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Glossary   >   T   >   "TESSA" Definition            TESSA Tax-Exempt Special Savings Accounts (TESSAs) are five-year savings accounts that do not incur tax charges on the interest paid. It has not been possible to open a new TESSA account since April 1999. However, TESSAs in existence before that date can continue up to the end of their 5-year term. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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TESSA \ Tax-Exempt Special Savings Accounts (TESSAs) are five-year savings accounts that do not incur tax charges on the interest paid. It has not been possible to open a new TESSA account since April 1999. However, TESSAs in existence before that date can continue up to the end of their 5-year term.