Tesco fresh fixed rate saver pays 2.95 per cent over one year and 3.5 per cent over two years. The interest rate is plausibly competitive.
The best thing about this account is that it is Tesco Bank’s first new offering since it was separated out from RBS two years ago. The next step is for Tesco to shift towards current accounts and mortgages, which should shake up the market. This account will not make a huge bang, but could be useful if you have savings elsewhere with less income. Nonetheless, over one year you could get 3 per cent at Northern Rock and over two years the Halifax pays 3.55 per cent.
WHAT ARE THE BENEFITS?
It is essential that you opt the right savings product for your necessities – with a Fixed Rate Saver account you will profit from a higher rate but there are no withdrawals allowed so you will not be able to access it until the end of your chosen term.
HOW TO OPEN AN ACCOUNT?
It can be opened simply over phone, with a debit card. The account provides an extent of elasticity with interest paid monthly, annually or at the end of the term. Lowest balance is £2,000. With rates assumed to increase in sometime, the interest might look less competitive than it does now, but cash must be locked away for one or two years.
Tesco fixed rate saver is too good! And I really mean it. With its amazing rates and services, it has made my money matters so cool!!
ever since I made a fixed rate saver account with Tesco, my life has become like super nice. Everything here is just too good to be believable
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