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Rate hikes show every little helps at Tesco Bank

Rate hikes show every little helps at Tesco Bank

Category: Savings

Updated: 31/03/2011
First Published: 31/03/2011

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 It is now over 6 months old so the content may be out of date.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 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.

Four out of five Moneyfacts stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.