ASDA’S Christmas saving scheme closes tomorrow at 5pm, meaning there’s just one day left to maximise your bonus.
The scheme works by rewarding customers who save cash in the run up to Christmas.
You get bonuses worth up to £15 depending on how much you save before the deadline.
These cash rewards work on a sliding scale so the more you save, the more you get back in return.
The different bonus levels are:
- Save £30-£79: receive a £1 bonus
- Save £80-£129: receive a £3 bonus
- Save £130-179: receive a £6 bonus
- Save £180-£229: receive a £9 bonus
- Save £230-£279: receive a £12 bonus
- Save £280 or more: receive a £15 bonus
Shoppers can load a maximum of £485 on the Asda Christmas Savings Card, but the bonuses don’t go up any further once you reach £280.
While the bonuses don’t sound like much, you’re actually getting a return on your savings worth between 1.26% and 4.36%.
This is significantly better than most savings schemes, so the cards actually work out as a fantastic Christmas savings tactic for regular Asda shoppers.
If you’re at the top edge of one bonus banding, your return is much lower than if you save just a pound more and push yourself up to the next bonus.
For instance, if you £79 you get a £1 bonus, which works out at 1.26%, but if you add an extra £1, you get a £3 bonus which works out at 3.75%.
The best return on savings comes if you put away exactly £280, which gives you a £15 top up and a return rate of 5.36%.
Above that, the rate starts tailing off as the bonuses no longer rise, and if you save the maximum of £485 your rate drops to 3.01%.
The cut-off deadline before bonuses are calculated is 5pm on Sunday, November 21, 2021.
That means anyone who is part of the scheme should check to see how close they are to the next bonus level.
If you’re nearly there, it’s well worth saving a little extra to push you up to a higher bonus payout.
The savings and bonus can then be spent in-store at any Asda checkouts, as well as on online grocery shops and on George.com.
You can top up the card at the till in any Asda stores.
The bonus will automatically be paid onto your card by 8am on Monday, November 22, which means you don’t have to do anything to claim.
Other supermarkets also have savings schemes including Morrisons, Sainsbury’s and Tesco.
Asda is also planning to launch its first-ever loyalty card scheme giving shoppers money off groceries.
And Morrisons announced a shake-up of its loyalty scheme, which means shoppers will get money off instead of points.
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