Tesco Bank has increased the rates of interest paid on its one and two year fixed rate savings accounts.
Its one year fixed rate account now pays a rate of 3.40% (+0.15%), while its two year counterpart pays 3.85% (+0.20%).
Monthly options have also increased. All other terms and conditions remain unchanged.
At 3.40%, the one year bond is now equal to the market leaders and improves its position within the short term market.
The two year offering paying 3.85% moves into the top five medium term products.
As with many bonds, funds have to be committed for the full term as there is no flexibility for withdrawals during the terms.
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