Tesco Bank has reviewed its easy access account and made a marginal rate reduction. However, the account has retained its competitive edge and held firmly onto a position among the top 10 for its sector.
Internet Saver now pays a competitive rate of 1.35% yearly, including a 0.60% bonus for 12 months.
This internet-operated account can be opened with a minimum deposit of just £1.
Further additions are welcomed, and unlimited penalty-free withdrawals can be made. Withdrawals under £10,000 are made via a nominated account while withdrawals above this sum can be made over the phone.
Despite the small reduction, this account still boats a competitive rate that is sure to reel in investors. The small size of the initial investment required gives the account a broad-based appeal, as does the opportunity to have unlimited access to funds. However, the introductory bonus means that the competitiveness of this account should be reviewed in one year's time when the bonus expires.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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