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Tesco Bank: CD Rates & Fixed Deposits (2026)

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Sarah Jenkins, CFP

Lead Personal Finance Analyst

October 28th, 2026

Tesco Bank CD Rates & Fixed Deposits Ratings Breakdown

Overall 7.4 / 10

Overall composite rating across rates, fees, service, digital banking, and rewards.

Interest Rates & APY 7.5 / 10

The bank consistently offers solid, near-market-leading rates on its fixed-term savings accounts, though top-tier rates from specialist digital challenger banks frequently edge it out.

Fees & Minimums 7.8 / 10

Account opening typically requires a standard and accessible minimum deposit of £2,000, with straightforward fee structures and standard penalties for early closure where permitted.

Customer Service 7.1 / 10

Customer service options include reliable UK-based phone support and online resources, though wait times can fluctuate and operational transitions have caused occasional friction.

Mobile App & Digital Banking 7.6 / 10

The mobile app and online banking platforms are user-friendly, stable, and convenient for tracking fixed savings balances alongside other Tesco products.

Rewards & Perks 6.8 / 10

While Tesco Bank is famous for Clubcard integration on credit cards and everyday banking, fixed deposit products offer minimal direct cross-promotional retail rewards or bonus points.

When evaluating Tesco Bank for CD Rates & Fixed Deposits, our financial analysts examined interest rates, annual and monthly fees, customer satisfaction scores, and digital banking tools.

Tesco Bank serves more than 5 million UK customers with straightforward credit cards, personal loans, and online savings accounts integrated with the Tesco Clubcard loyalty program. Cardholders collect Clubcard points on both Tesco and everyday spending while benefiting from competitive 0% purchase and balance transfer offers.