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Tesco 6.75% account
BBD
Posts: 17 Forumite
Can some explain the interest rate to me as on the boards here it says you can get 6.75aer% but Teco's link seems to say the highest is 5.75%aer
http://www.tescofinance.com/personal/finance/savings/savings/interestrates.html
or am I reading something wrong, thanks
http://www.tescofinance.com/personal/finance/savings/savings/interestrates.html
or am I reading something wrong, thanks
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Where is on the boards? I want to know as well.0
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I found this, which states that the highest rate is 6.5% (for £50k) as of 20 June 2007. I guess they have not yet included the recent BofE 0.25% increase in their rates?In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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It does seem that the top rate is 5.5%, topped up with the introductory bonus of 1% to 6.5% max, as opposed to 5.75% topped up to the 6.75% mentioned in the article. Still a good rate, but not quite as good as the MSE link suggested.0
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Note:
[FONT=arial,helvetica,sans-serif]These new rates will apply from 15 August.[/FONT]
So the MSE article is correct. 5.50% currently + 1% bonus + 0.25% increase from 15th August."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
Is it worth setting up for 6 months?Noobie (not so
) trying to make loads a dosh - please bear with all my questions :beer: Thanks 0 -
The_Fiddler wrote: »Is it worth setting up for 6 months?
It depends how much money you are putting in. If you had £200,000 then over 6 months you will be getting 0.5% more than Sainsbury's (for example). This would equate to just about £500. The cost of moving the money could be 2 CHAPS transfers (assuming in a savings account which has to go via a current account) plus maybe 1 day's interest....so maybe £100 in total max. So you make £400 more... then you need to transfer the money out assuming that Tesco rates are not the best after 6 months so another £100 max. You still make £300. Tempting. You need to do the sums for whatever amount you have.
EDIT : Just seen that you can only put £100K in so probably not worth the hassle for me. £250 gained over 6 months but over £100 in CHAPs fees and lost interest moving it.0 -
This rate is only available from today August 15.
Beware if you want to manage your account on-line. It has taken me 4 weeks to try and register and still without success. Anybody else experiencing the same delays?0 -
Yes - I am sick of signing and returning those slips to them only to be told they haven't got it yet.This rate is only available from today August 15.
Beware if you want to manage your account on-line. It has taken me 4 weeks to try and register and still without success. Anybody else experiencing the same delays?Dream of being mortgage free....
APR 2007 - £109,825 FEB 2012 - £98,664.53:beer:0 -
I applied before the 14 August deadline for the 1% bonus but my account was only opened on 17 August. I called up Tesco banking and was told that due to the large volume of applications for the instant savings account, the 1% bonus would apply to all accounts opened before the end of August.
Can anyone else confirm?0
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