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New top bonds from Tesco Bank

New top bonds from Tesco Bank

Category: Savings
Date: 21/08/2013

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 It is now over 6 months old so the content may be out of date.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 bucked the trend by increasing the rates on selected fixed accounts as well as launching competitive one, four and five-year options.

The basics…

Rates have increased on the two and three-year options of Fixed Rate Saver accounts by 2.05% and 2.30% per year respectively. Monthly options are available paying 2.03% for two years of 2.28% for three years.

Tesco Bank has also launched a one year Fixed Rate Saver paying 1.75% yearly, or 1.74% monthly; a four year version paying 2.65% yearly, or 2.62% monthly, and a five year option paying 2.95% yearly or 2.91% monthly.

The finer details….

For all options, savers must invest a minimum of £2,000.

The account can be operated over the telephone or online.

Early access or further additions will not be permitted.

Why we like it….

This fixed rate savings review sees Tesco Bank extending its portfolio with the launch of one, four and five-year options, whilst also increasing the three-year rate by 0.10% to 2.30%.

The four and five-year Fixed Rate Saver accounts now pay the top rates for their respective terms, so should prove popular with savers looking to invest long term.

Four out of five Moneyfacts Stars have been awarded.

What Next?

Find the best savings rates

Compare 2 year Fixed Rate Bonds

Compare 3 year Fixed Rate Bonds

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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