A Cash ISA stands for a Cash Individual Savings Account. This is a special savings account that lets you save up to £20,000 each tax year free from Income Tax. If you save your money in a normal savings account, you may end up paying tax if the amount you earn in interest exceeds your personal savings allowance (PSA).
Cash ISAs often offer higher interest rates than you would get with a regular savings account.
Our HomeSaver takes it one step further by allowing you to unlock a market-leading interest rate when you save into a HomeSaver Cash ISA and go on to use Tembo’s fee-free mortgage service.
Part of your interest is paid each month and your bonus interest is unlocked if you complete your mortgage (or remortgage) through Tembo. This will be paid into your HomeSaver Cash ISA, on top of your underlying rate after 12 months, even if you complete sooner than this.
When the time comes, our expert mortgage advisors will help you find the right mortgage from 100+ lenders. And you’ll be in trusted hands: Tembo has been voted the UK’s Best Mortgage Broker five years running.
Until then, enjoy the flexibility you’d expect from an easy access Cash ISA, with unlimited withdrawals, that don’t impact your interest rate.