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Advice and answers from the Tembo Team
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homesaver
What is the
HomeSaver
™?
That’s why we created
HomeSaver
™, a savings account that rewards first-time buyers, next time buyers
Who can open a
HomeSaver
™?
To open a Tembo
HomeSaver
™, you must be aged 18 or older and either: A resident of the UK; or
Can I close my
HomeSaver
™?
Yes - to close your
HomeSaver
™ initiate a full withdrawal via the app
How does the
HomeSaver
™ interest work?
Examples of using a
HomeSaver
™
How they use the
HomeSaver
™ Month 1: Ella opens a Tembo
HomeSaver
™ and starts saving £300 per… How they use the
HomeSaver
™ Month 1: Adam opens a
HomeSaver
™ and saves £400 a month… paid to the
HomeSaver
™ upon completion
How does the
HomeSaver
™ bonus work?
there and will be paid once your mortgage completes - so long as it’s within 3 years of funding your
HomeSaver
How do I fund my
HomeSaver
™?
Can I use both the LISA 1% offer and the
HomeSaver
™ bonus?
No, you’ll need to choose one offer per mortgage application—the LISA 1% or the
HomeSaver
™ bonus
Is the interest tax-free?
The
HomeSaver
™ isn’t an ISA, so the interest may be taxable depending on your circumstances and Personal… Do I need to pay tax on the interest earned from my Tembo
HomeSaver
™?… The
HomeSaver
™ is a general savings account, so it’s not held within an ISA wrapper
Where is my money kept?
Your
HomeSaver
™ funds are held on trust with one or more UK banks… Right now,
HomeSaver
™ money is deposited with Lloyds Bank Plc