Tesco 3% on £3k

Dave1979

Why is the Tesco current account not included in the best buys on this site. 3% on £3k guaranteed until 2019 with no min pay in and no need for any DDs. Plus you can open 2 per person.

sfry

Probably because they have suspended applications.

Dave1979

Didn't know that. I would imagine demand would have been crazy

Joe_Bloggs

What media events lead up to the suspension of Tesco Bank applications ?

The fact is that some banks don't want your money because they can get it cheaper elsewhere.

If you are left with the best publicized deal for savers, in the UK, then expect to be overwhelmed by an avalanche of money that needs to be used in suitable markets to make the promised interest rate.

I suspect that you may have to get in a queue for a LISA as if for a pop festival ticket, in this post Osbourne era.

J_B.

jimjames

Dave1979 wrote: »

Didn't know that. I would imagine demand would have been crazy

It's been available for almost 3 years so there would have been plenty of time to apply.

teddysmum

But the Martin Lewis tv show and other media announcements that they don't intend to cut the rate, at the moment, will have highlighted the deal.


Before they were one of a number , giving good offers, but the others have fallen behind.

KxMx

jimjames wrote: »

It's been available for almost 3 years so there would have been plenty of time to apply.

I believe the 3% guaranteed for 2 years was a new aspect offered by Tesco, hence why it suddenly got promoted everywhere.

bigadaj

Joe_Bloggs wrote: »

What media events lead up to the suspension of Tesco Bank applications ?

The fact is that some banks don't want your money because they can get it cheaper elsewhere.

If you are left with the best publicized deal for savers, in the UK, then expect to be overwhelmed by an avalanche of money that needs to be used in suitable markets to make the promised interest rate.

I suspect that you may have to get in a queue for a LISA as if for a pop festival ticket, in this post Osbourne era.

J_B.

Is that George or Ozzie?

jimjames

KxMx wrote: »

I believe the 3% guaranteed for 2 years was a new aspect offered by Tesco, hence why it suddenly got promoted everywhere.

Yes there was additional promotion but you'd have missed out on 3% over that time for something that has been widely discussed on MSE.

Biggles

bigadaj wrote: »

Is that George or Ozzie?

It can only be Ozzie, as George doesn't have a 'u' in his name.

beefturnmail

Anyone know when\if they're going to lift the suspension?