NEW Tesco Current Account - 3% on £3,000

polymaff

badger09 wrote: »

Many regular savers do require you to fund them by SO from a linked current account with the same bank.

So..... you simply fund that current account, from the Tesco current account, rather than leave £250/£300/£500 earning no interest while waiting to go into the regular saver;)

Exactly - although the depressing point is that £300 kept in a Tesco account for, say, half a month gets you 37p before tax. :(:(

Oh for the bad old days of 17% savings rates.

Steve_xx

polymaff wrote: »

Oh for the bad old days of 17% savings rates.

......and inflation to match!

badger09

polymaff wrote: »

Exactly - although the depressing point is that £300 kept in a Tesco account for, say, half a month gets you 37p before tax. :(:(

Oh for the bad old days of 17% savings rates.

Every little helps:p:rotfl:

polymaff

Steve_xx wrote: »

......and inflation to match!

Knew someone would give that response. At the time that I was getting that rate, RPI was never more than 6%.

Who would say no to RPI plus more than 10% today?

jimjames

polymaff wrote: »

Exactly - although the depressing point is that £300 kept in a Tesco account for, say, half a month gets you 37p before tax. :(:(
.

That's probably still 30p more than most cash ISAs.

polymaff wrote: »

Knew someone would give that response. At the time that I was getting that rate, RPI was never more than 6%.

Who would say no to RPI plus more than 10% today?

You can easily get that on £300 with a couple of current accounts using Halifax. £1000 would get you 12.5%. As of April £300 at 5% = £15 plus £60 Halifax = £75 which is 25%.

polymaff

jimjames wrote: »

You can easily get that on £300 with a couple of current accounts using Halifax. £1000 would get you 12.5%. As of April £300 at 5% = £15 plus £60 Halifax = £75 which is 25%.

A false comparisom, Jim. You are describing non-deposit-based payments. You might as well have said £75 on £1 is 7,500% p.a. The point being discussed was that of interest received - and how paltry the returns are now compared to that RPI +++ rate I received in the bad old days (FYI about 15 years ago from the Leeds & Holbeck).