Can anyone help me??

lauren1983

Hi,

PLease forgive me if i sound realy stupid but im getting more confused by the minute with my savings account. Im with A&L e-saver http://www.alliance-leicester.co.uk/savings/esaver.aspx?ct=jan09rfshomepagemiddle but have been told that the tesco internet saver http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp is better!

I keep reading but im getting no where. We have £19k to invest but im worried that its not worth moving it over and loosing interest for the month. But like i say i have no clue

Any help would be great

Thank you
Lauren

Lokolo

Well the rate of Tesco is 2% higher than A&L. And A&L is 4%. So after 2 months you would make the money back that you have lost. Then everything onwards is extra profit.

However the rates are variable so Tesco could reduce theirs by 2% and you would have just lost out on a months interest.

knights

lauren1983 wrote: »

Hi,

PLease forgive me if i sound realy stupid but im getting more confused by the minute with my savings account. Im with A&L e-saver http://www.alliance-leicester.co.uk/savings/esaver.aspx?ct=jan09rfshomepagemiddle but have been told that the tesco internet saver http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp is better!

I keep reading but im getting no where. We have £19k to invest but im worried that its not worth moving it over and loosing interest for the month. But like i say i have no clue

Any help would be great

Thank you
Lauren

Tesco reducing to 5.1% this Thursday 8th January

knights

Lokolo wrote: »

However the rates are variable so Tesco could reduce theirs by 2% and you would have just lost out on a months interest.

So are A & L, at least with Tesco you can access your money without penalty.

Its all a gamble because we don't know if either of these organisations will reduce their saving rates as the BBR reduces and if they do by how much!

anselld

If it helps you decide, I think Tesco are planning to reduce to 5.1% this week.
If you really want to move can you not just close on the first of the month without loss, other than the time taken to transfer?