Savings Pots are mini instant-access accounts - and you can have 5 of them to organise your money and move it back and forth from your TSB current account.
Up to 1.70% interest
Earn 1.70% AER for the first 12 months, then 1.20% AER after
Instant access
You can withdraw your money at any time with no fees or charges.
It’s all in the app
Set up and manage your Savings Pots in our app.
What are Savings Pots?
- Savings Pots keep your money organised, whether you’re budgeting for the month or saving for a goal
- You can open up to 5 Savings Pots, and with a limit of £5,000 in each - to a maximum of £25,000
- Personalise your pots with savings goals and rename them to easily track it at a glance
Are Savings Pots right for you?
This account is for:
- If you have a Spend & Save or Spend & Save Plus account
- Managing your instant access savings in the app
- Automating your savings with a standing order
- Using with Save the Pennies to save when you spend
This account is not for:
- Anyone without a Spend & Save type account. You can open a new account or upgrade an existing one.
- Saving more than £25,000 or £5,000 per pot
- Tracking more than 5 savings goals at once
How much could you earn in interest?
If you put in £1,000 when you opened the account and make no withdrawals and no further deposits, the balance after 12 months will be £1,017.00. This assumes the interest rate stays the same for 12 months.
Summary box
All the information you need to know about this savings account can be found here:
| Interest rate with bonus (includes a fixed bonus of 0.50% for the first 12 months) | 1.68% Gross/ 1.70% AER (variable) |
|---|---|
| Interest rate without bonus (applicable after 12 months) | 1.19% Gross/ 1.20% AER (variable) |
Sometimes we offer different bonus rates. If we do this, you can choose to add or replace an existing bonus rate with a new one. This is called ‘renewing’ your account. You can renew your account at any time and as often as you like. Bonus rates are fixed and last for 12 months. Always check the rates first. For more information on how to renew your account, see the ‘Additional information’ section below.
Interest payments
Interest is calculated each day and paid monthly.
Yes. We can move the interest rate up or down at any time. Our Savings Pots 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 14 days’ notice.
Based on a £1,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same.
| Year 1 | Year 2 |
|---|---|
| Interest earned at 1.68% Gross/ 1.70%AER (variable) (includes a fixed bonus of 0.50% for the first 12 months) |
Interest earned at 1.19% Gross/ 1.20% AER (variable) |
| £17.00 | £12.20 |
| Estimated balance after 12 months | Estimated balance after 24 months |
| £1,017.00 | £1,029.20 |
This is an example only and doesn’t take into account your individual circumstances.
| Who can open | You must be:
|
Ways to open |
A Savings Pot is opened automatically with a Spend & Save or Spend & Save Plus account. You can also open additional pots in the following channels:
|
| How much money can I put in my account? | £5,000 is the maximum that can be paid into your Savings Pot. This excludes interest earned on the account. |
| Open with | £1 minimum opening balance. |
| Manage your account |
|
| Are withdrawals allowed? | Yes, instant access |
| Withdrawal charges | No withdrawal penalties apply |
| How to withdraw | Transfer to the Spend & Save or Spend & Save Plus account linked to your Savings Pot.
|
- Accounts can be held in sole or joint names, and will reflect the names on the Spend & Save or Spend & Save Plus account linked to your Savings Pot
- 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 by visiting a TSB branch or via the mobile app
- You can have up to 5 Savings Pots per Spend & Save or Spend & Save Plus account.
To check our rates and find out how to renew your account - click here
Or you can :
- Log into Internet Banking
- Call us on 0345 975 8758 – lines are open – 8am to 8pm every day
- Chat to us in the TSB Mobile Banking App
- Visit a TSB branch
Rates and information correct as at 03/07/2025.
Open a Savings Pot in your TSB app
Already a TSB customer?
If you’re a Spend & Save or Spend & Save Plus account holder
18 or over, and a UK resident
Head to your TSB app, log in, and open a Savings Pot.
Open a Savings Pot in your TSB app
Don’t bank with us?
You’ll need a Spend & Save or Spend & Save Plus account to open a Savings Pot
Important documents
Any questions?
The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of your eligible money at TSB. For more information, please visit the FSCS website.
Important Information
*Variable means the interest rate on your savings can change. The rate can go up and down. If it goes up, you earn more interest. If it goes down, you’ll earn less interest, but we’ll tell you before this happens. If you’d like to know more about what might happen to our variable interest rates when the Bank of England changes the Base Rate, head over to our Popular Questions page at www.tsb.co.uk/savings/
The Annual Equivalent Rate (AER) shows what the interest would be if the interest was paid and added to the account once each year. It lets you compare savings accounts easily. Gross rate means that credit interest is paid without income tax being deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
You need to be 16+ and UK resident to open most of our savings accounts with the exception of Savings Pots and TSB ISAs. For children under 16 please see specific pages for opening procedures.
