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A UK lender is offering its customers a high return on their savings, along with additional bonuses. UK mortgage broker Tembo is offering customers 4.75% on up to £20,000 in savings. The high-interest account highlighted by MoneySavingExpert pays interest monthly and even comes with an extra bonus.

Customers can open a Tembo HomeSaver account via the lender's app with a minimum deposit of £10 and save up to £20,000. The account pays a 3% variable rate, with interest paid monthly.

An additional bonus is available to savers who keep the account open for at least 12 months. These customers will receive a 1.75% fixed bonus, paid at the end of the 12-month period.

This account also pays an additional 1% 12-month fixed bonus, but only to account holders who complete a mortgage or remortgage through Tembo's mortgage advice service in their first three years.

Interest is earned daily for 12 months and then paid if you complete a mortgage within three years of opening the account.

Customers will miss out on the bonus if they withdraw more than three times a year or if their deposit drops below £1,000 after the first year.

The account is covered by the Financial Services Compensation Scheme (FSCS), as customer funds are held in a "client money" account with Lloyds Bank.

Eligible deposits are protected up to £120,000 per person, per financial institution. However, this limit applies to all accounts held with Lloyds Bank. This means any money you already have with Lloyds - such as in a current account or savings account - will count towards the same £120,000 protection limit.

Anything held above this combined amount would not be covered under the scheme.

Customers can open an account with the lender by downloading its app.