Monthly Saver Account

If you've got a TSB current account, you can save in a Monthly Saver and enjoy instant access with a great fixed rate.

Reasons to choose Monthly Saver

  • Get an interest rate of 6.00% Gross/AER, fixed for a year
  • Save between £25 and £250 a month by standing order
  • Immediate access to your money with no withdrawal charges
  • To open this account you must be;
  • 16 or over, and
  • A UK resident, and
  • A TSB current account holder
  • At the end of the term the account will switch to a variable rate Easy Saver account,  which will include a fixed bonus for the first 12 months.
  • Manage your account online with our mobile app and Internet Banking

Please note - you need to have a TSB current account to apply for a Monthly Saver. If you close your Monthly Saver before the end of the 12 month term, you won't be able to open another account before the first anniversary of this account.

More information

Get more from your Monthly Saver

  • As a Monthly Saver account holder you can take advantage of the many TSB services that we have on offer to help you get the most from your money.
  • Rename your account to suit you, such as holiday, rainy day or simply savings. All you need to do is click on your Monthly Saver account in Internet Banking and change nickname. The name you choose will only appear in Internet Banking and not appear on your statements.
  • Turn off paper statements. Quickly find what you are looking for - search your statements instantly. Cut down on paperwork by stopping your postal statements.

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.

If you open a Monthly Saver account, you must pay in one standing order of between £25 to £250 each month. The first payment must be made within 30 days of account opening.

You can set up a standing order during the application on the 'You're almost there' page, by selecting 'Set up a Standing Order from a TSB account'. If you leave the page without doing this, you'll need to set up the standing order from a TSB account as an external transfer using the 'Pay a person or company' tab on the 'Set up a Standing Order' page in Online Banking.

Apply online today

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

How to apply

Monthly Saver

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

Financial Services Compensation Scheme


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