Tandem Bank savings rates — compare every account, plus switch offers and guides

Who they are

Tandem launched in 2014 as one of the UK's original digital challenger banks, with a focus on simple, honest savings and mortgage products. The acquisition of Harrods Bank in 2017 gave the company its own banking licence , and it has grown steadily since - picking up green lender Allium in 2020 and consumer lender Oplo in 2022. It operates entirely digitally, with a mobile app and no branches. Tandem places a strong emphasis on environmental impact, directing funds toward green initiatives such as solar panel installations and electric vehicle financing. Notably, Tandem doesn't offer its own current account - it is a savings and lending specialist, not a full-service bank.

Savings accounts

Tandem's savings range covers easy access, fixed-rate bonds and Cash ISAs, with a minimum deposit of just £1 on most accounts. The standout product right now is the Fixed Term Saver (1 Year) at 4.60% AER, though that requires a £1,000 minimum. For the ISA side, the 2 Year Fixed Rate Cash ISA pays 4.55% AER, and the 1 Year Fixed Rate Cash ISA comes in at 4.45% AER - both with a £1 minimum. If you'd rather keep access to your money, the Instant Access Cash ISA advertises 4.00% AER, but note this includes an introductory bonus rate for the first 12 months - after that it reverts to the standard variable rate, so set a reminder well before the year is up. The plain Instant Access Saver sits at 3.40% AER, which includes a 0.25% boost for the first 12 months on top of a 3.15% base rate.

All accounts carry FSCS protection up to £120,000 - higher than the standard £85,000 limit - because Tandem Bank holds its own banking licence.

Is it right for you?

Tandem is a reasonable choice if you want app-based savings with competitive fixed rates, a low entry point, and a bank whose green lending mission you can get behind. The lack of a current account means it works alongside your existing bank rather than replacing it - which suits plenty of savers perfectly well. The bonus element on the Instant Access Cash ISA and Instant Access Saver is worth keeping an eye on: the headline rate is real, but it will not last forever.

As ever, rates move. Check the live figures on this page before you open anything - what looks sharp today may have changed by the time you read this.