Savings

Tembo Money – Tembo Cash ISA

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

“Tembo Money has increased the rate on its Tembo Cash ISA this week, which sees it improve its position within the top 10 when compared against its peers. Now paying 4.80% AER monthly, this may be an ideal option for savers wishing to boost their income. The account can be opened with as little as £10; withdrawals and further additions are permitted; however, they must be a minimum of £10. Savers can also choose to split their Cash ISA savings across multiple ISAs within Tembo’s range which may add to its appeal. The deal secures an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.689% gross / 4.80% AER payable monthly
• Notice / term: None
• Minimum opening amount: £10
• 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: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Investors can choose to split their Cash ISA savings across multiple ISAs within Tembo Money’s range.

Birmingham Bank – 1 Year Fixed Rate Bond - Issue 3

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

“This week Birmingham Bank launched a new 1 Year Fixed Rate Bond. The account pays 4.52%, which sees it take a competitive position when compared against fixed bonds of the same term, and is available for investors able to contribute a minimum of £5,000. Careful planning will be required as earlier access is not permitted, although savers will be able to make further contributions for 14 days from the account opening via a nominated account, which may be more positive news. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.52% gross / 4.52% 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 14 days from account opening via nominated account
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

OakNorth Bank – 12 Month Fixed Rate Cash ISA

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

“OakNorth Bank has increased the rates on the 12-month term of its fixed cash ISA this week. The account takes the market-leading position when compared against its peers, it pays 4.47% AER monthly, which may be an enticing option for savers looking for an income boost. Investors can invest as little as £1; however, it is important to note that the account must be funded within 30 days of account approval, or it will be closed. In more positive news, further additions can be made for 30 days from the account opening. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.38% gross / 4.47% AER, payable monthly
• Notice / term: 12 months
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 90 days’ loss of interest penalty via nominated account
• Further additions: Permitted for 30 days from account opening via a nominated account
• Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs
• Transfers out: Permitted, subject to 90 days’ loss of interest penalty
• Opening account: Online and via its mobile app
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or it will be closed. Investors can choose to split their Cash ISA savings across multiple ISAs within OakNorth Bank’s range.

Hodge Bank – 2 Year Fixed Rate Cash ISA

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

“This week, Hodge Bank has increased the rate on its 2 Year Fixed Rate Cash ISA. The account takes a prominent position in the fixed cash ISA market for its term, paying 4.34% on its anniversary. This may be an attractive option for savers wishing to utilise their full ISA allowance and receive a guaranteed return. There is also a monthly interest option available. Investors should note that earlier access is subject to 180 days’ loss of interest so any withdrawals should be considered carefully. Further additions can also be made for 14 days from the account opening via a nominated account. On assessment, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.34% gross / 4.34% AER payable on anniversary / monthly interest option of 4.26% gross / 4.34% AER also available
• Notice / term: Two years
• Minimum opening amount: £1,000
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 180-day loss of interest penalty
• Further additions: Permitted, for 14 days from account opening via nominated account
• Transfers in: Not permitted
• Transfers out: Permitted, subject to 180-day loss of interest penalty
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

Close Brothers Savings – 5 Year Fixed Rate Cash ISA

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

“Close Brothers Savings has increased the rate on its 5 Year Fixed Rate Cash ISA, now paying an attractive rate of 4.30%. Savers looking to make the most out of their tax-free savings and receive a guaranteed return in the longer-term may find this an enticing deal. They 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. Investors will have to consider any withdrawals carefully as, although earlier access is permitted, this will be subject to account closure and a 365-day loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.30% gross / 4.30% AER payable yearly
• Notice / term: Five years
• Minimum opening amount: £10,000
• Maximum investment amount: ISA allowance
• Access: Permitted, on account closure and subject to a 365-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 365-day loss of interest penalty and closure of the account
• Opening account: Online
• Managing account: Online, by phone and by post
• Other information: Minimum applicant age 18. Investors can choose to split their Cash ISA savings across multiple ISAs within Close Brothers Savings’ range.

Mortgages

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 deal with a low upfront cost may find this latest fixed rate deal from Yorkshire Building Society an attractive choice. The two-year fixed rate mortgage for borrowers with 10% equity may find the rate cut appealing, now charging 5.17% until 30 June 2027. The deal offers an attractive incentive package which includes a free valuation, free legal fees and £250 cashback. There is a smaller than average £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: 5.17% fixed rate to 30.6.27
• Product fee: £495
• Maximum loan-to-value: 90%
• Available to: Remortgage customers
• Incentives: Free valuation, free legal fees and £250 cashback
• Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made
• Lending area: Great Britain and Northern Ireland.

Banking

NatWest – Reward Current Account

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

“This week NatWest has introduced a new switching incentive on its Reward Current Account for customers looking to switch from their current provider. Customers who switch using the CASS (Current Account Switch Service) will now receive £150 cashback following certain conditions. Adding to its appeal, customers can expect to receive £5 a month in rewards. However, the account does not pay any credit interest and has a monthly £2 fee, which should be considered. As is the case when switching to any account, customers will need to assess all the benefits and charges to ensure it’s the right choice for them. Overall, the account earns an Excellent Moneyfacts product rating.”

Key product details:

• Credit interest / reward: None
• Cashback on debit card purchases: None
• Account fee: £2
• Arranged overdraft: 39.49% EAR
• Opening account: Online, by phone or in branch
• Managing account: Online, in branch, by phone, by post, via mobile app and at the Post Office
• Other information: Minimum applicant age 18. Eligible for linked Savings Pots. £150 free cash offer, using the Current Account Switch Service, must deposit £1,250 and log in to mobile banking app within 60 days of switching. Terms & Conditions apply. Customers can earn up to £5 a month in rewards. Earn at least 1% Rewards on qualifying purchases at selected retailers which can be converted to cashback, trade up vouchers or donated to charity. Earn 4 Rewards per month by making a minimum of 2 direct debit payments of at least £2 each. Earn an additional 1 Reward by logging into mobile banking app every month. Once 5 Rewards are available, they can be exchanged for a £5 current account credit, traded up for Reward vouchers at selected retailers or donated to a participating charity.