Savings Interest Rates, Switch Offers and Guides for Tandem Bank

Who they are

Tandem launched in 2014 as one of the UK's original digital challenger banks, built around simple savings and mortgage products. A pivotal moment came in 2018: the acquisition of Harrods Bank gave Tandem its banking licence, and the bank has been growing through acquisitions ever since. A merger with responsible lender Oplo cemented Tandem's identity as a greener, digital bank for all.

Tandem operates as a specialist savings and lending provider rather than a full-service current account bank, with its main focus on helping customers save through app-based accounts and Cash ISAs, while also supporting borrowing linked to homes, vehicles, and greener lifestyle choices. When you save with Tandem, your deposits help support greener lending - things like solar panels and low-emission vehicles. There are no branches, and Tandem does not currently offer current accounts, so it works best sitting alongside your main bank rather than replacing it.

Savings accounts

Tandem keeps its savings range focused and straightforward. On the easy access side, the Instant Access Saver currently pays 3.40% AER - but it is worth knowing that this includes a 0.25% boost for the first 12 months, with a base rate of 3.15% underneath. Set a reminder before that 12 months is up so you can review your options.

For tax-free savings, Tandem offers three Cash ISAs. The Instant Access Cash ISA pays 4.00% AER (variable), though again an introductory bonus is baked into that figure and the rate will revert to the standard variable rate after 12 months. If you are happy to fix, the 1 Year Fixed Rate Cash ISA pays 4.67% AER and the 2 Year Fixed Rate Cash ISA pays 4.74% AER - both locked until maturity with no access in between. A Fixed Term Saver (non-ISA) rounds things out at 4.50% AER for one year, though this one requires a minimum of £1,000 to open. All other accounts start from just £1.

All accounts carry FSCS protection. Your savings are protected up to £120,000 by the FSCS - so in the unlikely event of Tandem facing difficulties, the scheme will compensate you up to that limit.

Is it right for you?

Tandem is a strong specialist option for savers who want competitive app-based savings products, Cash ISAs, and FSCS protection without the complexity of a full current account app - its biggest strengths being its focused savings range, tax-free ISA options, green finance positioning, and simple app-based management. The app is more focused than feature-packed - it does not include current account tools such as card controls, spending categories, or budgeting analytics, but its strength is simplicity: managing savings without unnecessary clutter.

There are no switch offers currently listed for Tandem. The bonus rates on the easy access accounts are genuine but temporary, so always check when yours expires. As ever, the live rates shown on this page reflect what Tandem is offering right now - rates can and do change, so it is worth comparing them before you decide.