Right now, when you save into a Tembo Cash Lifetime ISA, or our Cash ISA the interest rate is 4.55% a year, which could go up or down in the future (in finance jargon, that’s 4.55% AER variable).
This is currently the market-leading interest rate for the Cash Lifetime ISA, excluding introductory periods. This means over 5-years, you'll save hundreds more versus the next best product on the market from any of our competitors.
When did the rate last change?
We increased the rate on our savings products three times in a row from February 2024 onward, eventually increasing it to 4.8% AER (variable) on 14th January 2025 against a backdrop of Bank of England base rate cuts.
On 18th February 2025, we cut our interest rate by 25pbs, from 4.8% to 4.55% following the Bank of England's third consecutive base rate cut in 6-months to 4.5%. This new rate of interest applies to all your funds held in a Cash Lifetime ISA or Cash ISA from 18th February 2025 onward.