Tesco Fixed Rate ISA
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- Term: 1 Year
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 90 days lost interest
- Term: 1 Year
- Invest From: £100
Interest paid at maturity. ISA transfers also allowed in. Tax free interest. FSCS Protected. Must be UK resident and be aged 16 or older. No withdrawals permitted. Closure permitted with 60 days’ loss of interest
- Term: 2 Years
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 180 days lost interest
- Term: 1 Year, with option to make three free withdrawals
- Invest From: £1
Make up to three withdrawals during the 12-month term of this account. Tax free ISA account. Open with £1 or transfer in existing ISA funds. Invest up to £20,000 per tax year. Manage your account online. Interest paid at maturity. FSCS Protected. Must be UK resident and aged 16 or older. Make more than three withdrawals and the rate drops to 2.15% AER/gross p.a. (variable). Not available in branch
- Term: 2 Years
- Invest From: £1,000
ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdraw cash early if you need to (subject to loss of interest)
- Term: 3 Years
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 240 days lost interest
Review of Tesco Fixed Rate Cash ISA
Tax-free saving and guaranteed interest rate for a fixed term, Tesco offer a number of savings options for their customers with one of the highest rate of interest on the market. Check our tables for interest rate comparison.
History
Tesco Bank is a British retail bank which began in 1997, and which has been completely owned by Tesco plc since 2008. Tesco offers a range of insurance, credit cards, loans, savings, mortgages and travel products, and launched a current account in June 2014.
A unique selling point of Tesco’s banking products is that the bank is able to use its large customer base to cross-sell financial services products, meaning customers can accumulate Tesco Clubcard points when they purchase finance products. Tesco Bank came third in the British Bank Awards, with an average customer satisfaction of 87.8%.
Fixed Rate Cash ISA
If you want to make a lump sum deposit and leave your money to grow tax-free then Tesco’s fixed rate cash ISA is a great option. In the first 30 days you can pay in up to £20,000.
Features:
- Your interest rate guaranteed for one year – you can’t withdraw any money during this fixed term unless you close the account and pay a fee
- You can manage your money with online and telephone banking
- You can transfer your existing ISA as long as it’s within 30 days.
This ISA is a great option if you’re able to tie up your money for a year due to its high interest rate and ability to manage your account online. Being part of the Tesco Bank group also means you get lots of clubcard savings points and offers, which is very useful if you shop at Tesco.
Why use a Fixed Rate ISA?
Typically, a fixed-rate Isa account will pay more interest. In exchange for a higher rate, banks will ask you to tie up your cash. Generally, the longer you give up access, the higher the return. As it is a guaranteed amount, you know what you will end up with at the end which makes it a lot safer than investing.
ISAs are a good idea whatever your savings goal. With certain types of cash ISAs, you have instant access to your money, which makes it a flexible way to plan your finances.
It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance. This means you could save over £30,000.
Review of Tesco Fixed Rate Cash ISA
Tax-free saving and guaranteed interest rate for a fixed term, Tesco offer a number of savings options for their customers with one of the highest rate of interest on the market. Check our tables for interest rate comparison.
History
Tesco Bank is a British retail bank which began in 1997, and which has been completely owned by Tesco plc since 2008. Tesco offers a range of insurance, credit cards, loans, savings, mortgages and travel products, and launched a current account in June 2014.
A unique selling point of Tesco’s banking products is that the bank is able to use its large customer base to cross-sell financial services products, meaning customers can accumulate Tesco Clubcard points when they purchase finance products. Tesco Bank came third in the British Bank Awards, with an average customer satisfaction of 87.8%.
Fixed Rate Cash ISA
If you want to make a lump sum deposit and leave your money to grow tax-free then Tesco’s fixed rate cash ISA is a great option. In the first 30 days you can pay in up to £20,000.
Features:
- Your interest rate guaranteed for one year – you can’t withdraw any money during this fixed term unless you close the account and pay a fee
- You can manage your money with online and telephone banking
- You can transfer your existing ISA as long as it’s within 30 days.
This ISA is a great option if you’re able to tie up your money for a year due to its high interest rate and ability to manage your account online. Being part of the Tesco Bank group also means you get lots of clubcard savings points and offers, which is very useful if you shop at Tesco.
Why use a Fixed Rate ISA?
Typically, a fixed-rate Isa account will pay more interest. In exchange for a higher rate, banks will ask you to tie up your cash. Generally, the longer you give up access, the higher the return. As it is a guaranteed amount, you know what you will end up with at the end which makes it a lot safer than investing.
ISAs are a good idea whatever your savings goal. With certain types of cash ISAs, you have instant access to your money, which makes it a flexible way to plan your finances.
It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance. This means you could save over £30,000.