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News Tag: Tesco Bank

October 24, 2012

Tesco launches sub-2% mortgage rate

by Jan Harris
Tesco launches sub-2% mortgage rate
Tesco Bank has launched a record-low mortgage deal, but only for those who can afford a deposit of at least 40 per cent of the value of the property, as well as a £995 fee. The two-year deal offers a rate of just 1.99 per cent and is fixed until the end of 2014. Tesco has used the government's recently launched "Funding for Lending" ...




August 6, 2012

Tesco to offer club card points on mortgages

by Jan Harris
Tesco to offer club card points on mortgages
Retailer Tesco is launching mortgage products through Tesco Bank, allowing Tesco Clubcard holders to earn points on repayments. It is offering mainly fixed-rate deals, with interest rates ranging from 3.19 per cent to 5.09 per cent and a minimum deposit of 20 per cent. With many fixed-rate deals currently offering interest rates of below 3 per cent, Tesco’s mortgages are not ...




May 5, 2010

Couples remain financially single

by David Masters
Couples remain financially single
Nearly a third of couples remain financially single despite living together, new research has found. A study by Tesco Bank found 29% of couples in the UK are unwilling to pool their earnings into a joint account. The research also found that it takes an average of two years before couples are happy to share their finances. Of those who do open a joint account, 56% ...




November 20, 2009

Tesco takes next step in banking as it selects Fiserv

by Kay Mitchell
”Tesco
Supermarket giant Tesco has taken the next step in its quest to become a bank by signing up Fiserv. US-based Fiserv provides information management and electronic commerce systems to the financial services industry. Tesco said Fiserv will assist it in becoming a full-service bank by providing account information and banking transactions for Tesco Bank customers. John Bower, managing director, ...




October 28, 2009

Tesco Bank creates 1,000 new jobs, while Best Buy announces 8,000 new jobs

by Kay Mitchell
”Tesco
Tesco Bank has announced today it is to create 1,000 new jobs in Newcastle next year. The news follows Tesco Bank's insurance partnership with Fortis UK, with the joint venture forming a new motor and household insurance company. The move is part of the supermarket giant’s plan to step up its presence in the banking sector. ...




October 17, 2009

Tesco Bank to gain market share

by David Masters
Tesco Bank to gain market share
Supermarket finance is set to make significant gains in market share over the coming months, lovemoney.com said this week. The financial advice site made the claim after Tesco Personal Finance re-branded as Tesco Bank. Ed Bowsher, lovemoney.com's head of personal finance, said the renaming signals the beginning of a marketing offensive by Tesco on financial products. "I think Tesco is going to become a ...




April 21, 2009

Tesco announces record £3bn annual profit

by Kay Mitchell
”Tesco
Supermarket giant Tesco has announced a pre-tax profit of £3.13 billion - the highest ever full-year earnings reported by a UK retailer. The UK‘s largest supermarket, with a 30% share of the market, said the current year had started "solid" with like-for-like sales (stripping out petrol) in the past six weeks rose by 3.4%. The group added that plastic bag usage had ...