The Tembo Cash ISA is a great saving product for those who want a tax-efficient way to save towards their next big milestone, whether that's buying a house, funding an extension, planning a wedding or just building an emergency fund. You can save up to £20,000 each tax year into a Cash ISA without paying any tax on your interest earnings.
Here are the main benefits of the Tembo Cash ISA:
Benefit from our competitive rate of 4.6% AER (variable)
Earn 2.9 times more interest than if you were to save in any of the easy-access, instant Cash ISAs offered by the Big Four banks. That’s over £500 more in interest over 5 years!
Save with simple terms and no nasty surprises. Have complete control over your funds with unlimited, next-day withdrawals and £10 minimum balance. Plus, your rate won’t drop after 12 months, when you make multiple withdrawals or when your balance falls too low (unlike other providers).
Our award-winning savings app is built to help you reach your life milestones faster, including tips and guidance to help you shorten your saving timeframe!
See your house deposit or savings in one place across your Tembo Lifetime ISA and Tembo Cash ISA accounts.
As a Tembo savings customer, you’ll be entitled to fee-free mortgage and protection advice from our award-winning mortgage service - that’s a saving of up to £749!
Your funds are protected by the Financial Services Compensation Scheme up to £85,000
Your money is held securely with Bank of Scotland and Barclays. This means your cash is completely safe and belongs only to you, so even if we go bankrupt it can't be used by us or anyone else.
Get started by opening a Tembo Cash ISA 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 4.60% would have £510.52 on average more than saving with Barclays, HSBC, NatWest or Lloyds. Accurate March 2025.