Tesco Bank savings rates

Tesco Bank offers a broad range of savings accounts with interest rates up to 4.33%.

3.9 ★★★★★ (109 reviews) Write a review
Tesco Bank

Formerly a partnership with RBS, Tesco Bank is now owned and operated by Barclays, and provides a respectable range of savings products covering instant access accounts, bonds, ISAs and junior savings. Tesco Bank's top savings rate of 4.33% is available on one of its fixed-rate bond accounts.

Easy access savings accounts

Table: sorted by interest rate
Tesco Bank's best easy access rate of 4.15% is significantly lower than today's market-best rate of 6%.
Product Account type Withdrawals Min. opening balance Rate Deposit protection Open via Incentive
Tesco Bank logo
Tesco Bank Internet Saver
Variable Rate
Instant access
£1
4.15% AER variable (on balances up to £1,000,000) (includes a 3% bonus )
FSCS logo
protected
Open via: website.
Go to siteMore info
loading
Showing 1 of 1 results
Compare more instant and easy access accounts up to 6%

Cash ISAs

Table: sorted by interest rate
Tesco Bank's best cash ISA rate of 4.08% is lower than today's market-best rate of 5.44%.
2 of 2 results
Product Rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description
Tesco Bank logo
Tesco Bank Instant Access Cash ISA
4.08% AER variable (includes a 2.93% bonus )
£1
Annually
Instant access
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
Tesco Bank logo
Tesco Bank Fixed Rate Cash ISA
3.95% AER fixed for 1 year
£1
Maturity
Instant access (charge applies )
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
loading
Showing1 - 2 of 2 results
Compare more ISAs up to 5.44%

Fixed-rate bonds

Table: sorted by interest rate
Tesco Bank's best fixed-rate bond rate of 4.33% is significantly lower than today's market-best rate of 7.5%.
5 of 10 results
Product Rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description
Tesco Bank logo
Tesco Bank 1 Year Fixed Rate Saver
3.8% AER fixed for 1 year
From £2,000
Annually
Withdrawals not permitted
Website, telephone
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
Tesco Bank logo
Tesco Bank 1 Year Fixed Rate Saver Monthly
3.8% AER fixed for 1 year
From £2,000
Monthly
Withdrawals not permitted
Website, telephone
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
Tesco Bank logo
Tesco Bank 18 Month Fixed Rate Saver Monthly
3.7% AER fixed for 1.5 years
From £2,000
Monthly
Withdrawals not permitted
Website, telephone
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
Tesco Bank logo
Tesco Bank 18 Month Fixed Rate Saver
3.7% AER fixed for 1.5 years
From £2,000
Annually
Withdrawals not permitted
Website, telephone
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
Tesco Bank logo
Tesco Bank 3 Year Fixed Rate Saver Monthly
3.6% AER fixed for 3 years
From £2,000
Monthly
Withdrawals not permitted
Website, telephone
FSCS logo
protected
Open via: website, telephone.
Go to siteMore info
loading
Showing1 - 5 of 10 results
Compare more fixed-rate bonds up to 7.5%

What is Tesco Bank's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Tesco Bank offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds
Best easy access rate 4.15%
Best cash ISA rate 4.08%
Best fixed-rate bond rate 4.33%
Fixed bond terms 1 year - 5 years
Opening options Website, telephone
FSCS protection

How to open a Tesco Bank savings account

Applying for a Tesco Bank account is always online. You will need documents when applying, though. You could be asked for:

  • Photo ID, like a passport or driving licence
  • Your address history for the last 3 years
  • Proof of address, such as a recent gas or electricity bill
  • Proof of your monthly income after tax and national insurance deductions

Tesco Bank customer reviews

In our independent 2025 customer satisfaction survey, 77% of Tesco Bank’s users said they’d recommend the brand to a friend.

The Tesco Bank app has a rating of 4.8 out of 5 from around 300,000 reviews on the App Store. On Google Play, the app has a score of 3.3 out of 5 from over 17,000 Android app users (updated April 2025).

What are the pros and cons of saving with Tesco Bank?

Pros

  • Online and mobile. Manage your savings accounts online or in the Tesco Bank app. Transfer your money between your Tesco accounts and check your balances and transactions.
  • Savings card allows cash withdrawals. Some of its instant access savings accounts come with a card which can be used to make ATM withdrawals straight from the account.
  • Junior ISA. Made for children that don’t have a trust fund. You can start off small and build up the savings pot over time.

Cons

  • Better interest rates elsewhere. Decent rates with some of these options but better ISA and savings account interest rates elsewhere.
  • Easy access is not so easy compared to some competitors. Tesco Bank’s main easy access savings account comes with daily withdrawal limits.
  • Bonus rates. Look out for “bonus” rates that can drop drastically after an intro honeymoon period. At that point, change to a different Tesco Bank savings account or save with a new bank.

Customer service information for Tesco Bank

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict

Tesco Bank savings accounts include instant access, fixed-rate and tax-free options, so should cover your needs, whether you’re looking to save little and often or in big chunks. Read our summary of today’s best savings rates to make sure it’s right for you and see how it weighs up against other savings providers.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.

Your reviews

3.9
★★★★★(0)
5
4
3
2
1

All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.

0 of 0 reviews

Matthew Boyle's headshot
Written by

Publisher

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise
Matthew has written 261 Finder guides across topics including:
  • Helping first-time buyers apply for a mortgage
  • Comparing bank accounts and highlighting useful features
  • Publishing easy-to-understand guides

More guides on Finder

  • Revolut savings review

    Revolut now offers savings accounts to its customers, known as Savings Vaults. You can get interest of paid daily, but the rate depends on which level of account you have. Find out whether Savings Vaults are a good option for your spare cash.

  • NatWest Digital Regular Saver account review

    Get into the savings habit with the NatWest Digital Regular Saver account.

  • Chase Saver account review

    Discover more about the Chase Saver account, including how the boosted rate works and whether it’s worth it.

  • Hargreaves Lansdown Active Savings review

    Find out how the Active Savings product from Hargreaves Lansdown works and how you can use it to manage several savings accounts in one place.

  • Monzo savings review

    By bringing together competitive interest rates and smart app features, Monzo makes a great choice for small savers. Here’s how Monzo savings accounts work.

  • Halifax savings rates review, from savings accounts to ISAs

    Whatever you’re saving for, find the right Halifax savings account for you. Our detailed guide walks you through which of Halifax’s savings accounts is for you.

  • Marcus savings accounts

    Goldman Sachs has launched its savings bank Marcus in the UK. Our review covers the features of its easy-access savings account vs the competition.

  • Nationwide savings account rates compared

    Nationwide’s savings account options explained. Whether you’re happy to tie up your money or need instant access, we’ve covered the options.

  • AA savings accounts overview

    Find out more about the breakdown specialists, and see if they can provide you with the right savings account.

  • Best NatWest savings accounts compared

    The fast pace of the UK banking market forces so-called ‘big banks’ like NatWest to stay ahead of the curve. By constantly refining the user experience with improvements to online banking and mobile apps, NatWest remains one of the UK’s most popular banks.

Go to site