Teachers Building Society

Teachers Building Society

35 day | GBP
  • FSCS protects deposits up to £85,000 per person

All offers from Teachers Building Society

3.92 % AER variable
35 day
4.70 % AER variable
90 day
2.58 % AER variable
Easy Access

About Teachers Building Society

Teachers Building Society was founded in 1966 by the National Union of Teachers (now the National Education Union) to help teachers and other education professionals onto the property ladder and provide a safe haven for their savings. Today, the Teachers Building Society offers a wide range of mortgage options to teaching professionals as well as a variety of competitive savings options which are available to all.

As a mutual organisation, Teachers Building Society is run solely for the benefit of their members, rather than shareholders. This means that instead of paying dividends to shareholders, they invest their profits back into the products and services they offer, ensuring that their mortgage and savings rates are as competitive as possible.

The FSCS protects deposits made into savings accounts offered by Teachers Building Society through our marketplace, and Teachers Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.

Bank details

Headquarters: Dorset
Year established: 1966

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.’ and vice versa.

Who is Raisin?

We are the UK savings marketplace for Raisin, one of Europe’s most successful technology-led financial services companies. We want to get Britain saving, so we connect savers with a range of banks and building societies offering deposit-protected savings accounts with competitive interest rates.

Using our savings marketplace is simple. By registering for a Raisin UK Account, you'll only ever need to fill in one application form. Then you can browse, apply for and fund a range of savings accounts, and manage everything under one roof. No paperwork or endless passwords to remember - just a free, easy way to grow your savings.