Teachers Building Society savings rates — compare every account, plus switch offers and guides

Who they are

Teachers Building Society is a mutual British financial institution founded in 1966 by the National Union of Teachers, now the National Education Union. The backstory is worth knowing. In the sixties, teachers in general and women in particular were considered unattractive lending prospects by high-street providers , so a group of determined founders set up their own building society to change that. TBS founders vowed to give equal treatment to men and women, something unheard of at the time.

By forming a mutual organisation, they guaranteed that the society would focus on the interests of its members - customers who borrow or save - rather than shareholders. Today the society is based in Wimborne, Dorset, and remains small and focused. Because they are the only building society that specialises in teachers, they know the education community well.

Savings accounts

Teachers Building Society specialises in mortgages for people working in the education sector and provides a range of savings products available to everyone. The product range has historically included easy access savings, cash ISAs, notice accounts, and fixed-rate bonds. Building societies work on the basis of using collective savings deposits to support mortgage lending, which means those who save with Teachers are helping the society lend more money to teachers who want to buy a home. It is a straightforward mutual model with a clear social purpose behind it.

We do not currently have live rate data for Teachers Building Society on DepositScout. The rates shown on this page are the most up-to-date figures we hold - always check there before deciding.

Protection and practicalities

Your savings are covered by the FSCS. Savings with Teachers Building Society are protected up to £120,000 under the FSCS deposit guarantee scheme. Teachers Building Society holds its own separate banking licence, so this limit is not shared with any other brand - a clean position if you already save elsewhere.

Some customer reviews point to systems and processes that can feel outdated, with some things still paper-based. That is worth factoring in if slick digital account management matters to you. The society is small, and its focus is firmly on its mortgage mission rather than on competing with the big digital names on technology.

Is it right for you?

Teachers Building Society is a niche, principled mutual. If you work in education, saving here directly supports colleagues trying to get on the property ladder - there is a genuine community angle that most savings providers simply cannot match. If you are not in education, the savings accounts are still open to you, and your deposits carry the same FSCS protection.

That said, with no current rate data available on DepositScout, it is worth checking the live figures on this page before committing, and comparing them against the wider market to make sure the rate works as hard as the purpose does.