Customers saving £144 on their card by 22 November (Bonus Day) will qualify for a tax-free bonus of 4.1% or £6, which is automatically added to the value of the card on that day. The maximum that can be saved on one card is £144, but customers are entitled to take out as many cards as they like by Bonus Day. None of the high-street savings accounts or cash ISAs can match such an offer, given that their savings rates are calculated over a year. It would take 14 months to earn £6 in interest on £144 saved in Tesco’s Instant Access Savings Account.

A family of four saving the maximum amount on the ASDA Christmas Savings Cards would earn a total of £24 by Bonus Day - enough to cover most of Christmas dinner with all the trimmings for the whole family. Customers can use their savings to purchase their weekly ASDA shop or select Christmas gifts from ASDA’s extensive range of electrical goods, music and DVDs, home and leisure items, or the George clothing range. The card is available at checkouts in ASDA’s 267 stores across the UK.

Gev Lynott, director of financial services at ASDA, said: “The ASDA Christmas Savings Card beats banks and building societies hands down and makes pounds go further at a financially challenging time of the year. We encourage customers to save throughout the year, and offer an extra incentive near Christmas to help them get the best out of their festive shopping.”

In the last eighteen months, ASDA has launched a range of financial services products, including life, pet, motor, home and travel insurance, a health cash plan and a credit card.

Notes to editors

Information on ASDA’s Christmas Savings Card is available in store. Customers are entitled to save up to a maximum of £144 per card. There is no limit on the number of cards per customer. All savings on the card must be redeemed against purchases in an ASDA store. Customers saving the maximum £144 by Monday 22 November will receive a £6 bonus (4.1%). Customers saving £97 will receive a £3 bonus (3%). Customers saving £49 will receive a £1 bonus (2%).

Information on the full range of ASDA’s financial services products is available in all its 267 stores.

ASDA’s home, motor and travel insurance policies are available online at www.asda.com Alternatively, customers can call: 0845 300 5775 for travel insurance; 0845 300 5772 for home insurance; 0845 300 5772 for motor insurance. Lines are open 8am-8pm Mon-Fri and Sat & Sun 9am-5pm. Information on ASDA’s life insurance and health cash plans is available at www.asda.com and cover is available by calling 0845 600 2732 for life insurance and 0845 303 0880 for health cash plans. Lines are open 8am-8pm Mon-Fri and Sat & Sun 9am-5pm