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Moneyfacts Pick of the Week - 20/06/2024

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Caitlyn Eastell, Apprentice Press & PR Assistant
Caitlyn Eastell, Apprentice Press & PR Assistant T: 01603 476169 E: Email Caitlyn
20/06/2024

Moneyfacts Pick of the Week

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfactscompare.co.uk.

This week, our resident Spokesperson, Caitlyn Eastell, has analysed the following deals, along with their perks, of note:

Moneyfacts Pick of the Week

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfactscompare.co.uk.

This week, our resident Spokesperson, Caitlyn Eastell, has analysed the following deals, along with their perks, of note:

Savings

Vanquis Bank – 90 Day Notice Account (Issue 5)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Vanquis Bank has increased the rate on its fifth issue of the 90 Day Notice Account this week. Now paying 5.35% the deal maintains its market-leading position in the notice and monthly interest sectors. Savers will need to invest a minimum of £1,000, however, withdrawals and further additions can be made for the duration. This account may also be an attractive option for savers who wish to boost their income, as there is the choice to opt for monthly interest. Savers must be prepared to give notification when wanting to access their cash, because earlier access is not permitted. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.35% gross / 5.35% AER payable on anniversary / monthly interest option of 5.22% gross / 5.35% AER also available
  • Notice / term: 90 days
  • Minimum opening amount: £1,000
  • Maximum investment amount: £250,000
  • Access: Permitted
  • Further additions: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18. Joint account option available.

 

Ziraat Bank – Raisin UK - 1 Year Fixed Term Deposit

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Ziraat Bank has increased the rate on its one-year Fixed Term Deposit with Raisin UK. The account now pays 5.21% and takes a prominent position in the top tables when compared to other fixed bonds of the same term. As is the case with many fixed term savings accounts, savers cannot make any withdrawals or further contributions, so careful planning is crucial from the outset. However, this deal may entice those looking for a guaranteed return over the next 12 months. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.21% gross / 5.21% AER payable on maturity
  • Notice / term: One year
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online, and via mobile app by Raisin UK
  • Managing account: Online, and via mobile app by Raisin UK
  • Other information: Minimum applicant age 18.

 

Progressive Building Society – 1 Year Double Access Cash ISA Account (Issue 3)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The latest update from Progressive Building Society sees a rate increase of 0.55% on its 1 Year Double Access Cash ISA Account, which now pays 5.05%. This account takes a prominent place in its sector and may be an appealing option for savers who have yet to use their ISA allowance. Should investors wish to make any withdrawals it is important they consider timings carefully as only two withdrawals can be made per tax-year and the account reverts to an instant access Cash ISA upon any further withdrawals. Savers will need a minimum of £500 to invest initially, however, further additions are permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.05% gross / 5.05% AER payable yearly
  • Notice / term: None
  • Minimum opening amount: £500
  • Maximum investment amount: ISA allowance
  • Access: Permitted, two withdrawals per tax-year, reverts into an instant access cash ISA upon further withdrawals.
  • Further additions: Permitted
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, two withdrawals per tax-year, reverts into instant access cash ISA upon further withdrawals
  • Opening account: In branch and by post
  • Managing account: In branch and by post
  • Other information: Minimum applicant age 18. Reverts into an instant access cash ISA at maturity.

 

Secure Trust Bank– 1 Year Fixed Rate Cash ISA (30.Jul.25)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Secure Trust Bank has increased the rate on its 1 Year Fixed Cash ISA. The account pays an enticing 4.86%, securing a competitive position within the market. Savers will need to invest a minimum of £1,000 but they may be glad to see that further additions can be made for 30 days. Investors should consider any early withdrawals carefully as they will be subject to 90 days’ loss of interest payment and closure of the account. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.86% gross / 4.86% AER payable yearly
  • Notice / term: 30.07.2025
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted via a nominated account, on account closure and subject to a 90-day loss of interest penalty
  • Further additions: Permitted via a nominated account, for 30 days from account opening. Minimum addition £1,000
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, subject to a 90-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online, by phone and via mobile app
  • Other information: Minimum applicant age 18.

 

United Trust Bank – Cash ISA 2 Year Bond

“United Trust Bank has increased the rate on a selection of its fixed ISA bonds. One account that fares best is its two-year fixed Cash ISA, which now pays a market-leading rate of 4.67% and may well entice savers looking to take advantage of their ISA allowance for the next two years. Savers can invest from £5,000 and make transfers in from cash ISAs, plus they can access their cash early if they so wish, subject to an interest penalty. The deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.67% gross / 4.67% AER payable on its anniversary
  • Notice / term: Two years
  • Minimum opening amount: £5,000
  • Maximum investment amount: ISA allowance
  • Access: Early access on 270-day loss of interest penalty
  • Further additions: Not permitted
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, subject to 270-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online, by post and by phone
  • Other information: Minimum applicant age 18.

 

Mortgages

The Co-operative Bank – Two-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The Co-operative Bank has reduced the rate on its two-year fixed rate mortgage this week. Priced at 4.89%, this deal comes with some enticing incentives to all borrowers; a free valuation and £250 cashback and, for remortgage customers, free legal fees. Those borrowers who are looking to save on the upfront cost of their deal may then find this an ideal choice, especially as the product fee of £999 can be added to the mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.89% fixed rate to 30.11.26
  • Product fee: £999
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation and £250 cashback for all and, for remortgage borrowers, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: Great Britain.

 

Tipton and Coseley Building Society – Three-year Discounted variable rate mortgage, 85% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside adjusting rates, Tipton and Coseley Building Society has launched a new three-year discounted variable rate mortgage. The deal charges 5.59% at 85% loan-to-value until 31.7.27. This deal offers a cheaper than average product fee of £499, which is ideal for those looking to save on upfront costs. Borrowers are also able to make overpayments. On assessment, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

  • 5.59% discounted– (discount 3.00%) until 31.7.27
  • Product fee: £499
  • Maximum loan-to-value: 85%
  • Available to: House purchase customers
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

Savings

Vanquis Bank – 90 Day Notice Account (Issue 5)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Vanquis Bank has increased the rate on its fifth issue of the 90 Day Notice Account this week. Now paying 5.35% the deal maintains its market-leading position in the notice and monthly interest sectors. Savers will need to invest a minimum of £1,000, however, withdrawals and further additions can be made for the duration. This account may also be an attractive option for savers who wish to boost their income, as there is the choice to opt for monthly interest. Savers must be prepared to give notification when wanting to access their cash, because earlier access is not permitted. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.35% gross / 5.35% AER payable on anniversary / monthly interest option of 5.22% gross / 5.35% AER also available
  • Notice / term: 90 days
  • Minimum opening amount: £1,000
  • Maximum investment amount: £250,000
  • Access: Permitted
  • Further additions: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18. Joint account option available.

 

Ziraat Bank – Raisin UK - 1 Year Fixed Term Deposit

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Ziraat Bank has increased the rate on its one-year Fixed Term Deposit with Raisin UK. The account now pays 5.21% and takes a prominent position in the top tables when compared to other fixed bonds of the same term. As is the case with many fixed term savings accounts, savers cannot make any withdrawals or further contributions, so careful planning is crucial from the outset. However, this deal may entice those looking for a guaranteed return over the next 12 months. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.21% gross / 5.21% AER payable on maturity
  • Notice / term: One year
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online, and via mobile app by Raisin UK
  • Managing account: Online, and via mobile app by Raisin UK
  • Other information: Minimum applicant age 18.

 

Progressive Building Society – 1 Year Double Access Cash ISA Account (Issue 3)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The latest update from Progressive Building Society sees a rate increase of 0.55% on its 1 Year Double Access Cash ISA Account, which now pays 5.05%. This account takes a prominent place in its sector and may be an appealing option for savers who have yet to use their ISA allowance. Should investors wish to make any withdrawals it is important they consider timings carefully as only two withdrawals can be made per tax-year and the account reverts to an instant access Cash ISA upon any further withdrawals. Savers will need a minimum of £500 to invest initially, however, further additions are permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.05% gross / 5.05% AER payable yearly
  • Notice / term: None
  • Minimum opening amount: £500
  • Maximum investment amount: ISA allowance
  • Access: Permitted, two withdrawals per tax-year, reverts into an instant access cash ISA upon further withdrawals.
  • Further additions: Permitted
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, two withdrawals per tax-year, reverts into instant access cash ISA upon further withdrawals
  • Opening account: In branch and by post
  • Managing account: In branch and by post
  • Other information: Minimum applicant age 18. Reverts into an instant access cash ISA at maturity.

 

Secure Trust Bank– 1 Year Fixed Rate Cash ISA (30.Jul.25)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Secure Trust Bank has increased the rate on its 1 Year Fixed Cash ISA. The account pays an enticing 4.86%, securing a competitive position within the market. Savers will need to invest a minimum of £1,000 but they may be glad to see that further additions can be made for 30 days. Investors should consider any early withdrawals carefully as they will be subject to 90 days’ loss of interest payment and closure of the account. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.86% gross / 4.86% AER payable yearly
  • Notice / term: 30.07.2025
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted via a nominated account, on account closure and subject to a 90-day loss of interest penalty
  • Further additions: Permitted via a nominated account, for 30 days from account opening. Minimum addition £1,000
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, subject to a 90-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online, by phone and via mobile app
  • Other information: Minimum applicant age 18.

 

United Trust Bank – Cash ISA 2 Year Bond

“United Trust Bank has increased the rate on a selection of its fixed ISA bonds. One account that fares best is its two-year fixed Cash ISA, which now pays a market-leading rate of 4.67% and may well entice savers looking to take advantage of their ISA allowance for the next two years. Savers can invest from £5,000 and make transfers in from cash ISAs, plus they can access their cash early if they so wish, subject to an interest penalty. The deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.67% gross / 4.67% AER payable on its anniversary
  • Notice / term: Two years
  • Minimum opening amount: £5,000
  • Maximum investment amount: ISA allowance
  • Access: Early access on 270-day loss of interest penalty
  • Further additions: Not permitted
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted, subject to 270-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online, by post and by phone
  • Other information: Minimum applicant age 18.

 

Mortgages

The Co-operative Bank – Two-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The Co-operative Bank has reduced the rate on its two-year fixed rate mortgage this week. Priced at 4.89%, this deal comes with some enticing incentives to all borrowers; a free valuation and £250 cashback and, for remortgage customers, free legal fees. Those borrowers who are looking to save on the upfront cost of their deal may then find this an ideal choice, especially as the product fee of £999 can be added to the mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.89% fixed rate to 30.11.26
  • Product fee: £999
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation and £250 cashback for all and, for remortgage borrowers, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: Great Britain.

 

Tipton and Coseley Building Society – Three-year Discounted variable rate mortgage, 85% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside adjusting rates, Tipton and Coseley Building Society has launched a new three-year discounted variable rate mortgage. The deal charges 5.59% at 85% loan-to-value until 31.7.27. This deal offers a cheaper than average product fee of £499, which is ideal for those looking to save on upfront costs. Borrowers are also able to make overpayments. On assessment, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

  • 5.59% discounted– (discount 3.00%) until 31.7.27
  • Product fee: £499
  • Maximum loan-to-value: 85%
  • Available to: House purchase customers
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

We hope you find this press release insightful. We would appreciate a link back to Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

We hope you find this press release insightful. We would appreciate a link back to Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Contact Us If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.
Rachel Springall Press Officer / Finance Expert
Caitlyn Eastell Apprentice Press & PR Assistant