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 4.8% AER (variable) - the best underlying rate on the market!
Earn 3 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 withdrawals and £10 minimum balance. 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).
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 money is held securely with our trusted partner banks; Bank of Scotland, Barclays, 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. 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.
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 4.80% would have £550.14 on average more than saving with Barclays, HSBC, NatWest or Lloyds. Accurate April 2025.