Money News
Tesco is increasing the rate on its Internet Saver savings account to 6.25% Gross/ AER for new customers - the account may be opened with a deposit of just £1. The rate includes a bonus of 1.50% AER. After the first 12 months the bonus period ends and the account will revert to a flat rate of 4.75% AER.
The bonus will be paid on balances up to £100,000. Accounts with balances above this will receive the standard underlying rate (currently 4.75% Gross/AER) on the amount above £100,000. Only one account per person is eligible for the bonus.
Jeremy Sutton, Head of Savings and Investments at Tesco said, "Everyone is feeling the pinch caused by the current market conditions, so its great to be able to offer customers a little extra to help towards their savings."
30 May 2008 © Moneyextra.com
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