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TSB Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

TSB Bank is a sensible pick for UK readers who want a fee free current account alongside borrowing and a balance transfer card. The current account carries a monthly fee of £0, the card's APR is 24.9% after the interest free period, and mortgages go to 90% loan to value.

Key facts

Best for
One UK provider for a free current account, personal loans and a balance transfer card.
Monthly fee
£0↗
Currency conversion fee
2.95%↗
Card type
Debit↗
Legal entity
TSB Bank plc↗
Headquarters
United Kingdom↗
Founded
2013↗
Support channels
Help-centre↗
Features
Same-day funding
Audience
Students, Kids
Official website
tsb.co.uk

Loans

APR
24.9%↗
Loan amount
£300 to £50,000↗
Term
3 to 84 months↗
Arrangement fee
0↗
Credit check
Hard↗
Funding time
Same day for existing TSB current account holders; by 7pm the next working day for other customers↗
Representative example
6.4% APR representative for personal loans between GBP 7,500 and GBP 25,000 over 1-5 years↗
Lender type
Direct lender↗
Free early repayment
No↗
Eligibility
Over 18 (over 21 to apply online), UK resident, employed or regular income, at least GBP 850 per month after tax, no recent CCJs, credit defaults or bankruptcies↗
Origination fee (%)
0%↗
Loan types
Personal, Debt-consolidation, Car, Student, BNPL↗
Credit needed
Good↗
Use cases
Home-improvement↗
Pricing model
No annual fee

Credit cards

Annual fee
£0↗
Rewards type
None↗
Balance transfer intro period
38 months↗
Balance transfer fee
3.49%↗
Card kind
Credit↗

Mortgages

Maximum loan to value
90%↗
Purpose
Purchase, Remortgage, First-time-buyer, Buy-to-let↗

Facts checked September 26, 2026, 15 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • The Spend and Save account has a monthly fee of £0, and TSB sits at 1 of 422 brands compared on that measure.
  • Personal loans cover £300 to £50,000 with an arrangement fee of 0 and a fee percentage of 0%, so nothing is added on top of the repayments.
  • Same day payout sits among the loan features (same day funding), and money reaches existing TSB current account holders on the day, while other customers wait for the next working day.
  • The balance transfer card holds an annual fee of £0 and an interest free period of 38 for clearing an old card balance.
  • Mortgages reach 90% loan to value, and the listed purposes include purchase, remortgage and first time buyer.

Cons

  • Free early repayment: no, so overpaying a personal loan is not cost free, while 79.4% of lenders in this ranking do offer it.
  • Currency conversion on the Platinum card costs 2.95%, well above the 1% median for cards here.
  • Support runs on help centre only, so a blocked payment is handled in writing rather than on a call.
  • Personal loan applications run a hard credit check and ask for good credit, which rules out a thinner credit file.
TSB Bank

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Scored 8.6 / 10 by SumCue.

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Who it suits

  • UK households who want a current account with a £0 monthly fee and a debit card for everyday spending.
  • Borrowers with good credit who need £300 to £50,000 over 3 to 84 and value an arrangement fee of 0.
  • People clearing an old card balance, since the interest free period runs 38.

Who should look elsewhere

  • Readers after a secured card rather than a balance transfer card: Varo Believe Secured Credit Card has a $0 monthly fee, while TSB's card charges 24.9% once the interest free period ends.
  • Anyone banking in euro: bunq's plan carries a €0 monthly fee, a different market from a UK current account.
  • Readers building credit in the US market: Chime Card (Secured Visa Credit Card) charges a $0 monthly fee, where TSB's borrowing costs 24.9%.

Rates and terms

Rates work in opposite ways across this brand. The balance transfer card introduces an interest free period of 38, then charges 24.9% once that window closes. Personal loans run the other way: you agree a rate for a term of 3 to 84, and a representative example is published for loans running over a few years. The card is a tool for shifting existing card debt and getting it out before interest starts, while the loan is for a cost you already know about, such as a car or a consolidation. Holding a balance on the card month to month is the expensive choice here, because 24.9% is far above the personal loan side of the same bank.

Fees and currency costs

The everyday account is the cheap part. The Spend and Save current account carries a monthly fee of £0, so holding it and using the card that comes with it costs nothing in the way of a standing charge. Foreign spending is where money leaks. The Platinum purchase card applies a currency conversion fee of 2.95% on purchases made outside the UK, added to whatever rate the card network gives that day. That single figure matters more than the monthly fee for anyone spending abroad, and it is the number to check before a trip rather than after it.

Using it day to day

The account runs on a debit card, so money leaves the balance you hold at the moment you spend rather than building into a bill at the end of the month. There is no borrowing period to remember and no interest to track, which suits someone who wants their bank balance to be the single picture of their spending. Support runs on help centre, so questions are handled in writing and answered when the bank gets to them, not by phone on the spot. A reader who prefers a written trail of every exchange will find that easier than one who needs an answer during a call.

Who runs it

The legal entity on the paperwork is TSB Bank plc, headquartered in the United Kingdom and trading since 2013. That is the name standing behind the balance, which matters to a reader who wants to know which institution holds the money. The same help centre listed for everyday use is the front door for account queries, so the organisation answering a question about a delayed payment is the one holding the account. For a household already banking with TSB, the practical result is that the current account, the loan and the card sit with one provider.

How TSB Bank compares

Where TSB Bank is available

Available
United Kingdom

Countries from the brand (Source, checked September 29, 2026)

Frequently asked questions

What does the TSB Spend and Save current account cost each month?+

The monthly fee on the Spend and Save current account is £0, so there is no standing charge for holding it. The card that comes with the account is a debit card, which draws straight from the balance you keep. A reader who stays in credit never pays a fee here, so the costs that do bite are the ones incurred while spending.

What does it cost to spend abroad on the card?+

The Platinum purchase card applies a currency conversion fee of 2.95% when you pay in a foreign currency, on top of whatever rate the card network gives that day. A week of holiday spending can therefore cost more than the local prices suggest. The monthly fee of £0 on the current account is the only other recurring cost in this account.

Is there an annual fee on the balance transfer card?+

The annual fee on the balance transfer card is £0, and the card is listed on a no annual fee basis, so a year of holding it adds nothing. The costs that come with the card are all tied to moving a balance: the 3.49% balance transfer fee, and the 24.9% rate that applies once the interest free period has run out.

How long is the interest free period and what rate follows?+

The balance transfer card offers an interest free period of 38, and that window is when the transferred balance costs nothing. Once it closes, the card's rate is 24.9%. That is a rate far above the personal loan side of the same bank, so the card earns its place by clearing old card debt quickly rather than by carrying a balance for months.

Can I repay a personal loan early without a charge?+

Free early repayment: no, so settling a personal loan before the agreed end is not a cost free move. The loan carries an arrangement fee of 0 and a fee percentage of 0%, and applications run a hard credit check. If you expect to overpay, weigh that before signing rather than after the money has already gone out.

How much can I borrow and over what term?+

Personal loans cover £300 to £50,000 over terms of 3 to 84, which stretches from a small debt consolidation to a large home improvement. The listed use cases include home improvement, and the loan types on offer are personal, debt consolidation and car. A reader borrowing for a car, a student loan or a consolidation works with the same amount range but pays a rate that depends on the term.

How quickly is a loan paid out?+

TSB lists same day funding among the loan features, and the payout speed depends on whether you already bank with the same provider. Money reaches you on the day for existing TSB current account holders, and by early evening on the next working day for other customers. The quickest route therefore runs through holding a current account with the bank.

Who can apply for a TSB personal loan?+

You need to be an adult, a UK resident, employed or have a regular income, with no recent court judgments, credit defaults or bankruptcies. The bank asks for good credit and runs a hard check, so the decision rests on your full credit file. Applications made online carry a higher minimum age than those made in branch.

Sources

And 1 more source page.

Compiled from 16 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Free ATM withdrawals, Protection.

TSB Bank

TSB Bank

One UK provider for a free current account, personal loans and a balance transfer card.

8.6/10See alternatives