Current Interest Rates
The tables below show the current interest rates on our Tesco savings accounts. Rate definitions.
- Gross is the interest rate paid before tax is deducted.
- Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
- Net is the interest rate paid after tax is deducted.
Internet Saver
Standard Rate
| All Balances | Gross/AER | Net |
|---|---|---|
| Standard Rate (variable) | 1.25% | 1.00% |
Standard rate effective from 23 April 2013.
Customers can check our previous introductory rates.
This website provides details of introductory interest rates that apply in the first 12 months after the account being opened. Customers who opened their account more than 12 months ago can telephone us on 0845 678 5678 to check their current interest rate.
Instant Access Savings
Monthly
| Saved amounts | Gross | AER | Net |
|---|---|---|---|
| £1+ | 0.75% | 0.75% | 0.60% |
| £10,000+ | 1.00% | 1.00% | 0.80% |
| £50,000+ | 1.24% | 1.25% | 0.99% |
Effective from 28 May 2009.
Annual
| Saved amounts | Gross/AER | Net |
|---|---|---|
| £1+ | 0.75% | 0.60% |
| £10,000+ | 1.00% | 0.80% |
| £50,000+ | 1.25% | 1.00% |
Effective from 28 May 2009.
Fixed Rate Saver
Interest Rate
| 2 Year Fixed Rate | AER | Gross | Net |
|---|---|---|---|
| Annual | 2.10% | 2.10% | 1.68% |
| Monthly | 2.10% | 2.08% | 1.66% |
| 3 Year Fixed Rate | AER | Gross | Net |
|---|---|---|---|
| Annual | 2.20% | 2.20% | 1.76% |
| Monthly | 2.20% | 2.18% | 1.74% |
Tesco Bank Fixed Rate Saver rates are subject to change and can be withdrawn or changed at any time. So call or go online now to secure this rate which is guaranteed for the full length of your chosen term.
Interest is calculated daily from the date we receive your deposit and can be paid to a separate account of your choice either monthly or annually. You can make one deposit of between £2,000 and £5m within 30 days of account opening. Once we receive your payment, withdrawals and early closures are not permitted. Interest is paid net of basic rate tax. Non-taxpayers need to complete an R85 form to receive Gross interest. Higher rate taxpayers may have to pay additional tax. Rates correct as at 16 April 2013.
Rate definitions.
Definitions
- Gross is the interest rate paid before tax is deducted.
- Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
Interest on this account is paid directly into a separate account of your choice and is therefore not compounded. - Net is the interest rate paid after tax is deducted.
Tesco Bank Fixed Rate Saver rates are subject to change and can be withdrawn at any time. Interest is calculated daily.
Cash ISAs
Instant Access Cash ISA
| Instant Access Cash ISA | Total Gross/AER |
|---|---|
| Interest Rate | 2.00% (variable) |
Interest is paid on the anniversary of the account opening.
Fixed Rate Cash ISA
| Fixed Rate Cash ISA | Gross/AER |
|---|---|
| Interest rate | 2.05% |
Interest is paid on the anniversary of the account opening.
Junior Cash ISA
| Junior Cash ISA | Gross/AER |
|---|---|
| Interest rate | 3.00% (variable) |
Interest is paid on the anniversary of the account opening.
ISA Standard Rate*
| ISA Standard Rate | Gross/AER |
|---|---|
| Interest rate | 2.00% (variable) |
Interest is paid on the anniversary of the account opening.
* This is the rate you will earn once a fixed rate or bonus period ends.
Lost or stolen cards?
If your card is lost or stolen call us immediately on:
0845 678 5678
Textphone:
0845 671 0672
Typetalk:
18001 0845 678 5678