Savings: Good news for savers as bank offers ‘top-up’ interest rate | Personal Finance | Finance

Savers are consistently on the hunt for the best deals and the easiest ways to grow their money. Many will therefore be delighted by the news another bank has taken steps to hike its interest rates.

Tandem Bank has announced an increase to its instant savings account rate to a market-leading 3.20 percent.

This increase in Tandem’s Top Up rate includes a 0.35 percent increase on top of its 2.85 percent underlying rate.

The Instant Access Savings Account has a variable rate, so it may not stay at this rate forever.

If the bank did decide to increase the rate, it may change this with immediate effect and notify savers after the fact.

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He said: “This latest Top Up rate increase on our instant access savings account is another example of how we are continuing to deliver a leading proposition for our savers.

“We are also investing in green lending projects and initiatives right across the country.”

The bank’s commitment to sustainability and green lending has been a major factor in its success, as more and more customers look for ways to support environmentally friendly initiatives. 

Tandem Bank’s efforts have not gone unnoticed, with the bank frequently featuring in the best buy tables and being named Best App-Based Savings Provider.

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Customers looking for a competitive savings account with a green focus will find Tandem Bank’s offerings hard to beat. 

The bank’s commitment to green lending and sustainability, combined with its market-leading rates, make it an attractive choice.

This is especially the case for savers looking to make a positive, greener impact while securing a financial future. 

There are certain eligibility criteria to bear in mind for those interested in this account.

They must be at least 18 years old, and a UK resident for tax purposes, with a current address in the UK.

The saver must also own a UK based current account, held in their name.

Withdrawals from this account can only be made by moving money into one’s UK-based current account, but Britons can save up to £250,000.

Savers can also rest easy, as Tandem is an FSCS-regulated bank.

This means all savings up to £85,000 are protected should the worst happen.

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