Partners in your local branch or call us.
  • The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
  • If you aren't happy with your Cash ISA Saver, you cancel within 14 days of opening without charge. You'll still be able to open another cash ISA account in the same tax year with us or another provider.
  • You can also close your account after 14 days, but you won't be able to open or subscribe to a cash ISA with a different provider until the next tax year.

Rates and information correct as at 06/04/2021.  

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Tax free rate is the contractual rate of interest payable where interest is exempt from income tax.


More information

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.

How to apply

Cash ISA Saver

Already registered for Internet Banking?

Log in and apply

Or, if you're not yet registered

Apply online

Or alternatively, apply in a branch

ISA guide

Everything you need to know about ISAs and how to make the most of your annual ISA allowance.

Read our ISA Guide

Financial Services Compensation Scheme


Visit to find out more

How to apply

Cash ISA Saver

Already registered for Internet Banking?

Log in and apply

Or, if you're not yet registered

Apply online

Or alternatively, apply in a branch

How to top up an existing TSB Cash ISA

  • Internet Banking - select the account you want to make the payment from and then select "Make a transfer"
  • Mobile app – tap “Move money” and then follow the steps
  • Telephone Banking (automated service) - when prompted, say or select “transfer money”. View our guide to Telephone Banking

Some customers may be prevented initially from adding money to their existing cash ISAs from 6 April. This is due to the Government’s requirement to request that customers agree a new ISA declaration if they did not add money to their cash ISA in the previous tax year. It’s easy to reactivate your cash ISA. Simply log in to Internet Banking, select the cash ISA you want to add money into, click reactivate and follow the online instructions.


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