This comparison simply includes all savings accounts.
Tesco Instant Access Savings Accounts
Why we like it: No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Tax free ISA account. Open with £1 or transfer in existing ISA funds. Invest up to £20,000 per tax year. Interest can be paid into account, alternative Nationwide savings or current account, or an external current account. Must be UK resident and aged 16 or older. Headline interest rate applicable if no more than 1 withdrawal per account year, fFor 2 or more withdrawals the interest rate drops to 0.50% AER. FSCS Protected
Why we like it: Unlimited withdrawals subject to 30 days notice.
Why we like it: Earn 1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest.
Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.
Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.
Tesco Instant Access Savings Accounts
Tesco are widely known for their success in retail, but they also provide business and personal banking services. They have a range of accounts available with flexible access to your money, including high interest instant access savings accounts.
Tesco Instant Access Savings Account
If you need a flexible savings account that can provide competitive interest rates and instant access to your savings, you may want to consider the Tesco Instant Access Savings account.
This high interest account allows you to make a deposit whenever you want and gives you the ability to withdraw a substantial amount of your savings per day. It also gives you access to some of the best monthly interest that high street banks have to offer.
It is important to note that Tesco Instant Access Savings account does have the following withdrawal limits:
- Telephone: You can withdraw all of your money over the phone
- Online: £10,000 to non-Tesco Bank accounts in the UK and £100,000 by making internal transfers to other Tesco Bank accounts in your own name
- In-store: £500
- ATM: £300
The account has many attributes, which makes it well suited to students, young professionals, over 50s, those looking towards retirement and retired individuals. There is no age restriction to open a Tesco Instant Access account, which makes it a perfect savings account for over 60s.
- Competitive interest rates
- Open an account with just £1
- No maximum balance
- Unlimited withdrawals
- Easy saver rates
- Manage your accounts instantaneously with online access
Review our table above to compare the Tesco savings account with other instant access high street savings accounts.
Quick online application setup from Tesco
With UK savings rates at an all time low you need to take action to ensure your savings are getting the best interest deal possible.
The savings accounts currently available in the UK do not provide interest high enough to counter the effect of inflation or even match it. This means that peoples’ savings are eroding in real terms. This is because the savings accounts’ interest rates are based on the Bank of England’s base rate. We can help you compare a selection of some of the best interest paying accounts.
For savers looking to access their money regularly, a good instant access savings account will offer flexible withdrawal facilities while combining these with a good rate of interest.
See here for a comparison of leading UK instant access accounts