Tesco Internet Saver rate down to .4% on 8th November

Yorkshire_Pud

More good news, not, Slim Pickens at it again.

Just noticed that Tesco on their savings page for Internet Saver are reducing the variable interest currently 0.75%, going down to 0.4% on November 8th 2016.

Of course there is the initial 12 month bonus currently 0.32% but that would still only leave a rate of 0.72% after 8th.

chelseablue

I'm only 33 but I remember opening a savings account in the early 2000's that paid 6%


How times change

djpailo

chelseablue wrote: »

I'm only 33 but I remember opening a savings account in the early 2000's that paid 6%


How times change

There are still a few regular savers at 6%. Better open them soon.

Mr_K

A lot of these banks are delaying the interest rate cut for a few months. At first I though it was generous but on selection they're being very cynical. Not cutting now makes people think they needn't do anything, and in a few months many will have forgotten....

Glad I renewed my Index Linked Saving certificates, which I was 50/50 about. Particularly as RPI has increased to 1.9%.

talexuser

Mine is still showing 1.6%, but is finished at the end of September so it would have been time to shift anyway - but there might not be anything much better to shift to in instant access.

badger09

Yorkshire_Pud wrote: »

More good news, not, Slim Pickens at it again.

Just noticed that Tesco on their savings page for Internet Saver are reducing the variable interest currently 0.75%, going down to 0.4% on November 8th 2016.

Of course there is the initial 12 month bonus currently 0.32% but that would still only leave a rate of 0.72% after 8th.

0.4% of the diddly squat I keep in my Tesco Savers is a gnat's tadger less than the 0.75% I'm getting on it at the moment, so I won't be losing any sleep over this:cool:.

However, if they decide to change the account funding method:eek::eek:

FOREVER21

Yorkshire_Pud wrote: »

More good news, not, Slim Pickens at it again.

Just noticed that Tesco on their savings page for Internet Saver are reducing the variable interest currently 0.75%, going down to 0.4% on November 8th 2016.

Of course there is the initial 12 month bonus currently 0.32% but that would still only leave a rate of 0.72% after 8th.

Well thanks for that news! First reduction in my Coventry easy access, then Santander, and now my Tesco savers, which I have just set up to comply with the new requirements for Bank of Scotland interest.

It just needs, TSB and Lloyds to drop their rates and it's back to the drawing board for me, I am getting really fed up having to chase around opening / closing accounts, for only small interest rates.

firefox1956

Stuff it all under your mattress then...& have the pleasure of counting it now & then !!!!!

AndyPK

When I have received an email from a bank this last fortnight, I can guess its likely to be a drop in the interest rate!

Eco_Miser

FOREVER21 wrote: »

now my Tesco savers, which I have just set up to comply with the new requirements for Bank of Scotland interest.

So you were not really interested in the interest rate, just the ability to create DDs.

FOREVER21 wrote: »

It just needs, TSB and Lloyds to drop their rates and it's back to the drawing board for me, I am getting really fed up having to chase around opening / closing accounts, for only small interest rates.

Those two probably will be dropping, but I wouldn't describe their current rates as 'small', and their future rate are likely to still be among the best available, though we will have to wait and see.

hoc

chelseablue wrote: »

I'm only 33 but I remember opening a savings account in the early 2000's that paid 6%


How times change

Early 2000s? The instant saver I had opened with Lloyds in 2007 gave 5.5%.