Internet Saver
No restrictions on the number of withdrawals and no hidden charges.
The rate shown includes 1.5% bonus interest on balances up to £100,000 for 12 months when you open an Internet Saver Account.
The bonus will be paid on balances up to £100,000. Accounts with balances above this will receive the standard underlying rate (currently 4.50% Gross/AER) on the amount above £100,000. Only one account per person is eligible for the bonus.
As of the 7th October the government increased the compensation limit covered by the Financial Service Compensation Scheme for deposits to £50,000 (£100,000 for joint accounts).
You will have instant access to your funds and there are no restrictions on the number of withdrawals you can make.
Minimum opening balance of just £1
Online servicing means you can access your account 24 hours a day 7 days a week - anywhere you have access to the internet. You can check your balance, set up payments and transfer money.
Set up a Direct Debit to make regular payments into your account and watch your savings grow.
Quick and easy to apply
Note that you must be over 18 to open an Internet Saver Account.
Our interest rates With our Internet Saver Account you can earn 1.5% bonus interest on balances up to £100,000 for 12 months - giving you an excellent rate of up to 6.00% Gross / AER. Interest on our Internet Saver account is paid annually in March.
|
All balances |
|
|
Gross |
6.00% |
|
AER |
6.00% |
|
Net |
4.80% |
Rates correct as at 27th November 2008
Gross
Annual Equivalent Rate (AER)
Net
is the interest rate paid after the deduction of tax illustrates what the interest rate would be if paid and compounded each year is the interest rate paid before deduction of taxRates quoted for Internet Saver consist of a 12 month introductory bonus of 1.5% Gross / AER above the standard rate for new accounts.
Tesco Internet Saver Account rates are subject to change. Interest is calculated on a daily basis and is paid annually. Interest will be paid the last business day in March.
Non-tax payers
Please note, if your interest is paid gross, you will be required to fill in an inland revenue R85 form.
Managing your Internet Saver
You will be able to access your account 24 hours a day, seven days a week online.
Depositing Money
You can pay money into your account by:
Bank transfer
Direct Debit / Standing Order
Withdrawing Money
You can withdraw your money at any time. This will have to be transferred to a nominated account.
Withdrawals can only be requested by using the Online Service.