Tembo Review: £15-£250 Sign-Up Bonus

Tembo is a UK-based financial platform established in 2020, specialising in mortgage solutions and competitive savings products. Their offerings are particularly tailored to assist first-time buyers and those facing challenges in securing traditional mortgages.

Services Offered by Tembo:

• Mortgage Solutions: Tembo provides a range of mortgage options, including:

  • Income Boost: Allows family members to contribute to a buyer's income, enhancing mortgage affordability.

  • Deposit Boost: Enables family members to release equity from their property to help fund a deposit.

  • Access to over 100 lenders, ensuring clients receive tailored mortgage solutions.

• Savings Products: Tembo offers competitive savings accounts to help individuals grow their funds:

  • Lifetime ISA: Designed for first-time buyers, offering a 4.55% AER (variable) interest rate to accelerate deposit savings.

  • Cash ISA: Provides a 4.55% AER (variable) interest rate, allowing up to £20,000 in tax-free savings annually.

Tembo has exceptional customer reviews:

• Trustpilot: Holds a 4.9 out of 5 rating based on over 1,100 reviews, with customers praising their personalised service and efficient processes.

• Smart Money People: Achieved an average score of 4.97 out of 5 from 1,609 product reviews, indicating high customer satisfaction.

Sign-Up Bonus Details:

New customers can earn a bonus ranging from £15 to £250 by following these steps:

1. Registration: Sign up here using your email and claim the reward. Ensure you use the same email when creating an account via the app.

2. Account Funding: Open and fund a Cash ISA with a minimum of £500 within 30 days of account opening.

3. Bonus Allocation: Bonuses are distributed based on the following probabilities:

   • £15: 77%

   • £25: 15%

   • £50: 5%

   • £100: 2%

   • £250: 1%

4. Bonus Disbursement: The bonus is credited within 30 days of completing the sign-up process.

5. Withdrawal: Both the bonus and initial deposit can be withdrawn once the bonus is received.

Payout Timeliness and Conditions:

Bonuses are paid during the next interest cycle after the referred customer's cancellation period has expired. The interest cycle runs on the 8th working day of the month following the month in which the qualifying funds are received. For instance, if a deposit is made on January 31st, the bonus would be credited on the 8th working day of March. In our experience, we received the bonus within 2 weeks of signing up and depositing £500.

Opportunities to Maximise Earnings:

To enhance your earnings with Tembo:

• Referral Program: Invite friends to join Tembo. Both you and your referral can earn matching bonuses ranging from £15 to £250 upon successful account funding.

• Competitive Interest Rates: Utilise Tembo's 4.55% AER (variable) interest rate on Cash ISAs to grow your savings efficiently.