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Tesco’s improved easy access account now 2nd place

Tesco’s improved easy access account now 2nd place

Category: Savings
Date: 19/01/2018

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 It is now over 6 months old so the content may be out of date.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 increased the rate on its easy access account by 0.10%, which sees it sit just behind the market-leader and advance into the number two spot of the Best Buy chart for its sector, earning it a high Moneyfacts rating as well.

The basics…

The Internet Saver now boasts a near market-leading variable rate of 1.30%, including a 0.75% bonus for the first 12 months on amounts between £1 and £1 million. Interest is paid yearly and must be compounded.

The finer details…

This online-only account requires a minimum investment of just £1. Unlimited additions and withdrawals are allowed, though there's a daily withdrawal limit of £10,000 to non-Tesco Bank accounts in the UK and £100,000 to Tesco Bank accounts in the account holder's name. Note that the bonus interest will be added at the end of the bonus term, separately from the annual interest, and that the inclusion of this bonus means a review of the account would be wise after 12 months.

Why we like it…

The highly competitive rate on this deal easily earns it the number two spot in the Best Buys and a high rating.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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