Savings
Chip – Instant Access powered by ClearBank
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Chip has increased the rate on its Instant Access powered by ClearBank product to 3.75% this week, improving its position in the market. Savers searching for a competitive rate on a flexible savings account may find this deal attractive as it allows unlimited withdrawals. Savers should be aware that they need to hold a Chip subscription (for which both free and paid options are available). The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.75% gross / 3.82% AER payable monthly
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Open banking connection to current account is required. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription.
Investec Bank plc – 1-Year Fixed Rate Saver
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Investec Bank plc has increased the rate on its 1-Year Fixed Rate Saver, on the back of making an increase a week ago. Now paying 5.00% deal has improved its position within its sector against its peers and may be an attractive choice for savers looking to lock their money away for a year for a guaranteed return. Those who invest must have £5,000 to deposit upfront and, as is typical of fixed accounts, savers will not be permitted to access their funds early. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.00% gross / 5.00% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £5,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Permitted for seven days from account opening
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
UBL UK – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“This week, UBL UK has increased the rate on its 1 Year Fixed Rate Cash ISA, which has improved its position in the market. Now paying 4.35% on maturity, savers may find this an attractive choice if they have yet to use their ISA allowance, but they must be comfortable with their initial investment as further additions are not permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.35% gross / 4.35% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £2,000
- Maximum investment amount: ISA allowance
- Access: Only on closure and subject to 90-day loss of interest penalty
- Further additions: Not permitted
- Transfers in: Permitted. Accepts cash ISAs
- Transfers out: Permitted, subject to 90-day loss of interest penalty
- Opening account: Online, via its mobile app, by post and in branch
- Managing account: Online, via its mobile app, by phone, by post and in branch
- Other information: Minimum applicant age 18.
Gatehouse Bank – Easy Access Cash ISA
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who want flexibility with their ISA cash may find the latest rate rise by Gatehouse Bank appealing. The deal now pays an expected profit rate of 3.55% and improves its position within the top rate tables in its sector. The account offers a monthly expected profit option, which may appeal to savers looking to supplement their income, and overall earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.55% gross / 3.55% AER payable on anniversary / monthly expected profit option of 3.49% gross / 3.55% AER also available
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted
- Further additions: Permitted
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs.
- Transfers out: Permitted
- Opening account: Online
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18. Shari’ah compliant account – rates shown are expected profit rate.
NatWest – 2 Year Fixed Rate ISA Issue 323
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“This week, NatWest has increased the rate on its 2 Year Fixed Rate ISA, which now pays 4.50%. The deal takes a more prominent position within its sector against its peers and may well attract savers who plan to use their tax-free ISA allowance. Savers who are happy to lock their cash away until 2025 can make further additions until a certain date, which may appeal to those who may have extra cash to invest or transfers in. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.50% gross / 4.50% AER payable yearly
- Notice / term: To 10.7.25
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted until 7.7.23, then access on account closure, subject to 90-day loss of interest penalty or early closure charge
- Further additions: Permitted until 7.7.23.
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs and more. External ISA transfer requests by 19.6.23, internal ISA transfer requests by 3.7.23.
- Transfers out: Permitted, subject to up to 90-day loss of interest penalty
- Opening account: Online, via its mobile app or by phone. Telephone opening available to current account holders only.
- Managing account: In branch and by phone
- Other information: Minimum applicant age 16.
Cards
Virgin Money – 31 Month Balance Transfer Credit Card Mastercard
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“The newly launched 31 Month Balance Transfer Credit Card Mastercard from Virgin Money may entice consumers looking to move their debts for a market-leading 0% term. As the name suggests, the card offers a generous introductory 0% balance transfer term of 31 months and charges an upfront balance transfer fee of 3.50%. The card also has an interest-free offer of three months for purchases and 12 months for money transfers. Customers can enjoy exclusive offers and rewards on the Virgin Red app, which enhances its overall appeal. On assessment, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 31 months
- Standard rate for purchases: 23.9% APR
- Balance transfer fee: 3.50% as an introductory charge during the first two months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online, by phone and in branch
- Card management: By phone, post and via its mobile app
- Other information: Minimum age 18. Enjoy exclusive offers and rewards on the Virgin Red app. Rates dependent on credit rating.
Savings
Chip – Instant Access powered by ClearBank
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Chip has increased the rate on its Instant Access powered by ClearBank product to 3.75% this week, improving its position in the market. Savers searching for a competitive rate on a flexible savings account may find this deal attractive as it allows unlimited withdrawals. Savers should be aware that they need to hold a Chip subscription (for which both free and paid options are available). The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.75% gross / 3.82% AER payable monthly
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Open banking connection to current account is required. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription.
Investec Bank plc – 1-Year Fixed Rate Saver
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Investec Bank plc has increased the rate on its 1-Year Fixed Rate Saver, on the back of making an increase a week ago. Now paying 5.00% deal has improved its position within its sector against its peers and may be an attractive choice for savers looking to lock their money away for a year for a guaranteed return. Those who invest must have £5,000 to deposit upfront and, as is typical of fixed accounts, savers will not be permitted to access their funds early. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.00% gross / 5.00% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £5,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Permitted for seven days from account opening
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
UBL UK – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“This week, UBL UK has increased the rate on its 1 Year Fixed Rate Cash ISA, which has improved its position in the market. Now paying 4.35% on maturity, savers may find this an attractive choice if they have yet to use their ISA allowance, but they must be comfortable with their initial investment as further additions are not permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.35% gross / 4.35% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £2,000
- Maximum investment amount: ISA allowance
- Access: Only on closure and subject to 90-day loss of interest penalty
- Further additions: Not permitted
- Transfers in: Permitted. Accepts cash ISAs
- Transfers out: Permitted, subject to 90-day loss of interest penalty
- Opening account: Online, via its mobile app, by post and in branch
- Managing account: Online, via its mobile app, by phone, by post and in branch
- Other information: Minimum applicant age 18.
Gatehouse Bank – Easy Access Cash ISA
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who want flexibility with their ISA cash may find the latest rate rise by Gatehouse Bank appealing. The deal now pays an expected profit rate of 3.55% and improves its position within the top rate tables in its sector. The account offers a monthly expected profit option, which may appeal to savers looking to supplement their income, and overall earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.55% gross / 3.55% AER payable on anniversary / monthly expected profit option of 3.49% gross / 3.55% AER also available
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted
- Further additions: Permitted
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs.
- Transfers out: Permitted
- Opening account: Online
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18. Shari’ah compliant account – rates shown are expected profit rate.
NatWest – 2 Year Fixed Rate ISA Issue 323
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“This week, NatWest has increased the rate on its 2 Year Fixed Rate ISA, which now pays 4.50%. The deal takes a more prominent position within its sector against its peers and may well attract savers who plan to use their tax-free ISA allowance. Savers who are happy to lock their cash away until 2025 can make further additions until a certain date, which may appeal to those who may have extra cash to invest or transfers in. Overall, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.50% gross / 4.50% AER payable yearly
- Notice / term: To 10.7.25
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted until 7.7.23, then access on account closure, subject to 90-day loss of interest penalty or early closure charge
- Further additions: Permitted until 7.7.23.
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs and more. External ISA transfer requests by 19.6.23, internal ISA transfer requests by 3.7.23.
- Transfers out: Permitted, subject to up to 90-day loss of interest penalty
- Opening account: Online, via its mobile app or by phone. Telephone opening available to current account holders only.
- Managing account: In branch and by phone
- Other information: Minimum applicant age 16.
Cards
Virgin Money – 31 Month Balance Transfer Credit Card Mastercard
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:
“The newly launched 31 Month Balance Transfer Credit Card Mastercard from Virgin Money may entice consumers looking to move their debts for a market-leading 0% term. As the name suggests, the card offers a generous introductory 0% balance transfer term of 31 months and charges an upfront balance transfer fee of 3.50%. The card also has an interest-free offer of three months for purchases and 12 months for money transfers. Customers can enjoy exclusive offers and rewards on the Virgin Red app, which enhances its overall appeal. On assessment, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 31 months
- Standard rate for purchases: 23.9% APR
- Balance transfer fee: 3.50% as an introductory charge during the first two months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online, by phone and in branch
- Card management: By phone, post and via its mobile app
- Other information: Minimum age 18. Enjoy exclusive offers and rewards on the Virgin Red app. Rates dependent on credit rating.
