Savings Pot
Please see below our Savings Pot Summary Box which will give you key information about your Savings Pot.
What is the interest rate?
| For Spend & Save Savings Pots | For Spend & Save Plus Savings Pots |
|---|---|
| 1.44%/1.45% | 1.53%/1.55% |
All interest rates are Gross/AER (variable). Interest is calculated each day and paid monthly.
If you downgrade from a Spend & Save Plus account to a Spend & Save account you will receive a lower interest rate on your Savings Pot(s).
If you upgrade from a Spend & Save account to a Spend & Save Plus account you will receive a higher interest rate on your Savings Pot(s).
Can TSB change the interest rate?
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 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 tsb.co.uk and through telephone banking.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on a £1,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same:
Year 1
| Interest earned | Estimated balance after 12 months | ||
|---|---|---|---|
| Spend & Save Savings Pots interest earned at 1.44%gross/1.45%AER (variable) | £14.50 | £1,014.50 | |
| Spend & Save Plus Savings Pots interest earned at 1.53%gross/1.55%AER (variable) | £15.50 | £1,015.50 |
This is an example only and doesn’t take into account your individual circumstances.
Rates and information correct as 01/03/2026.
How do I open and manage my account?
- A Savings Pot is opened automatically with a Spend & Save or Spend & Save Plus account. You can open up to 5 Savings Pots for each Spend & Save or Spend & Save Plus account via the mobile app or in a TSB branch.
- In order to open a Savings Pot, you must be: 18 or over, a UK resident and have a Spend & Save or Spend & Save Plus account.
- £100,000 is the maximum that can be paid into your Savings Pot. This includes interest that has been added to the account. For example, if you put in £95,000 and earn £1,000 interest, you can only add £4,000 more. Your balance can exceed £100,000 with interest you earn.
- You can have up to 5 Savings Pots for each Spend & Save or Spend & Save Plus account. You can manage your account via the mobile app, in branch, over the phone or online.
Can I withdraw money?
Yes, you have instant access to your savings with no withdrawal penalties.
In order to withdraw you will need to transfer to your Spend & Save or Spend & Save Plus account linked to your Savings Pot.
Additional Information
- 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 the 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.
- You can close your Savings Pot account(s) at any time without charge by visiting a TSB branch or via the mobile app.
- Please note you will not be able to transfer money from an arranged overdraft on a Spend & Save account to your Savings Pot via the Mobile App. You can do this via a TSB branch, Telephone Banking or Internet Banking.
- The Savings Pots terms and conditions and the Financial Services Compensation Scheme (FSCS) information sheet govern the Savings Pot that you are applying for. They contain important information including eligibility and features. It is important that you read and understand them. If you have any questions, then please get us in touch with us before confirming that you wish to open your Savings Pot. We recommend that you print and/or download a copy for your records.