Tuesday, July 24, 2007

Earn 6.75%!!!

Tesco high interest savings account

If you've got a spare 50K Kicking about earn 6.75% with tesco but hurry the offer closes on 14/8/07. The rate includes a 1% bonus for the first 6 months so you'll have to move some where else in six months but there'll be even better rates then and possible house price deflation resulting in even more yield when you pick up a bargain repo in 2010. Landlord - it beats BTL yield!

Posted by cheeky charlie @ 03:14 PM (1790 views)
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3 thoughts on “Earn 6.75%!!!

  • tyrellcorporation says:

    …Does this sound a bit fishy to you guys? I hate accountants with their weasel words!!! What’s to stop them having a totally shite rate in six months time but you’re tied in for another year if you want to get your cash?

    How do I get my bonus?
    Simply open an Instant Access Savings Account between 20th June 2007 and 14th August 2007 and you will receive an extra 1% gross interest on your funds for the first 6 months after the account is opened. Please note that the introductory bonus only applies on balances of £100,000 or less.

    When will my interest be paid?
    Your bonus will be calculated on the daily cleared funds held in your account for the first 6 months your account is open. It will be applied to your account as part of your total interest earned at the next interest payment date following the end of the bonus period.

    For accounts where interest is paid annually this will be the last business day of April. For accounts where interest is paid monthly this will be the last business day of the month in which the bonus period ends.

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  • Cheeky Charlie,

    Where does it say 6.75%? According to the Tesco website the current AER for £50K – £100K savings is 6%, which already includes the 1% bonus up to 14 August. Please check your numbers!

    Maybe you are looking at the 6.5% GROSS interest and adding an expected 0.25% interest rate rise? You need to compare savings account interest using the AER rates not the gross rates.

    Sainsbury’s Bank will still beat this from 1 August, with 6.25% AER.

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  • Aha, so you get the bonus only if you hold money in the account past the honeymoon period.

    I’ll stick with my 6.20% guaranteed to be above base rate with icesave.

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