Savings

Plum – Plum Cash ISA

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

“This week, Plum has increased the rate paid on the £100 tier of its Plum Cash ISA. Now paying a market-leading rate of 5.01% AER / 4.94% gross and, as interest is paid monthly, it could be an attractive option for savers looking to boost their income. However, it may be important to note that this rate includes a 1.20% gross bonus for 12 months, and savers will face a reduction in the interest rate paid if they make more than three withdrawals per year. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 2.47% gross / 2.50% AER paid from £1, 4.94% gross / 5.01% AER paid from £100, payable monthly (including a 1.20% gross bonus for 12 months on the £100 tier only, payable on first anniversary from account opening)
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, 2.47% gross / 2.50% AER paid if more than three withdrawals are made per year. Minimum withdrawal £1.
• Further additions: Permitted, minimum addition £1
• Transfers in: Permitted, accepts Cash ISAs, Stocks & Shares ISAs, Help to Buy ISAs, Lifetime ISAs, Innovative Finance ISAs and Stocks & Shares LISAs. Bonus rate not applicable if opened via transferring an existing ISA
• Transfers out: Permitted
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Operated by Citibank UK Limited. Bonus rate only applicable if a minimum account balance of £100 is maintained and not opened via transferring in an existing ISA. Investors can choose to split their Cash ISA savings across multiple ISAs within Plum’s range.

Oxbury Bank – 90 Day Notice Base Rate Tracker (Issue 6)

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

“Oxbury Bank has re-launched the sixth issue of its 90 Day Notice Base Rate Tracker. Paying 4.90% AER / 4.79% gross, it takes a prominent position when compared to other monthly interest and notice account sectors. This account may well appeal to those searching for a higher rate than can be achieved on an easy access account. Savers must note that their initial deposit must be made within the first 90 days of account opening or the account will close automatically. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.79% gross / 4.90% AER payable monthly
• Notice / term: 90 days
• Minimum opening amount: £1,000
• Maximum investment amount: £500,000
• Access: Permitted, subject to 90 days’ notice via nominated account
• Further additions: Permitted via a nominated account
• Opening account: Online
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Oxbury App required to use online banking. Initial deposit must be made within 90 days of account opening, or account will automatically close.

Chip – Chip Easy Access Saver (powered by ClearBank)

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

“Chip has increased the rate on its Easy Access Saver (powered by ClearBank) this week to 4.85% AER / 4.74% gross, enhancing its position in the easy access sector. However, savers should note this is inclusive of a 0.99% bonus for the first 12 months. Additionally, savers should consider any withdrawals carefully as a lower rate is paid if four or more are made in a year. 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: 4.74% gross / 4.85% AER payable monthly (including a 0.99% gross bonus for 12 months)
• Notice / term: None
• Minimum opening amount: £0
• Maximum investment amount: £1 million
• Access: Permitted, 3.69% gross / 3.75% AER paid if more than three withdrawals are made per year  
• 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.

Isbank – Raisin UK – 1 Year Fixed Term Deposit

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

“Isbank has increased the rate on its Raisin UK – 1 Year Fixed Term Deposit by 0.74% this week, which sees it take a competitive position when compared against its peers. The deal now pays 4.74% and may well entice savers who are happy to lock away their cash to receive a guaranteed return. However, savers should note that earlier access and further additions are not permitted so they must be comfortable with their initial investment. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.74% gross / 4.74% AER, payable yearly
• 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. Account available via the Raisin UK platform.

SmartSave – 2 Year Fixed Rate Saver

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

“This week SmartSave has increased the rate on a range of its Fixed Rate Savers, including its two-year option. The increase sees it take the market-leading position and pay 4.66%, for those able to invest a minimum of £10,000. As is the case with many fixed bonds, savers cannot withdraw their cash before the term is completed, but they may be happy to see that further additions can be made for 14 days from the account opening. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.66% gross / 4.66% AER payable on maturity (compounded annually)
• Notice / term: Two years
• Minimum opening amount: £10,000
• Maximum investment amount: £85,000
• Access: Not permitted
• Further additions: Permitted for 14 days from account opening
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

Close Brothers Savings – 1 Year Fixed Rate Cash ISA

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

“Close Brothers Savings has increased the rates on a selection of its fixed rate bonds and fixed cash ISAs alongside re-launching its easy access account. The one-year fixed ISA option pays a competitive 4.52% and may well appeal to those looking to maximise their savers’ allowance for an agreed term. Savers will need a substantial initial investment of £10,000 but further additions are permitted for 10 days from the account opening if they wish to invest more. However, savers should be cautious as even though early access is permitted, this will result in account closure and is subject to a 90-day loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.52% gross / 4.52% AER payable yearly
• Notice / term: One year
• Minimum opening amount: £10,000
• Maximum investment amount: ISA allowance
• Access: Permitted, on account closure and subject to a 90-day loss of interest penalty
• Further additions: Permitted, for 10 days from account opening
• Transfers in: Permitted, allows Cash and Stocks and Shares ISAs. Transfer instructions must be received within 10 days of account opening
• Transfers out: Permitted, subject to a 90-day loss of interest penalty
• Opening account: Online
• Managing account: Online, by phone and by post
• Other information: Minimum applicant age 18.

Mortgages

first direct – Two-year fixed rate mortgage, 60% loan-to-value

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

“first direct has made reductions to fixed rates for house purchase and remortgage borrowers by up to 0.30% this week. For house purchase customers, the two-year deal at 60% loan-to-value has seen a smaller cut of 0.19% and is now priced at 4.23%. Borrowers may be glad to see that this deal charges a smaller than average fee of £490 and comes with an attractive incentive package which includes a free valuation, which may be ideal for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.23% fixed rate for two years
• Product fee: £490
• Maximum loan-to-value: 60%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Yorkshire Building Society – Two-year fixed rate mortgage, 90% loan-to-value

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

“Remortgage customers seeking a competitive mortgage rate with a low upfront cost may find this latest fixed rate deal from Yorkshire Building Society an attractive choice. After a rate cut, the two-year fixed rate mortgage at 90% loan-to-value is now priced at 5.25%. The deal offers an enticing incentive package which includes a free valuation and free legal fees incentive, alongside £250 cashback. There is a £495 product fee attached which borrowers have the option of adding to the advance of the mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.25% fixed rate to 30.4.27
• Product fee: £495
• Maximum loan-to-value: 90%
• Available to: Remortgage customers
• Incentives: £250 cashback, free legal fees and a free valuation
• Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made
• Lending area: Great Britain and Northern Ireland.

Cards

Tesco Bank – Clubcard Credit Card Balance Transfer Mastercard

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

“The latest update from Tesco Bank sees an increase to the balance transfer term to 30 months and the introductory balance transfer fee to 3.19% on its Clubcard Balance Transfer credit card. Following these changes, the deal places competitively when compared against its peers. Furthermore, this term increase gives borrowers longer to pay off any existing balances interest-free. Adding to its overall appeal, applicants can also earn Clubcard points when they spend. Overall, the card earns an Outstanding Moneyfacts product rating.”

Key product details:

• Introductory rate for purchases: None
• Introductory rate for balance transfers: 0% for 30 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 3.19% as an introductory charge during the first three months from account opening, rising to 3.99% (no min) thereafter
• Card fee: None
• Opening method: Online and by phone
• Card management: Online, by phone, by post and via its mobile app
• Other information: Minimum age 18. Minimum income £5,000. Rates dependent on credit rating. 1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco, must have available credit to earn points. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and an enhanced rate of 1 point for every litre of fuel bought at Tesco Petrol Filling Stations. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards. 1 point = 1p (min 250pts)

TSB – Platinum Balance Transfer Card Mastercard

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

“The latest update from TSB sees an increase in several 0% introductory terms across their Platinum Purchase Card and Platinum Balance Transfer Cards, as well as their introductory balance transfer fees. The Platinum Balance Transfer Credit Card now offers borrowers 30 months to transfer existing balances interest-free. Although lower balance transfer fees are available elsewhere, borrowers can benefit from 0% on purchase for three months which may add to its overall appeal. As a result, this deal places competitively in the top tables when compared against its peers. Overall, 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 30 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 3.49% as an introductory charge during the first three months from account opening, rising to 5.00% (no min) thereafter
• Card fee: None
• Opening method: Online
• Card management: Online, by phone, in branch and via its mobile app
• Other information: Minimum age 18.

Loans

TSB – Unsecured Personal Loan

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

“The latest change from TSB sees rate reductions on both the Existing Customer Personal Loan and the Personal Loan. The Personal Loan for new customers borrowing amounts between £7,500 and £25,000 saw a cut to 5.9% APR, making it one of the lowest rates on the market for borrowers looking to borrow between these amounts. Adding to its appeal, the loan allows overpayments to be made without an early repayment charge. Overall, the product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Representative APR: 5.9%
• Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
• Application available: Online, by telephone and in branch
• Other information: Minimum age 18. Must be aged 21 or above to apply online. Minimum Applicant Net Income £850 per month. You may be offered an alternative APR dependent on credit rating.