Tembo ISA rates increase to 4.6%
As of 4th March 2025, we’ve increased the interest rate on our Cash Lifetime ISA and Cash ISA from 4.55% to 4.6% AER (variable). This means not only are our ISA rates above the Bank of England’s base rate, but over 5 years our savers will earn hundreds more in interest vs saving with competitors. If you’ve got a Cash ISA or Lifetime ISA with another provider, this increase could be a welcome change if you’ve seen your current rate drop and are considering switching.
Open an ISA savings account with us today
Earn hundreds more in interest with a Tembo Lifetime ISA or Cash ISA with our competitive 4.6% AER interest rates (variable).
When considering opening a LISA, remember that withdrawals for any purpose other than buying a first home or for retirement will incur a 25% government penalty, meaning you may get back less than you paid in.
What impact does this have?
For our Cash Lifetime ISA savers, with our new market-leading 4.6% AER (variable) interest rate you’ll save over £800 more in interest vs saving with the closest competitor on the market. That means at the end of 5 years, by maxing out your Tembo Lifetime ISA you’d have saved up a house deposit of £33,776! Plus, if you’re buying with someone else, you can use our Team Up feature to see what you’ve got saved up together.
As always at Tembo, this new rate isn't an introductory rate - meaning there's no drop-off after 12 months!
Already got a Lifetime ISA? Start your transfer in 5 minutes today
For our Cash ISA customers, this rate increase means you’ll earn even more interest vs saving with one of the UK’s biggest four banks - 2.9x more interest in fact! Around 75% of savers hold their savings with their main current account provider, despite high-street banks typically offering much lower interest rates. By saving with Tembo, you’d get over £500 more added to your savings over 5 years if you were to save £100 per month.
When does the rate increase come into effect?
The new interest rates came into effect on Tuesday 4th March 2025 for all existing and new Tembo customers. Once you're signed up to Tembo, your interest will be calculated daily and then applied monthly, landing straight into your account which you can see in the Tembo app.
What makes the Tembo Lifetime ISA so great?
As well as offering the market-leading Cash Lifetime ISA and a competitive Cash ISA, Tembo is rated ‘Excellent’ on Trustpilot, and is trusted by thousands of savers. As well as a savings provider, we also specialise in making home happen as the UK’s Best Mortgage Broker (as voted by our customers three years running). As a Tembo saver, you’ll get access not only to tools to get you mortgage ready but also fee-free access when you're ready to buy or remortgage through our award-winning mortgage service.
Our team aren’t just normal mortgage advisors - we’re specialists in helping people get on the ladder, often against the odds. On average, our customers increase their buying power by £88,000! Not to mention you’ll also get your own dedicated mortgage team, free property insight reports to supercharge your property search, and access to our panel of experts including tried & tested conveyancers and surveyors.
Who is Tembo?
Tembo is an award-winning savings and mortgage platform on a mission to help people buy their first home, offering a one-stop shop for customers to save their house deposit and get advice on their first home purchase.
Start your journey with Tembo today
Open an account with just £1 or transfer a Cash ISA or Lifetime ISA to us. Download our app today.
