Media centre Tesco Finance & Insurance

Since 2000, Tesco Savings has passed on the full benefit of every rate rise to  its customers.

This latest increase, effective from 20 June 2007, will see Tesco Instant Access Savings customers receive the following gross annual interest rates:

In addition, new customers who open an account by 19 June will not only see their rates rise on the 20 June, but providing they have a balance of £1000 or more on in the account on 30 June, will receive 1000 free Clubcard points.

The points will be received in their August Clubcard statement and can be used as £10 off their shopping in store or as £40 to spend on Tesco Clubcard Deals.

Jeremy Sutton, head of Savings and Investments at Tesco Personal Finance comments: "It will be interesting this time round to see just how many other companies also pass on the full benefit of the base rate rise. We are committed to offering great value to our customers and rewarding them for choosing to save with us.   Our track record of passing on the full rate rise and current Clubcard points offer demonstrates that commitment."

For further information contact:

Monica McCormack, Tel. 0131 523 5533/07802 319 266, monica.mccormack@tescopf.com

Matthew Dransfield, Tel 0131 523 9001, matthew.dransfield@tescopf.com

• Tesco Savings offers instant access.
• You can pay in and withdraw cash at more than 600 Tesco stores.
• The minimum balance in a Tesco Savings Account is just £1.
• To apply phone 08457 10 40 10, pick up a leaflet in store, or visit tesco.com
• Customers with Tesco Savings Account can also manage their account over the Internet.  The internet service allows customers to:-
  • Check their account balance
  • See what payments have been made into or out of the account
  • Make regular, or one-off deposits, into the account from other accounts
  • Transfer money from their Tesco account to another current account
  • Transfer money between the savings account and their Tesco Clubcard Plus
  • Print out balances and statements
• Account statements are sent to customers' quarterly.
• The flexible direct debit facility enables customers to phone at any time to pay any amount from their personal bank account into their Tesco Savings Account - 24 hours a day, 365 days a year.
• A freephone number 0800 78 38 001 is available for customers to find out the balance of their account together with the last six transactions.

Tesco Personal Finance, the financial services arm of the UK's number one supermarket chain, was launched in July 1997 and offers a combination of Internet, supermarket and telephone banking.   Tesco Personal Finance now has over 5 million customer accounts and provides a range of low cost, value for money financial services.  It is a joint venture between Tesco PLC and The Royal Bank of Scotland Group plc. Tesco Personal Finance Ltd. Registered in Scotland No 173199.Registered Office 24 St Andrew Square Edinburgh, EH2 2YE