If you’re not planning on making withdrawals, this savings account pays up to 3.75% AER interest. Plus, anything you save will be part of your tax-free ISA allowance. If you need to make a withdrawal, you’ll earn 0.50% tax free/AER interest for that month.
What is it good for?
Earn up to 3.75% AER (variable)
If you don’t make a withdrawal you’ll earn 3.68%/ 3.75% tax free/AER (variable) that month
Instant access savings
Withdraw whenever you need it. You’ll earn 0.49%/ 0.50% tax free/AER for that month
Save tax-free
Your ISA allowance for the tax year ending 5 April 2025 is £20,000
Benefits
- Our Save Well Limited Access ISA offers tax-free savings that rewards you for not making withdrawals, but if you need to, it’s easy to access your money.
- Earn 3.68%/ 3.75% tax-free/AER for months that you don’t make a withdrawal
- Earn 0.49%/ 0.50% tax-free/AER variable for months where you take money out
- This savings account has a 12-month term, with interest being paid monthly
- Manage your account online, using the TSB Mobile Banking App, over the phone, or in branch
Summary box
Interest rate for months where no withdrawals are made |
Interest rate for any month that a withdrawal is made |
| 3.68%/ 3.75% Tax free/AER (variable) | 0.49%/ 0.50% Tax free/AER (variable) |
Interest rate is calculated each day and paid monthly on the 1st of each month. If you have selected to pay interest to a different account, interest will be paid on the first working day of the month.
At the end of the 12-month term the account will switch to a Cash ISA Saver (excluding the bonus rate). We’ll contact you before this happens with your options to continue saving.
Yes. We can move the interest rate up or down at any time. Our Savings Account General 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.
| Based on a £1,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same: | |
| Initial deposit | £1,000 |
| Interest earned at 3.68%/ 3.75% Tax free/AER (variable) for the first 12 months | £37.50 |
| Estimated balance after 12 months | £1,037.50 |
Based on a £1,000 deposit, with no further deposits, £10 withdrawn on the first day of months 1 and 2, and variable interest rates remaining the same. NB: The below projection allows for limited withdrawals only. If you anticipate making regular withdrawals during the account term, this may not be the most appropriate option to suit your needs. |
|
| Initial deposit | £1,000 |
| Interest earned at 0.49%/ 0.50% Tax free/AER (variable) for months 1 and 2 (withdrawals) | £0.80 |
| Interest earned at 3.68%/ 3.75% Tax free/AER (variable) for months 3 to 12 (no withdrawals) | £30.65 |
| Total Interest earned for the 12 months | £31.45 |
| Estimated balance after 12 months | £1,011.45 |
These are examples only and do not take into account your individual circumstances. |
Ways to open:
- In branch
- Online
To open, you must be:
- 18 or over
- A UK resident
Open with:
- £1 minimum opening balance
- Maximum subject to the annual ISA allowance (£20,000 for 2024/2025), plus transfers in from other existing ISAs
- No maximum limit on the amount that can be held within the account
Manage your account:
- In branch
- Over the phone
- Online
- Mobile app
Yes, withdrawals are allowed.
You can withdraw and replace money from your Save Well Limited Access ISA without it counting towards your yearly ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal.
Notice period:
None
Withdrawal charges:
If you make a withdrawal during the term of your Save Well Limited Access ISA, the interest rate applied to the balance for the whole calendar month in which your withdrawal is made, will be a lower rate of 0.49%/ 0.50% Tax free/AER (variable)
How to withdraw:
- Cash
- Bankers draft
- Transfer to a TSB current or savings account in your own name
(Fees may apply to some of these services, please see our Savings Account General Conditions for more information)
- Accounts can only be opened in a sole name.
- Opening a Save Well Limited Access ISA will limit the amount that can be invested in stocks and shares or innovative finance ISA. To find out more about this, speak to our Partners in your local branch or call us.
- The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
- If you aren't happy with your Save Well Limited Access ISA, you cancel within 14 days of opening without charge.
- If you chose to close the account before the end of the term, interest will be paid to the day before account closure. The interest rate will be the lower rate that is normally applied to months in which a withdrawal is made.
- At the end of your term, your account will convert to a Cash ISA Saver. We’ll contact you before this happens with your options to continue saving.
Rates and information correct as at 06/04/2024.
Important information
How to apply?
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New to TSB?
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If you prefer to apply in branch or through telephone banking, you can book an appointment in advance.
Our other instant access accounts
Savings Pots
- 2.80%/2.82% interest gross/AER variable
- Open a maximum of 5 savings pots and save up to £5,000 in each pot
- Instant access
- Includes a fixed introductory bonus of 1.52% AER for the first 12 months
- If you have a Classic Plus or Classic Enhance you can convert it to a Spend & Save account using this online form or by visiting us in branch. Or you can convert to our Spend & Save Plus account in branch
eSavings
- 1.40% interest gross/AER variable
- Earn more interest on larger balances
- Instant access
- Includes a fixed introductory bonus of 0.10% for the first 12 months
Easy Saver account
- 1.40% interest gross/AER variable
- Interest paid yearly
- Instant access
- Includes a fixed introductory bonus of 0.10% for the first 12 months
Need any help?
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It’s easy for you to pop in and manage your finances.
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.
Tax-free means the interest paid will be free from UK Income Tax. The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
16+ and UK resident
