Savings

JN Bank – Fixed Term Savings Account

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

“JN Bank has increased the rates on a range of its Fixed Term Savings Accounts, including its two-year option. The account now pays 4.43%, which takes the market-leading position when compared to its peers. Savers can invest as little as £100. As is the case with many fixed term accounts, earlier access is not permitted, so savers must be comfortable not having any access to their cash for the full term. In more positive news, consumers can make 11 additional payments after initial funding for 14 days from the account opening. On assessment, the account earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.43% gross / 4.43% AER payable on its anniversary
• Notice / term: Two-year bond
• Minimum opening amount: £100
• Maximum investment amount: £500,000
• Access: Not permitted
• Further additions: 11 additional payments permitted after initial funding for 14 days from account opening
• Opening account: Online
• Managing account: Online and by phone
• Other information: Minimum applicant age 18.

Banking

The Co-operative Bank – Current Account – Age 18 and over

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

“For customers looking to switch their current account provider, The Co-operative Bank has relaunched its switching incentive this week on the Current Account and Everyday Extra Current Account. Customers who switch using the CASS (Current Account Switch Service) will now receive £100, plus an additional £25 a month for up to three months when meeting certain criteria. Current Account holders also have exclusive access to a 7% AER Regular Saver. However, neither account pays any credit interest, which customers may wish to consider. The Everyday Extra account could also get three months’ free access to travel insurance, breakdown cover and mobile phone insurance, bringing the total reward value to £229. 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: None
• Arranged overdraft: 35.90% EAR
• Opening account: Online or in branch
• Managing account: Online, in branch, by phone, via mobile app, by post, at the Post Office and text alerts.
• Other information: Minimum applicant age 18. £100 cashback for accounts switched using the Current Account Switch Service. Must deposit £1K or more, have two or more active direct debits, make at least 10 debit card payments, register for online banking or mobile app and register debit card in a digital wallet within 30 days. Receive £25 per month for up to three months after receiving the £100 switch offer. Must deposit £1K or more, make at least 10 debit card transactions and have two or more direct debits each month. T&Cs apply.

Loans

Novuna Personal Finance – Unsecured Personal Loan

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

“The latest update from Novuna Personal Finance sees it reduce the rates on selected tiers of its Unsecured Personal Loan, including the £7,500 to £25,000 tier. The deal takes a competitive position against its peers and now charges 6.1% APR. Although lower rates are available, this deal may stand out to some as the loan allows overpayments to be made without incurring an early repayment charge, unlike others. Overall, the product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Representative APR: 6.1%
• Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
• Application available: Online and by phone
• Other information: Minimum age 21. Minimum Applicant Net Income £10,000 per year.