The Top Easy Access Savings Discussion Area

Section62

vernon said:

wiseonesomeofthetime said:

Tesco Bank Internet Saver 

Now dropped to 0.49%, including a 0.39% bonus for 12 months

What the heck are Tesco playing at!

Possibly related to all remaining Tesco current accounts being closed down on 30/11?  An outflow of cash creating a short-term need for some additional retail deposits to cover off the withdrawn balances... which offering a nice juicy 0.69% IS rate would have done. Job done, the rate offered on new IS accounts can go back down, pending application of BoE rise on all accounts... after which the new 0.49% rate will end up being roughly what the IS rate was to start with. [/speculation]

soulsaver

Bank of England Base Rate Change - Tesco Bank Community

where_are_we said:

The .84% rate has not been published. But if you go on TescoBank website - Home page - click "Community" - scroll down to "latest news" - click on latest topic "Bank of England Rate Change". The .84% rate from 11/1/22 is what is implied if you have a .69% Internet Saver (not now available).

LondonSouth556

Tipton account maturing, just got an email and was able to select an option in the app to get the money and close the account.

I-LOV-MONEY

I have been busy recently, and it looks as if I have missed the Tesco rate.  Are there any others still around that is paying a 'decent' rate of interest?  Maybe it will be best to see if any institution increases their rates because of the Bank Rate rise?

Nick_C

I-LOV-MONEY said:

I have been busy recently, and it looks as if I have missed the Tesco rate.  Are there any others still around that is paying a 'decent' rate of interest?  Maybe it will be best to see if any institution increases their rates because of the Bank Rate rise?

I've been looking around for an instant access savings account for a friend who wants a savings account with a week known name. They were slow to act and missed out on Tesco by a couple of days.

They have gone with Skipton's Flexible Tracker ISA. It pays 0.35% + BOE Base Rate, so currently 0.6%

https://www.skipton.co.uk/savings/isas/online-cash-isa-tracker

Suitable for anyone who hasn't already funded an ISA this year, and is looking for a safe place for up to £20k.  Withdrawals can be redeposited up to the £20k limit.

Not the best available rate, but good for a well known brand. 

Nick_C

Deleted_User said:

I-LOV-MONEY said:

I have been busy recently, and it looks as if I have missed the Tesco rate.  Are there any others still around that is paying a 'decent' rate of interest?  Maybe it will be best to see if any institution increases their rates because of the Bank Rate rise?

You will have read about the rumour of a possible Tesco .84% rate coming in the New Year. Meanwhile I suggest you consider taking a regular peep for best rates here:

https://moneyfacts.co.uk/savings-accounts/easy-access-savings-accounts/

Why would Tesco offer 0.84pc on a new saver when they have just reduced the rate from 0.7 to 0.5?

I think you may have misinterpreted the preceding posts.

Tesco had a variable rate account paying 0.69 before the rise in the BOEBR.  This account should now increase to 0.84pc.  But it is no longer available to open. 

Edited to fix the gobbledegook

I-LOV-MONEY

Maybe it is a mis-type, but what is an "e Jimmy" ?

djpailo

Many of the banks have commented about the mortgages changes/rises but only two have written back about the savings increases. 

https://www.moneysavingexpert.com/news/2021/12/bank-of-england-base-rate-rises/

RG2015

LDeleted_User said:

Nick_C said:

Deleted_User said:

I-LOV-MONEY said:

I have been busy recently, and it looks as if I have missed the Tesco rate.  Are there any others still around that is paying a 'decent' rate of interest?  Maybe it will be best to see if any institution increases their rates because of the Bank Rate rise?

You will have read about the rumour of a possible Tesco .84% rate coming in the New Year. Meanwhile I suggest you consider taking a regular peep for best rates here:

https://moneyfacts.co.uk/savings-accounts/easy-access-savings-accounts/

Why would Tesco offer 0.84pc on a e Jimmy when they have just reduced the taste from 0.7 to 0.5?

I think you may have misinterpreted the preceding posts.

Tesco had a variable rate account paying 0.69 before the rise in the BOEBR.  This account should now increase to 0.84pc.  But it is no longer available to open. 

As I said in my post, there was a rumour (note the word rumour!) about a possible 0 .84% rate, but we'll have to wait for Tesco's update in the New Year for the reality of what is being offered and to whom. Tesco evidently regard their ups and downs as "every little helps".

It’s not a rumour. There is an earlier version of the Tesco bank internet saver that offered a basic rate of 0.10% plus a bonus of 0.59%.

From 11 Jan 2022, their basic rate in increasing to 0.25%, hence those who opened the account in September will get 0.84% from 11 Jan 22 to September 2022.

Correction. As per ColdIron, the 0.69% was available from 3/12/21 to 16/12/21, hence the 0.84% total rate will run from 11 Jan 2022 to December 2022.

ColdIron

The 0.69% Internet Saver ran from 03/12/2021 – 16/12/2021. You godda be quick these days