Tesco interest question

NotRichAtAll

As above just opened up a tesco account 2 weeks ago the 3% interest account bunged £100 to open it with the intention of filling it to 3k over the next couple of weeks.

when is interest paid, end of month or anniversary of account opening date?
would they actually pay any interest on the £100 currently in there?

thanks

alternate

anniversary and yes they will pay interest on any balance up to 3K

Ballard

You'll get almost a penny a day interest on £100. Don't spend it all at once.

mistakehappens

Hi

i have a tesco current account and the 3% interest is paid monthly and not on the anniversary of the account.

SallySunshine

Yes, monthly just like Santander Current Account.
Just opened one in August and had first interest added.

moneysavinggirl40

Per month, last interest went in on 19th Aug.

NotRichAtAll

You'll get almost a penny a day interest on £100. Don't spend it all at once.

thanks for doin the math penny a day is better than zilch

seems some conflicting answers as to the interest payment date......just have to wait and see be a nice surprise when i get my pennys lol

Kim_13

It's the day after the date in the month that it was opened that the interest will appear. It will be backdated to the monthversary though.

YorkshireBoy

NotRichAtAll wrote: »

seems some conflicting answers as to the interest payment date......just have to wait and see be a nice surprise when i get my pennys lol

You could always read the 'rates and fees' leaflet or the FAQ...both of which are available on their website.

NotRichAtAll

YorkshireBoy wrote: »

You could always read the 'rates and fees' leaflet or the FAQ...both of which are available on their website.

Indeed i could of but i thought i would post here instead after all its what a forum is for, to help each other.................................i love replies like yours above they are so black and white no messing bland lets hope you don't work in customer services :beer:

YorkshireBoy

NotRichAtAll wrote: »

Indeed i could of but i thought i would post here instead after all its what a forum is for, to help each other.................................i love replies like yours above they are so black and white no messing bland lets hope you don't work in customer services :beer:

You said yourself there were 'conflicting answers' Crikey, one poster didn't even understand the question! That's what you get on a public forum. Black and white is always best and that's why I suggested reading the provider's information.