Tesco Bank 18 Month Fixed Rate Saver Review4.85% AER (Sep 2026)

Fixed Rate from Tesco Bank

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Protection

FSCS

Up to £120,000

Min balance

£2,000

Max balance

£5,000,000

Access

No access until maturity

Interest paid

Monthly/
Annually

Who Is This For

Learn more about Tesco Bank

New and existing savers
Savers happy with a £5,000,000 cap
Savers who can deposit at least £2,000
Savers who can lock money away for 18 Months

Additional Info

You can make multiple deposits within the first 30 days of account opening. Your total balance must be at least £2,000 and no more than £5 million by the end of this period.

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Calculate your tax liability for this accountSee what you might pay on the interest from Tesco Bank's 18 Month Fixed Rate Saver.

Estimated returns with Tesco Bank's Fixed Rate

Want to know how much interest you will receive with Tesco Bank's 18 Month Fixed Rate Saver?

Estimated interest

£5,000 saved

£368

At 4.85% AER

£10,000 saved

£736

At 4.85% AER

£50,000 saved

£3,681

At 4.85% AER

£5,000,000 saved

£368,125

At 4.85% AER

Estimated over the 18-month term, assuming the rate stays the same and interest stays in the account. Amounts outside this account's minimum or maximum balance are left out.

Our Expert Opinion on Tesco Bank 18 Month Fixed Rate Saver

Tesco Bank's 18 Month Fixed Rate Saver pays 4.85% and is a decent fit for anyone who has a lump sum they genuinely will not need for a year and a half, with the £2,000 minimum keeping it accessible to most savers. The hard catch is that there is no access until maturity, so this is not the place for money you might need in an emergency. I would still check the Kent Reliance 18 Month Fixed Rate Bond at 5.06% and the Chetwood Bank 18 Month Fixed Rate Savings at 4.90%, both of which beat this rate over the same term.
Jan Watermann (Co-Founder)DepositScout