Having seen the interest rate on my savings account decimated from 5.5 to 2.25% in just 2 months I was looking for a better alternative and came across TESCO savings offering 6% (including a 1.5% bonus), but when I tried to apply was given a message that it was currently unavailable. Does this mean TESCO is also in the process of slashing its rates?
If/when I am allowed to apply for this account does anyone have any comments on the safety of TESCO finance? I know it's one of GB's largest comapnies, but not sure of the reputation/safety of its banking arm. In the current climate one can't be too careful.
If TESCO ceases to be available for new savers, any other recommendations of fair-paying and secure institutions to hold a savings account, eg Yorkshire BS, Principality BS, Newcastle, Intelligent Finance, Northern Rock...