You can now apply online on our website to open a Tesco Bank current account to benefit from a guaranteed 3% AER credit interest on balances up to £3,000 until 1 April 2019.
To help us ensure that we can provide a great service, new customers who want to take advantage of the credit interest Guarantee are required to:
Deposit £750 into their account per statement month
Have at least three direct debits paid out of the account per statement month (not into a Tesco Bank savings account)
In return, as an extra little help, current account customers will receive even more Clubcard points. All customers will collect, 1 Clubcard point per £1 spent at Tesco on their debit card until 1 April 2019. This is in addition to collecting standard Clubcard points when shopping at Tesco and 1 Clubcard point is collected per £8 spent outside of Tesco
The Tesco Bank Current Account is available to people aged 18 or over. Accounts are subject to status.
Current Account Guarantee Terms and Conditions
3%AER/2.96% Gross variable credit interest on balances up to £3,000, guaranteed until 1 st April 2019. To earn interest, each statement month you must pay in at least £750 and have at least three direct debits paid from your account (excluding direct debits to a Tesco Bank savings account). Although this rate is variable it will not drop below 3% AER during the guarantee period, provided you meet the interest conditions. Interest paid monthly. A statement month runs from the monthly anniversary of the date you opened your account
Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year. Gross is the interest rate paid before tax is deducted.
Until 1st April 2019 we guarantee you will be awarded 1 point per £1 spent in each debit card
purchase transaction (£1 minimum) within Tesco and 1 point awarded per £8 spent in each debit
card purchase transaction (£8 minimum) outside Tesco. Exclusions apply. Clubcard earn rates are subject to change. There are some products at Tesco you can’t collect points on, see the Tesco Clubcard Terms and Conditions and website at www.tesco.com/clubcard/help/terms-and-conditions for exclusions. The Tesco Clubcard Scheme is administered by Tesco Stores Limited, Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, AL7 1GA, who are responsible for fulfilling points.
This product is subject to availability and may be withdrawn to new customers at any time.