Protection
FSCS£120,000
Min balance
£2,000
Max balance
£5,000,000
Access
At maturity only
Interest paid
Annually/Monthly
How It Stacks Up
Ranks 13th of 69
1-year fixed bonds we track
This account 4.84%
- UK CPI (Aug 2026)
- 3.10%
- Pays 1.74% more
- Average 1-year fixed
- 4.47%
- Pays 0.37% more
- Best 1-year fixed
- 5.12%
- Pays 0.28% less
Inflation: ONS. Averages and best rates: accounts on DepositScout.
A Good Fit For
- Pro: Savers who want a monthly income
Worth Weighing Up
- Con: Your money is locked in for 1 year
- Con: You need at least £2,000 to open it
Good to Know
Multiple deposits are allowed in the first 30 days; the balance must reach at least £2,000 and may not exceed £5 million by the end of that period, after which no further deposits are accepted. Tesco writes before maturity and sends a reminder at least 14 days before term end. If no instruction is given, the money remains in the account and earns a holding rate notified before maturity until instructions are received.
Please verify all details with the provider – see our Disclaimer
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