Savings

RCI Bank UK – 2 Year Fixed Term Cash ISA 

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“This week RCI Bank UK has increased the rates on a handful of its fixed rate bonds and ISAs. One deal to take the market-leading position is the 2 Year Fixed Term Cash ISA which now pays an attractive 5.15% on balances starting from £1,000. Savers have the choice of having interest paid on its anniversary or monthly but this account may appeal to anyone looking to maximise their tax-free savings over the next two years. Adding to the account’s appeal, further additions are permitted for 14 days from the account opening, which may be a bonus for savers looking to invest larger sums. However, as is the case with many fixed rate ISAs, while earlier access is permitted, savers will be subject to 180 days’ loss of interest, so access will need to be carefully considered. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.15% gross / 5.15% AER, payable on its anniversary / monthly interest option of 5.03% gross / 5.15% AER also available
• Notice / term: Two years
• Minimum opening amount: £1,000
• Maximum investment amount: £1 million
• Access: Permitted, subject to 180-day loss of interest 
• Further additions: Permitted for 14 days from account opening
• Transfers in: Permitted, accepts Cash and Stocks and Shares ISAs
• Transfers out: Permitted for 14 days from account opening 
• Opening account: Online 
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. 

Mortgages

Barclays Mortgage – Two-year fixed rate mortgage, 60% loan-to-value 

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“The latest update from Barclays Mortgage sees a reduction of up to 0.30% on a handful of its fixed rates. One deal to see this generous cut is the two-year house purchase option at 60% loan-to-value, which is now priced at 5.10%. For borrowers looking to save on upfront costs, this may be an attractive option as there are no fees and a free valuation incentive is included. The cut, alongside its package, is enough to see it earn a prominent position in the Best Buy tables and the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.10% fixed rate to 31.12.28
• Product fee: None
• Maximum loan-to-value: 60%
• Available to: House purchase customers 
• Incentives: Free valuation 
• Flexible features: Allows overpayments up to limit of 10% 
• Lending area: Great Britain and Northern Ireland. 

Cards

HSBC – Purchase Plus Credit Card Visa 

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“This week HSBC has increased the standard purchase rate on its Purchase Plus credit card to 25.9%. Despite the rise, the card continues to be among the most attractive options on the market and maintains a position in the Best Buy tables. This deal may be an appealing option for borrowers looking to make large purchases or transfer existing debt as it offers 0% on purchases for 24 months and 0% on balance transfers for 17 months. Borrowers should ensure they can afford to make repayments once the introductory periods expire and that they meet the eligibility criteria. On assessment, this deal earns an ‘Outstanding’ product rating.”

Key product details: 

• Introductory rate for purchases: 0% for 24 months
• Introductory rate for balance transfers: 0% for 17 months
• Standard rate for purchases: 25.9% APR subject to status
• Balance transfer fee: 3.49% (£5 minimum fee) as an introductory charge during the first two months from account opening. Standard fee quoted on application. 
• Card fee: None
• Opening method: Online, by phone and in branch
• Card management: Online, by phone, by post, in branch and via its mobile app
• Other information: Minimum age 18. Minimum income £6,800pa.