Tesco Bank Internet Savings

Hominu

Anyone know how I can find out my current interest rate for this account? I'm going to assume its 2.6% (opened last October), but I can't seem to find that figure anywhere. They certainly don't make it easy to find.

Is it possible to deposit funds via FP? I only opened it for the DDs, but now it looks like an attractive savings account if the interest is still the same.

innovate

Old rates: http://www.tescobank.com/personal/finance/savings/savingsaccounts/previous-interest-rates.html


Current rates:
http://www.tescobank.com/personal/finance/savings/savingsaccounts/interest-rates.html

innovate

How do I pay money into my Internet Saver
http://faq.tescobank.com/help/savings/internetSaverAcc/pay_money_in

marathonic

The website doesn't seem to include the bonuses included in the quoted past rates. I've an instant access ISA at their standard 2.00% in addition to a bonus of 0.3% for a year.

When I log in, I click on 'Manage' beside the account name (INSTANT ACCESS ISA). I then see a transaction list and another link with the same account name. When I click the account name on this page, I see a box to the right giving the account name, sort code, number and interest rate (among other things). Mine is correctly displaying 2.3% here.

Hominu

innovate wrote: »

Old rates: http://www.tescobank.com/personal/finance/savings/savingsaccounts/previous-interest-rates.html

Thanks, I think that means I'll be getting 1.35% + 1.25% which will get me 2.6%

Whats confusing is that it says "effective from 23 April 2013.", but the previous interest rate says "Effective between 16/04/09 and 27/05/09" and I can't find any later dates on that page. So I'm only guessing the rate for last year is the same.

Why can't I just login to my account and see the current effective interest rate, why must they make it so damn confusing!

marathonic wrote: »

When I log in, I click on 'Manage' beside the account name (INSTANT ACCESS ISA). I then see a transaction list and another link with the same account name. When I click the account name on this page, I see a box to the right giving the account name, sort code, number and interest rate (among other things). Mine is correctly displaying 2.3% here.

I'll try that. Thanks!

pqrdef

It's a slippery one. They never bothered with issue numbers, so the interest rates were always dependent on what date you opened the account, if you could remember when that was.

But also, when your bonus was about to expire, if they liked you, they would send you a letter offering another 12 months bonus, maybe at the same rate, or maybe less, which might be more or less than the current rate for new customers. And if they didn't like you, they didn't, so no more bonus.

pqrdef

marathonic wrote: »

I see a box to the right giving the account name, sort code, number and interest rate (among other things). Mine is correctly displaying 2.3% here.

I don't get that. It shows me today's date where the interest rate ought to be. I think it's ashamed of the interest rate.

At any rate, if by any chance I'm under the illusion that I'm still getting 2.6%, they aren't going to disillusion me. (No letter when the bonus dropped off either).

VT82

I opened mine on 20th Sept 12, at which point it was advertised as 2.6%. Also done for DD's (handy for all three Vantages), but might get a look in as an actual savings account between my Santander e-Saver maturity in June and 20th Sept 13.

I couldn't see the interest rate on my Tesco internet savings either.

Gromitt

IGNORE ME - I figured it out. Isn't it just typical after you've just posted?

How does the interest work on this account, I can't seem to find it on their site (maybe because they have withdrawn the bonus rate for new accounts)

I mean, I recently got a statement from Tesco saying I've earned a whopping 4p interest (3p after tax), but after calculating it myself, I get 9p (8p after tax).

So it seems like they are paying me 1.25% (their standard rate). Do we get the bonus rate on a different date to the normal rate? Despite the above, I don't see my full interest rate anywhere, but since I opened it in October last year, I should be getting 1.25% + 1.35%.

SVR is paid monthly or annually, bonus is paid annually at the end of the bonus period.

badger09

Glad you were able to sort yourself out Gromitt