from 77 ratings
77 customers rated their Tesco Bank savings as 3.9 out of 5 in our Consumer Finance Awards and Reviews.
Customer Service
Flexibility & Fairness
Product Features
Value For Money
Tesco Bank have a large range of savings accounts available to personal customers, including cash ISAs, fixed rate savers and instant access savings accounts. The supermarket giant allows you to manage all your savings online via the Tesco Bank website and is covered the Financial Services Compensation Scheme.
Tesco Bank Junior Cash ISA
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Junior Cash ISA£1.003% variable
on £1+
FSCSOnline & Phone
Tesco Bank 5 Year Fixed Rate Saver Annual
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.8% fixed
for 5 years
on £2,000+
FSCSPhone
Tesco Bank 5 Year Fixed Rate Saver Monthly
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.8% fixed
for 5 years
on £2,000+
FSCSPhone
Tesco Bank 4 Year Fixed Rate Saver Annual
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.55% fixed
for 4 years
on £2,000+
FSCSPhone
Tesco Bank 4 Year Fixed Rate Saver Monthly
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.55% fixed
for 4 years
on £2,000+
FSCSPhone
Tesco Bank 3 Year Fixed Rate Saver Annual
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.3% fixed
for 3 years
on £2,000+
FSCSPhone
Tesco Bank 3 Year Fixed Rate Saver Monthly
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002.3% fixed
for 3 years
on £2,000+
FSCSPhone
Tesco Bank 2 Year Fixed Rate Saver Annual
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002% fixed
for 2 years
on £2,000+
FSCSPhone
Tesco Bank 2 Year Fixed Rate Saver Monthly
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.002% fixed
for 2 years
on £2,000+
FSCSPhone
Tesco Bank 1 Year Fixed Rate Saver Annual
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.001.7% fixed
for 1 year
on £2,000+
FSCSPhone
Tesco Bank 1 Year Fixed Rate Saver Monthly
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£2,000.001.7% fixed
for 1 year
on £2,000+
FSCSPhone
Tesco Bank Fixed Rate Cash ISA
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Cash ISA£1.001.65% fixed
for 1 year
on £1+
FSCSOnline & Phone
Tesco Bank Instant Access Cash ISA
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Cash ISA£1.001.45% variable
on £1+
-Online & Phone
Tesco Bank Internet Saver
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Easy Access£1.001.4% variable
on £1+
FSCSOnline
Tesco Bank Instant Access Savings
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Instant Access£1.000.75% variable
on £1+
FSCSOnline & Post

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Tesco Bank Savings Reviews

tesco savings account

by pannama, 1 day ago
Easy to manage online
Poor interest rate when bonus runs out
Recommended by pannama

Make sure you start with a good bonus rate - mine runs out soon. Easy to handle online, interest is good with a bonus. Interest not paid monthly. Online site combines all products. No problems, never had the need to use customer service, plenty of information online. easy to transfer money between savings and credit card, also ties in if you have a current account

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Good, I'm happy
Product Features:
Good, I'm happy
Value For Money:
Good, I'm happy


A very useful account

by psalmody, 3 days ago
In store convenience
more difficult to no notice transfer large amounts
Recommended by psalmody

I found being able to pay in to this account in-store incredibly useful - no extra journeys or post charges. It has been a very usable account. The interest has been up and down but still better than many bank accounts. It is easy to get transfers in and out of the bank via telephone banking. I haven't had any problems on the whole and I have been an account holder since the bank opened. Sometimes I have had to wait in store for an appropriate member of staff to be at the service desk, but on the whole the account has been easy to manage and use.

Customer Service:
Excellent
Flexibility & Fairness:
Good, I'm happy
Product Features:
Good, I'm happy
Value For Money:
Average, could be better


Fair Interest Rates

by pcthaw, 2 weeks ago
Interest rates
No cash card
Recommended by pcthaw

Interest rates have stayed competitive but would still check as bonuses have come and gone as with most savings accounts. Was easy to set up account and customer service on the phone is very good. Easy to manage the account on website. However, there is no cash card so you have to be organised and transfer money when you need it.

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Good, I'm happy
Product Features:
Average, could be better
Value For Money:
Good, I'm happy


Allows direct debit payments in

by adampa, 3 weeks ago
Direct debit payments, competitive interest
Easy to get locked out of online
Recommended by adampa

One of the few accounts that allows funding via direct debit, so can set it and forget it. Excellent for regular saving. Downside is that Tesco security is ridiculously over the top, and it is easy to get locked out of your account necessitating a phone call. This starts with failing to recognise the computer (because in this day and age, people clear cookies regularly or get the browser to do it for them). However customer service is excellent when needed.

Customer Service:
Excellent
Flexibility & Fairness:
Excellent
Product Features:
Excellent
Value For Money:
Good, I'm happy


isa account easy access

by mclord, 1 month ago
good rate at start
No benefits

When I opened the account it paid 2 percent but out it only pays 1.5 if not 1.25! Would be nice if you got clubcard points for every certain amount held in account or for not making withdrawals but no such luck there! Was best on offer when got it but not now so will close it soon! The website it clear and find the app very easy to use! Haven't used customer services so can't comment there!

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Average, could be better
Product Features:
Average, could be better
Value For Money:
Average, could be better


Tesco Bank Savings Account

by robwhi, 1 month ago
easy to set up and good interest rate

Tesco offered a better rate of interest than others. It was very easy to set up the account and I have had no problems with it. Having said that I have not really had much activity on the account. I am a little worried that in their present poor financial situation Tesco bank may decide to appropriate the funds in their accounts to help plug the hole of £250 million that their poor management has left them with. On the other hand any losses will be covered by the government so maybe nothing to worry about.

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Good, I'm happy
Product Features:
Good, I'm happy
Value For Money:
Good, I'm happy


tricky start to my usage with tesco

by scottst34, 1 month ago
good interest rate
bad start
Recommended by scottst34

I had the online banking with the tesco credit card, so thought adding this online saver - with something like a 1.3% interest rate - would be easy. It wasn't and took a fair old while. When I asked them to transfer (using online method) £500 into my bank account (with another organisation) to get that firms good rate of interest, it went horribly wrong, and they took OUT £500 instead. This is now ok, but it was a stressful start, and has put me off recommending this online saver to others, and indeed branching out to get a tesco current account, if this is what they do.

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Good, I'm happy
Product Features:
Good, I'm happy
Value For Money:
Good, I'm happy


No problems. 5 year fixed rate.

by iacamp, 1 month ago
Interest rate was OK
Recommended by iacamp

Straightforward application process. The interest is paid annually to my Current Account at another bank. Interest rate is competitive, or I'd have gone elsewhere. Everything done on-line without the need to involve salesmen or "advisors". I would definitely consider this product if you have already used up ISA allowances and the rate is still OK.

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Good, I'm happy
Product Features:
Good, I'm happy
Value For Money:
Good, I'm happy


Tesco Savings Bank review

by Bilbette, 1 month ago
Accessibiliyt and interest rates
Recommended by Bilbette

I have nothing but praise for Tesco bank as their saving account has been nothing but good for me, being able to add to it at random when shopping, getting a good interest rate, collecting reward points and having my money always accessible. In answer to your question, how did I find the product: via an email sent to me directly from Tesco. I find their customer service to be very good - friendly, informative and understanding

Customer Service:
Excellent
Flexibility & Fairness:
Excellent
Product Features:
Excellent
Value For Money:
Excellent


Tesco online banking complicated access process.

by davidwm46, 28 Jun 2013
Online banking from well known company
Not user friendly, low interest rates imminent .

Online access is not user friendly and does not lean towards a pleasant experience. If a mistake is made in entering your access details, and believe me, this can be done quite easily due to the web pages convoluted nature, you are locked out and have to phone customer services to reset. Even finding this telephone number is frustrating as the help section sends you round in circles. As an example, try and find their existing accounts interest rates ! Also Tesco have announced that from August their interest rates are being dropped to a run of the mill figure no better than the competition.

Customer Service:
Good, I'm happy
Flexibility & Fairness:
Average, could be better
Product Features:
Poor, could be greatly improved
Value For Money:
Average, could be better


Savings Account Companies