Tesco Bank Internet Saver Review4.24% AER (Sep 2026)

Easy Access from Tesco Bank

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Protection

FSCS

Up to £120,000

Min balance

£1

Max balance

£1,000,000

Access

Instant

Interest paid

Annually

The Rate You'll Get

Learn more about Tesco Bank

First 12 months

Boosted

4.24%

AER

Includes a 3.19% boost for 12 months

Standard rate (after 12 months)

1.05%

AER

Who Is This For

New and existing savers
Those wanting easy access
Savers happy with a £1,000,000 cap

Additional Info

Unlimited deposits and withdrawals. Apply online or by phone and manage via the Mobile Banking App, Online Banking or phone. Applicants must be UK residents aged 18 or over and have a linked UK personal current account in their own name. No Tesco Bank current account is required.

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

Estimated returns with Tesco Bank's Easy Access

Want to know how much interest you will receive with Tesco Bank's Internet Saver?

Estimated interest

£1,000 saved

£42.40

At 4.24% AER

£5,000 saved

£212

At 4.24% AER

£10,000 saved

£424

At 4.24% AER

£1,000,000 saved

£42,400

At 4.24% AER

Estimated over one year, 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 Internet Saver

The Tesco Bank Internet Saver suits anyone who wants easy access to their cash and is happy to open with as little as £1, though the 4.24% rate is a 12-month bonus deal built on a base rate of just 1.05%, so you need to be prepared to move your money when that boost expires. The interest payment schedule is also a little fragmented, with bonus interest paid on your opening anniversary and standard interest paid in March, which is worth knowing if you like things simple. I would still check the Hanley Economic BS Dual Access Saver at 4.27% or the United Trust Bank Limited Access Saver at 4.30% before committing, as both edge ahead on rate, though the latter does restrict withdrawals.
Jonny Pease (Co-Founder)DepositScout