Save Well Limited Access ISA

Interest rate is calculated each day and paid monthly on the 1st of each month. If you have selected to pay interest to a different account, interest will be paid on the first working day of the month.

At the end of the 12-month term the account will switch to a Cash ISA Saver (excluding the bonus rate). We’ll contact you before this happens with your options to continue saving.

Yes. We can move the interest rate up or down at any time. Our Savings Account General Conditions explain when we'll do this.

If we increase the interest rate, we’ll make details of the rate change available in branch, on the phone and on our website, within 3 days of the change. If we decrease the interest rate, we’ll let you know personally 14 days in advance. You can close your account without charge within 30 days of the change, and at any other time. We may not do this if you have £100 or less in your account. Instead, we may tell you about it by making details of the change available in our branches, at tsb.co.uk and through telephone banking.

Ways to open:

• In branch
• Online

To open, you must be:

• 16 or over; and
• A UK resident

Open with:

• £1 minimum opening balance
• Maximum subject to the annual ISA allowance (£20,000 for 2023/2024), plus transfers in from other existing ISAs
• No maximum limit on the amount that can be held within the account

Manage your account:

• In branch
• Over the phone
• Online
• Mobile app

Yes, withdrawals are allowed.

You can withdraw and replace money from your Save Well Limited Access ISA without it counting towards your yearly ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal.

Notice period: 
None

Withdrawal charges: 
If you make a withdrawal during the term of your Save Well Limited Access ISA, the interest rate applied to the balance for the whole calendar month in which your withdrawal is made, will be a lower rate of 0.49%/0.50% Tax free/AER (variable)

How to withdraw:

• Cash
• Bankers draft
• Transfer to a TSB current or savings account in your own name

(Fees may apply to some of these services, please see our Savings Account General Conditions for more information)

• Accounts can only be opened in a sole name.
• You can only pay into a cash ISA from one provider in each tax year.
• Opening a Save Well Limited Access ISA will limit the amount that can be invested in stocks and shares or innovative finance ISA. To find out more about this, speak to our Partners in your local branch or call us.
• The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
• If you aren't happy with your Save Well Limited Access ISA, you cancel within 14 days of opening without charge. You'll still be able to open another cash ISA account in the same tax year with us or another provider.
• You can also close your account after 14 days, but you won't be able to open or subscribe to a cash ISA with a different provider until the next tax year.
• If you chose to close the account before the end of the term, interest will be paid to the day before account closure. The interest rate will be the lower rate that is normally applied to months in which a withdrawal is made.
• At the end of your term, your account will convert to a Cash ISA Saver. We’ll contact you before this happens with your options to continue saving.

Rates and information correct as at 08/02/2024.