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Fixed Rate Saver

Why is the interest on my annual statement different to what I received?

Your statement is sent on the anniversary of your account opening but your interest is paid on the anniversary of your deposit. This means that unless you made your first deposit on the day you opened your account, your annual statement will not display interest earned over the last 12 months.


For example, if you opened your account on 1st March 2017 but the account wasn't funded until the 5th, then your annual statement will be issued on 1st March 2018 but your interest won't be paid until the 5th March 2018. The first annual statement won't show any interest, but this will appear on your next statement.


my fixed rate saver matured 13/08/20. where is it now? I cannot view on line and the money is not in my bank! I am very concerned.

Hi @grumpydad, I'm sorry to hear this. Can you please send a private message to @Tesco-Bank so we can look into this for you? - Thomas

Have done so.