The Top Easy Access Savings Discussion Area

ColdIron

You only get this if you opened the Tesco Internet Saver that was on offer in the first part of December 2021. The interest is made up of the Tesco Standard Interest Rate (0.10% at the time) and the Bonus Interest Rate (0.59% at the time). Since the BoE increased rates by 0.15% mid December, Tesco said they would increase their standard rate by 0.15% to 0.25% which with the bonus brings it up 0.84%

The reason I bring it up is that it was part of an ongoing discussion further up in the thread

ColdIron

[Post removed by Billycock]

Far from it. Sea_Shell is correct, you would need a time machine to get it if you had not opened the account when it was on offer

Billycock

Okay, thanks for explaining.

dc_scotland

The Tesco Instant Cash Isa rate has also increased from 0.60% to 0.75% for existing customers.  But for new customers, the rate seems to have dropped to 0.40%.

murphydavid

Warning Cynical comment.

Just say that 0.35% of £10,000 is £35 a year.

So 0.4% to 0.75% (wow its almost doubled) but for most individuals 65 pence a week is not really high on the drama scale.
Although with a bank having many customers and trying to attract more it will no doubt be useful from the banks point of view to always quote percentages rather than real money.
Next we will see them saying we have moved from .6% to .6195%. People like long numbers with nines and fives - as is often seen Not £50 but reduced to £49.95 brings in the customers.
It all starts when your dad gives you £5 worth of pennies in a big black bag when trying to teach you that a £5 note is just the same except the pennies look and feel good but in the end are just more work.
Its all the same sort of thing IMO.

GalacticaActual

Yorkshire Building Society are increasing the rate on the majority of their variable rate savings accounts by 0.10% on 1st February 2022:

GalacticaActual

Skipton Building Society are changing some of their off-sale variable account interest rates from the 1st February 2022 - PDF list below:

https://www.skipton.co.uk/-/media/skipton-co-uk/pdf/savings/Changes%20to%20Variable%20Accounts.ashx?la=en-GB&hash=8EE21BD4B2444AE1B836120D78A7FD8B

Nick_C

Thanks for the above.

Yorkshire BS have made a similar announcement;

 https://www.ybs.co.uk/boe-rate-change/index.html

Following the Bank of England increasing the base rate on 16 December 2021, we are increasing the rate on the majority of our variable savings accounts by 0.10% on 1 February 2022. We will update this site in due course with the complete range of savings products and the new rates applied

typistretired

I opened the Rainy day saver with YBS the other day at 52% be nice if that increases too. Not a word from Marcus about increase in savings rate

RG2015

typistretired said:

I opened the Rainy day saver with YBS the other day at 52% be nice if that increases too. Not a word from Marcus about increase in savings rate

52 bps maybe?