Easy access saver gets rate rise | Product News - Moneyfacts

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Easy access saver gets rate rise

Easy access saver gets rate rise

Category: Savings
Date: 21/11/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Tesco Bank has reviewed its savings offerings and amended fixed rates by 0.20%. The bank has also added 0.05% to its no notice saver, boosting its place in the Moneyfacts charts.


The basics…

Internet Saver now has a highly competitive rate of 1.40% yearly, including a 0.65% bonus for 12 months.

Meanwhile, the one-year Fixed Rate Saver has a yearly rate of 1.70% (1.69% monthly) and its four-year equivalent has a rate of 2.55% per annum (2.52% monthly). The five-year version has a yearly rate of 2.80% (2.76% monthly).


The finer details…

The Internet Saver can be opened and managed online with a minimum deposit of just £1. Further additions are welcome and unlimited withdrawals can be made at any time through a nominated account.

The fixed rate accounts can be opened and operated by phone or online with an initial investment of £2,000. Like some other fixed rate accounts, no further additions are permitted. Early access is also not allowed, so investors must be comfortable with the length of their chosen term.


Why we like them…

The Internet Saver was already a Moneyfacts best buy, but this latest rate increase has pushed it higher it the charts. The small initial investment and the ability to access funds at any time are definite bonuses and will appeal to investors who are uncertain about locking funds away.

Four Moneyfacts Stars have been awarded.

What Next?

Compare the best fixed rate bonds in our best buy charts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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