This comparison simply includes all savings accounts.
TSB Savings Accounts
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Compare TSB savings accounts
TSB is a retail and commercial bank which is a subsidiary of the Sabadell Group. Their range of savings accounts include some options best suited to long term saved and other which are ideal for short term saving. Below is a breakdown of TSB’s main types of savings accounts.
Current Accounts
Current accounts often give the best rates of interest on the market, but only up to a certain deposit threshold.
If your savings are more than your account will pay interest on, transfer the excess balance to a different account and you will almost certainly see a better return overall.
Instant Access Savings Accounts
If you are keen on flexible saving, an instant access account is hard to beat. This will let you make deposits and withdrawals as often as you like, although bear in mind there may be an annual limit on withdrawals.
Instant access accounts will usually allow you to make transfers online or by phone and some even offer a cash card that means you can take money out at a standard ATM.
Fixed Rate Bonds
For savers with a significant deposit they want to earn a reliable return on, fixed rate bonds tend to be ideal. In exchange for not being able to access your money for a set amount of time (usually 1-5 years), you will be offered a fixed rate of interest for the life of the bond.
Generally speaking, the interest rates on fixed rate bonds are pretty rewarding, making this a good way to save if you are confident you will not need your deposit in the near future.
Cash ISAs
If you are liable to pay UK tax, putting part of your savings into a fixed rate ISA may be a smart plan. This allows you to earn interest tax-free on deposits up to a combined yearly total set by the government. For the 2017/18 tax year that amount is £20,000.
When choosing an ISA, there are two main types to be aware of - instant access and fixed-term. Instant access cash ISAs let you take out money whenever you need without paying a penalty, so are best for short term saving. Fixed-term cash ISAs work much like fixed rate bonds, in that you will receive a guaranteed return in exchange for locking your money away for a set period. In general, fixed term ISAs will have better interest rates than the instant access variety.
Find the best TSB savings account for you
Our savings account comparison tool (see top of page) takes the hassle out of finding the best deals on savings accounts. You can see the best offers from right across the industry, including all of the top providers, allowing you to find the best match for your personal finances and saving needs.
