Tesco savings

jenz

I have all my money with high street bank and not getting a particular good rate of interest. I am considering putting it into a Tesco savings account for a better rate of interest for a few months till I get my finances sorted out.

My concerns is are my savings going to be safe with a supermarket
bank (after the northern rock scare).......... would welcome your views on this.

Crabman

The weekly updated Best Savings Account Article has Bradford and Bingley as the top paying savings account (instant access) at 6.4%. If you're concerned about safety, have a look at the new article:

Are your savings safe? Save up to £315,000 at top rates in perfect safety.

As long as there's no more than £35,000 in each [STRIKE]account[/STRIKE] non-linked institution (see the colour table in the article), it's all guaranteed in the very very unlikely event a bank goes under

(edited to correct major boo boo - above )

jenz

Many thanks for quick reply and all the great information I needed, I had spent ages looking round board for that info!

Nick_C

Jenz, if you can tie any of it up for 6 months or more, consider putting some in a fixed rate account/bond. Lots of great deals around right now. See http://www.fsa.gov.uk/tables for current rates/availability