A Cash ISA is a great solution for savvy savers who want a tax-efficient way to save towards their next big life goal, whether that's a home purchase, a renovation, a wedding or just a rainy day. You can save up to £20,000 each tax year into a Cash ISA without paying any tax on your interest earnings.
But what's so special about ours?
1️⃣ The interest rate
Thanks to our competitive interest rate, with the Tembo Cash ISA you'll earn 4.8% AER (variable) on your savings. That's the best underlying rate available on the market, and 3x more interest than if you were to save in any of the easy-access, instant Cash ISAs offered by the Big Four banks.
Plus, your rate won’t drop just because you've been with us 12 months, when you make multiple withdrawals or when your balance falls too low (unlike other providers).
2️⃣ Easy access to your funds
Have complete control over your funds with unlimited easy access withdrawals. Plus, if you initiate a withdrawal before 2pm on a working day, we will typically process that withdrawal the same day!
For withdrawals initiated after 2pm or on a non-working day, these are usually processed the following working day. However, please be aware that a withdrawal can take up to 3 business days to be processed.
3️⃣ The ultimate first-time buyer package
If you’re using a Lifetime ISA to save up for your first home, a Cash ISA can be a useful place to save the other costs associated with buying, like stamp duty, legal costs, and furniture. Because you can't save toward these costs with a LISA.
With a Tembo Cash ISA, you’ll enjoy our 4.8% AER (variable) interest rate and be able to see all your funds in one place. And, you'll also get access to our award-winning mortgage service, totally fee-free.
4️⃣ Your money is safe & secure
At Tembo, we use well-known national banks to hold customers' funds. So your money is always held securely with our trusted partners; Barclays, Bank of Scotland, Aldermore Bank and Shawbrook Bank. This means that if Tembo were to cease operating, your funds are protected.
Our partner banks are also FSCS-protected, which means that if one of these banks were to go into default, your money would be protected up to £85,000 per eligible person, per bank. So by partnering with more than one bank, we aim to diversify and help manage your risk, so you can benefit from over £200,000 in FSCS-protection spread across the banks we work with.
Learn more here.
Tax treatment depends on individual circumstances and may be subject to change in the future.
*Based on saving £100 at the beginning of each month for 5-years. Calculations show at month 61 (after 5-years) Tembo customers saving at 4.80% would have £550.14 on average more than saving with Barclays, HSBC, NatWest or Lloyds. Accurate April 2025.
Must be 18-39 to open a LISA. Can only be used for first home purchase or retirement. Ineligible withdrawals may return less than paid in.