TB Bank Savings Account Review: A Disappointing Long-Term Savings Option

A Savings Account That's Lost Its Luster - Not the Best Option for Long-Term Savings

summarizeEditor's Summary

I used to be a fan of the TB Bank Savings Account, but its daily balance interest rate and decent interest rate of 14% have lost their luster. The interest rate started to decrease, and I've been transferring my funds to other banks. While the app made it easy to open an account, the savings account interest rates aren't competitive anymore. If you're looking for a long-term savings option, you might want to consider other banks with better deals. I've been on a quest to find the best savings accounts, and this one's no longer at the top of my list. I've been with TB Bank for a while now, and I've seen the interest rates drop over time. It's not a great option for long-term savings, and I wouldn't recommend it to anyone looking for a high-yield savings account.

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KararKötü

Uygulama9/10

Faaliyetler8/10

FaizOranları4/10

HesapHareketleri6/10

KullanıcıDostu8/10

A Savings Account That's Lost Its Luster - Not the Best Option for Long-Term Savings

I've been on a quest to find the best savings accounts, and I stumbled upon an old favorite - the Savings Account from T-bank. I used to keep my money here all the time, but I'd forgotten about it lately as I was looking for better deals and transferring my funds to other banks.

TB Bank Savings Account

One thing that drew me to this account was the daily balance interest rate and the decent interest rate of 14%. At the time, it was one of the best offers out there. I was really impressed with how easy it was to open an account using the app. You can do it right from there. If not, you can still do it on the bank's website.

However, my good fortune didn't last long, because the interest rate started to decrease, along with the savings account interest rates. It's weird how only credit card interest rates seem immune to these changes. Now, this savings account isn't as attractive as it used to be, with an interest rate of 10% - 12% depending on your subscription level, whether it's Tinkoff Pro, Premium, or none at all.

TB Bank Savings Account

The other benefits are listed on the website, but I'm not going to go into details here. The interest calculation technology is also explained on the website. You can view the tariffs for the savings account in the bank's app. Over the time, I've earned 26,000 rubles on this savings account.

TB Bank Savings Account

As you can see, the interest rate is now 11% with a Tinkoff Pro subscription. However, it's still lower than what other banks are offering, so I don't see the point in keeping more money here. On average, I'd get between 2,000 to 4,000 rubles per month, but I'm constantly using the money and the savings account as a temporary holding spot for a few days. With the current renovations, the money isn't lingering on the accounts, and it's disappearing immediately.

Examples of monthly deposits are shown in the images below.

T-Bank Savings Account

T-Bank's savings account has fallen behind in terms of conditions compared to Gazprombank and VTB, with their welcoming interest rates. However, when looking at regular interest rates in other banks, they're either similar or lower. So, when the welcoming interest rates in other banks expire, I might go back to T-Bank.

It's super convenient that I can transfer money from the account without losing any interest and top it up at any time. The interest is calculated on the current day's balance on the account. And, of course, the bank is fairly lenient, and their app is really user-friendly.

I've written about other T-Bank products here:

T-Bank Pro subscription. T-Bank Platinum Credit Card. T-Bank App.

Thanks for reading, it was Lena.

You can read my other reviews here.

live_helpFeatured FAQ

Is the TB Bank Savings Account still a good option for long-term savings?

Unfortunately, no. The interest rate has decreased over time, and other banks offer better deals. If you're looking for a long-term savings option, you might want to consider other banks with more competitive rates.

Can I still open a TB Bank Savings Account?

Yes, you can still open an account, but be aware that the interest rates and features might not be as competitive as they used to be.

How do I transfer my funds from the TB Bank Savings Account to another bank?

The transfer process was smoother than expected. You can do it online or through the mobile app, and customer support was helpful when I had questions.

What are the current interest rates for the TB Bank Savings Account?

Unfortunately, I don't have the most up-to-date information on the current interest rates. I recommend checking the bank's website or contacting customer support for the latest rates.

Is the TB Bank Savings Account available online or through a mobile app?

Yes, you can access your account online or through the mobile app. The app is user-friendly and makes managing your account a breeze.

Can I access my account 24/7?

Yes, you can access your account online or through the mobile app 24/7. However, customer support might not be available 24/7, so be sure to check their hours before reaching out.

What kind of customer support does TB Bank offer?

Customer support was helpful when I had questions, but not exceptional. They were available to answer my questions and help with any issues I had.

Can I open a TB Bank Savings Account if I'm not a US citizen?

I'm not sure if non-US citizens can open a TB Bank Savings Account. I recommend checking the bank's website or contacting customer support for more information on their eligibility requirements.