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Good3.9(82 ratings)

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Reviewed by: psalmody

I found being able to pay into this account in-store incredibly useful - no extra journeys or post charges. It...

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Does Tesco Bank provide your savings account?

Tell us what you think of them because it will help others.

Compare Tesco Bank Savings

This comparison includes savings accounts for this company.

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Most popular

  • Most popular
  • Minimum opening amount
  • Highest interest rate
Tesco Bank Internet Saver
Account type
Easy access
Open with
£1
Interest rate
1.27% AER variable inc. 0.52% fixed bonus for 12 months
Protection scheme
FSCS
Tesco Bank 5 Year Fixed Rate Saver
Account type
Fixed rate bond
Open with
£2,000
Interest rate
2.1% AER fixed for 5 years
Protection scheme
FSCS
Tesco Bank 1 Year Fixed Rate Saver
Account type
Fixed rate bond
Open with
£2,000
Interest rate
1.4% AER fixed for 1 year
Protection scheme
-
Tesco Bank 3 Year Fixed Rate Saver
Account type
Fixed rate bond
Open with
£2,000
Interest rate
1.9% AER fixed for 3 years
Protection scheme
FSCS
Tesco Bank Fixed Rate Cash ISA
Account type
Cash ISA
Open with
£1
Interest rate
1.16% AER fixed for 1 year
Protection scheme
-

Tesco Bank savings reviews

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Does Tesco Bank provide your savings account?

Tell us what you think of them because it will help others.

19/11/14

Recommended

A very useful account

I found being able to pay into this account in-store incredibly useful - no extra journeys or post charges. It has been a very usable account. The interest has been up and down but still better than many bank accounts. It is easy to get transfers in and out of the bank via telephone banking. I haven't had any problems on the whole and I have been an account holder since the bank opened.

Sometimes I have had to wait in store for an appropriate member of staff to be at the service desk, but on the whole the account has been easy to manage and use.

In store convenience

More difficult to no notice transfer large amounts

3
Satisfactory
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

02/11/14

Recommended

Fair interest rates

Interest rates have stayed competitive but would still check as bonuses have come and gone as with most savings accounts.

It was easy to set up the account and on the phone customer services are very good. It is easy to manage the account on their website. However, there is no cash card so you have to be organised and transfer money when you need it.

Interest rates

No cash card

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

25/11/14

Recommended

Pretty average - relatively user friendly.

I took out this savings account because at the time it offered the best (but still dismal) interest rates.

It's fine. Not really remarkable in any way. Easy access to savings and average rates of interest. Annual statements provided by post which is good, not all online savings accounts do. The website is fine and reasonably user friendly.

3
Satisfactory
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

28/10/14

Recommended

Allows direct debit payments in

One of the few accounts that allow funding via direct debit, so I can set it and forget it. Excellent for regular saving. The downside is that Tesco security is ridiculously over the top, and it is easy to get locked out of your account necessitating a phone call. This starts with failing to recognise the computer (because in this day and age, people clear cookies regularly or get the browser to do it for them). However, customer service is excellent when needed.

Direct debit payments, competitive interest

Easy to get locked out of online

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

16/10/14

Tesco Bank Savings account

Tesco offered a better rate of interest than others. It was very easy to set up the account and I have had no problems with it.

Having said that I have not really had much activity on the account. I am a little worried that in their present poor financial situation Tesco bank may decide to appropriate the funds in their accounts to help plug the hole of £250 million that their poor management has left them with. On the other hand, any losses will be covered by the government so maybe nothing to worry about.

Easy to set up and good interest rate

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

Does Tesco Bank provide your savings account?

Tell us what you think of them because it will help others.