Tesco Internet Saver

apt

On their website Tesco finance have announced that they are reducing interest on all their savings accounts by 0.5% on 27 November. So Tesco Internet Saver accounts with the 1.5% 12 month bonus will now get 6.0% interest. I take this as quite good news for savers - showing that rates are still sticky. Yes they've passed on the first base rate cut but they've taken their time about it, and will probably not pass on the 1.5% quickly or necessarily in full.

Milarky

And the fact that they are giving 2 weeks prior notice of a rate change, too - it puts all those other institutions who take the full 30 days allowed in the 'we-wrote-it-ourselves' Banking Code to shame doesn't it?

isofa

Just a pity it takes almost a month to set-up the account from first applying to all the forms back and form to then finally ordering and receiving a card reader

Still I agree, it's still a competitive rate and the notice of change is good.

ray123

Sainsburys bank was 5% yesterday and is 3.5% today!!!
It is very sneeky of these institutions... Well done Tesco, the only annoying thing is that I still cant access my account as they want my signature for the third time?
I do predict that the tesco savings rate will be cut again in couple of months so would advise anyone who does not need access to their money to lock it in a fixed term a/c.

anna42hmr

i will say thats one thing they have been good at

didnt realise the sainsburys one has dropped that low, most of my money will definatly go to the tesco one for the time being!