Savings Pots

If you’ve got a Spend & Save or Spend & Save Plus account, Savings Pots can help you put money aside for things that really matter to you.

So you can set up individual Savings Pots with names like ‘Holiday Fund’ or ‘New Trainers’.

You can also earn interest along the way, set yourself goals and track how your Savings Pots are growing.

You’ll need to visit us in branch or get the latest version of the Mobile Banking App to take advantage of this new feature.

 

Reasons to choose Savings Pots

  • You can rename your Savings Pots, set goals and track how you’re doing on our mobile app and via Internet Banking
  • A variable  rate of interest of 2.89% Gross / 2.92% AER – this rate includes a fixed introductory bonus of 1.52% AER for the first 12 months. After 12 months, the variable rate without bonus will apply
  • You can easily transfer money between your Savings Pot and Spend & Save or Spend & Save Plus account
  • Interest is paid monthly
  • You can have up to five Savings Pots for each Spend & Save or Spend & Save Plus account – one for each of your savings goals
  • There is a maximum balance of £5,000 per Savings Pot (£25,000 per Spend & Save or Spend & Save Plus account)
  • Use the Spend & Save or Spend & Save Plus account’s flexible features such as Auto Balancer to top up your current account when it gets low and Save the Pennies to help you save as you spend
  • To open this account you must be;
  • 18 or over, and
  • A UK resident, and
  • A Spend & Save or Spend & Save Plus account holder

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 add this feature

Simply open your Savings Pots through our mobile app

 
Available exclusively to our Spend & Save and Spend & Save Plus customers
 
 
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. GROSS – Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Important Information

How to add this feature

Available exclusively to our Spend & Save and Spend & Save Plus customers

Simply open your Savings Pots through our mobile app.

Or alternatively, apply in a branch.

Financial Services Compensation Scheme

FSCS


 
Visit fscs.org.uk to find out more