Internet Saver Account
What's in it for me? The key benefits...
- Competitive rate of up to 1.40% Gross/AER (variable). Includes 0.65% bonus for 12 months on all balances up to £1 million.
- Instant access to your funds (please note there are daily limits on withdrawals).
- Online Banking - Manage your account online.
- Open your account with just £1!
What do I need to apply?
To complete an Internet Saver application you'll need to:
- Know your bank account details
- Be 18 years of age or over
- Be a UK resident only
If you can answer yes to all of the above then why not apply online now?
Manage your Internet Saver...
You'll be able to access your savings account seven days a week online. No sitting in call queues or waiting for the bank to open...
Deposit money the fast way...
You can pay money into your Internet Saver by:
Withdraw money at any time...
Withdrawals from the Internet Saver account should be made via our Online Banking service.
Please note: for security reasons the Internet Saver has daily withdrawal limits.
Faster Payments are fully supported by Tesco Savings, but the other Bank or Building Society will also need to use the Faster Payment system for a payment to be made using this method. We're unable to accept CHAPS payments.
A BACS transfer is an electronic transfer from another Bank Account.
Our interest rates
|Balances £1 to £1 million||Gross/AER||Net|
|Standard Interest Rate||0.75%||0.60%|
|Bonus Interest rate||0.65%||0.52%|
|Rate (including Bonus Interest rate)||1.40%||1.12%|
Interest is calculated daily. Standard Rate Interest is paid to you annually in March and Bonus Interest is paid to you at the end of the Bonus Period. Bonus Interest is earned on balances up to £1 million. Balances above £1 million earn our Standard Interest Rate on the amount above £1 million. At the end of the Bonus Period the rate will revert to the Standard Interest Rate. The bonus offer may be withdrawn or changed without notice.
Rates correct at 16 September 2014. 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.
Tesco Internet Saver account rates are subject to change. Interest is calculated daily and is paid annually. Interest will be paid the last business day in March.
Our interest rates are variable and subject to change. 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.
Free bank account guide from The Money Advice Service
The Money Advice Service has impartial information and tools to help you with your money.
For more information log on to the Money Advice Service web site or call 0300 500 5000 (call rate may vary).