Tandem bank rewards savings customers with Top Up launch

By Gloria Methri

Tandem Bank, the UK’s green digital bank, has launched an interest rate top-up for its instant access savings accounts. Under the new Top Up, customers can apply the rate to their instant access savings account – adding an increased rate that will apply for 12 months.

AER or Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. This allows customers to compare easily what return they can expect from their savings over time.

Ben Mitchell, Director of Savings at Tandem Bank, said, “At Tandem, we are constantly looking at ways to ensure our customers are rewarded and have access to some of the most competitive savings products in the market. By introducing our savings Top Up, we can reward our customers and ensure they are receiving a great rate on their hard-earned savings.

“We have made it simple for our customers to Top Up their current instant access interest rate and will be in touch with customers to provide them a link to the Tandem App to apply or apply the rate on the phone. Before the Top Up period comes to an end, we will be in touch in plenty of time to let them know.”

Applying the Top Up does not change the underlying Instant Access Savings Account and customers will still have instant access to their money. Once their Top Up period comes to an end, if there’s a Top Up being offered at the time, customers will be able to add the new Top Up to their account.

Tandem Bank offers a range of savings products, including instant access and 1-, 2-, 3- and 5-year fixed rate offerings, all of which are competitively priced and regularly feature in the best buy tables.