Save Well Limited Access Account

Be rewarded for not touching your savings with this instant access account that gives you a higher rate of interest in months when you don’t make a withdrawal.

Reasons to choose a Save Well Limited Access Account

Earn a higher rate of interest of 3.68%/3.75% Gross/AER in months you don’t make a withdrawal
12 month term
Instant access to your money, but you’ll earn a lower interest rate of 0.49%/0.50% Gross/AER variable in months that you make a withdrawal
Interest is paid monthly
Manage your Savings account online with our mobile app and Internet Banking

These rates are applicable for accounts opened from 08/02/2024. View previous rates

Summary box

What is the interest rate?
Account name	Save Well Limited Access Account
	Interest rate for months where no withdrawals are made		Interest rate for any month in which a withdrawal is made
	3.68%/3.75% Gross/AER (variable)		0.49%/0.50% Gross/AER (variable)
	Interest 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 an Easy Saver (excluding the bonus rate). We’ll contact you before this happens with your options to continue saving.
Can TSB change the interest rate?	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.
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:
	Initial deposit		£1,000
	Interest earned at 3.68%/3.75% Gross/AER (variable)			£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	Based on a £1,000 deposit, with no further deposits, £10 withdrawn on the first day of months 1 and 2, and variable interest rates remaining the same.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% Gross/AER (variable) for months 1 and 2 (withdrawals)			£0.80
	Interest earned at 3.68%/3.75% Gross/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.
How do I open and manage my account?	Ways to open	Online In branch
	Who can open	You must be: 16 or over; and A UK resident
	Open with	£1 minimum opening balance No maximum limit on the amount that can be held in the account
	Manage your account	In branch Over the phone Online Mobile app
Can I withdraw money?	Withdrawals allowed		Yes, instant access
	Notice period		None
	What happens if I make a withdrawal?		If you make a withdrawal during the term of your Save Well Limited Access Account, 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% Gross/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)
Additional information	Accounts can be held in sole or joint names Interest is paid gross (without taking off 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 If you aren’t happy with your account, you can cancel it within 30 days of opening without charge. If you choose to close your account after 30 days and before the end of the term, a lower interest rate will apply for that calendar month. 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 an Easy Saver. We’ll contact you before this happens with your options to continue saving. Rates and information correct as at 08/02/2024

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross rate is the contractual rate of interest payable before the deduction of income tax.

More information

Existing customers Press to expand/collapse

Get more from your Save Well Limited Access Account

As a Save Well Limited Access Account holder you can take advantage of the many TSB services that we have on offer to help you get the most from your money.
Save the Pennies - You can nominate your Save Well Limited Access Account for Save the Pennies and every time you make a purchase with your TSB Visa debit card, the amount you spend will be rounded up to the nearest pound. We'll then transfer the difference into your nominated TSB savings account the next working day.
Set up a standing order - saving regularly from your current account is the easy way to grow your savings.
Rename your account to suit you, such as holiday, rainy day or simply savings. All you need to do is click on your Save Well Limited Access Account in Internet Banking and change nickname. The name you choose will only appear in Internet Banking and not appear on your statements.
Transfer money instantly between your Save Well Limited Access Account and TSB current account.
Turn off paper statements. Quickly find what you are looking for - search your statements instantly. Cut down on paperwork by stopping your postal statements.

Financial compensation scheme Press to expand/collapse

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.