Savings
Afin Bank – 1-Year Fixed Term Account (Issue 8)
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Afin Bank has increased the rates on selected Fixed Term Accounts, including its one-year option which boosts the account to the market-leading position. Now paying an attractive 5.15%, savers can guarantee their returns over the next year and it may appeal to those looking for certainty. The account requires at least a £1,000 deposit, but further additions are permitted for 14 days via a nominated account for savers who wish to amend their initial investment, which may add to its overall appeal. However, as is the case with many fixed bonds, withdrawals are not permitted, so consumers should be comfortable with losing access for the full term and it may be worthwhile having a separate flexible pot to cover emergency expenses. On assessment, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.15% gross / 5.15% AER payable on anniversary
- Notice / term: One-year
- Minimum opening amount: £1,000
- Maximum investment amount: £200,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening via nominated account
- Opening account: Mobile app
- Managing account: Mobile app and by phone
- Other information: Minimum applicant age 18.
Castle Trust Bank - 2 Year Fixed Rate e-Cash ISA
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Castle Trust Bank has increased the return on its 2 Year Fixed Rate e-Cash ISA and now pays a joint market-leading rate at 5.10%. The account may be an ideal option for savers looking to maximise and guarantee their tax-free returns over the next two years. Savers will need to invest at least £1,000 but if the minimum investment is not met within 14 days then their balance will be refunded, and no interest will be paid. Those with larger balances may be pleased to note that further additions are permitted for 14 days and can invest as much as £500,000. It’s important savers are comfortable with locking away their cash for the full term, otherwise they could face a 180-day loss of interest penalty and the closure of the account, so this should be carefully considered. On assessment, this receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.10% gross / 5.10% AER payable on maturity
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £500,000
- Access: Earlier access on closure only 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, on closure only subject to 180-day 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. Investors can choose to split their Cash ISA savings across multiple ISAs within Castle Trust Bank’s range. If minimum investment not made within 14 days of account opening, no interest is paid and the balance is refunded. Castle Trust Bank will plant a tree when an e-Cash ISA is opened and funded within the 14-day funding window.
Cards
Barclaycard – Platinum 35 Month Balance Transfer Visa
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from Barclaycard sees it reduce the 0% introductory balance transfer term to 35 months on the newly named Platinum 35 Month Balance Transfer Visa. While borrowers will have slightly less time to pay off existing balances, it retains a competitive position in the Best Buys despite the reduction. Part of the reason why this card may still be an appealing option for borrowers is the three months 0% on purchases, which can be useful for big purchases. However, borrowers should be cautious not to spend more than they can afford to repay as the purchase APR rises to 24.9% thereafter. Adding to its appeal, borrowers can expect to receive a range of lifestyle perks, including exclusive presale tickets on selected festivals with 10% off ticket prices and up to 15% cashback from selected retailers with Barclaycard Cashback Rewards. On assessment, the card earns an Excellent Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 35 months
- Standard rate for purchases: 24.9% APR subject to status
- Balance transfer fee: 3.15% as an introductory charge during the first two months from account opening. Standard fee quoted on application. Balance must be transferred within 60 days
- 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 21. Minimum income £20,000pa. Buy tickets for up to 3,500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices. Save 10% on food and drink at all UK O2 Academy venues. Earn up to 15% cashback at selected retailers with Barclaycard Cashback Rewards.
Banking
Santander – Everyday Current Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Customers looking to switch bank accounts may be pleased to see that Santander has relaunched its £240 switching offer for new and existing customers who move to its Everyday Current Account, subject to depositing at least £1,500 and meeting other eligibility criteria within 60 days. Further adding to the account’s appeal, it is also offering 0% on arranged overdrafts for switched accounts for the first four months, which will be particularly helpful for households as we come into the expensive Christmas and new year period. However, customers should be aware that after the four months, the rate on overdrafts rises to 39.49% EAR. 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: 0% introductory rate for the first four months on switched accounts, rising to 39.94% EAR thereafter. Subject to status.
- Opening account: Online, in branch, or via its mobile app
- Managing account: Online, in branch, via its mobile app, by post and at the Post Office
- Other information: Minimum applicant age 18. £240 cashback for accounts switched using the Current Account Switch Service (CASS). Must deposit at least £1,500, set up two qualifying direct debits and fund a Santander Regular Savers with at least £200 within 60 days of request. Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Customers must be signed up to online and mobile banking to qualify. Ts&Cs apply.
Savings
Afin Bank – 1-Year Fixed Term Account (Issue 8)
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Afin Bank has increased the rates on selected Fixed Term Accounts, including its one-year option which boosts the account to the market-leading position. Now paying an attractive 5.15%, savers can guarantee their returns over the next year and it may appeal to those looking for certainty. The account requires at least a £1,000 deposit, but further additions are permitted for 14 days via a nominated account for savers who wish to amend their initial investment, which may add to its overall appeal. However, as is the case with many fixed bonds, withdrawals are not permitted, so consumers should be comfortable with losing access for the full term and it may be worthwhile having a separate flexible pot to cover emergency expenses. On assessment, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.15% gross / 5.15% AER payable on anniversary
- Notice / term: One-year
- Minimum opening amount: £1,000
- Maximum investment amount: £200,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening via nominated account
- Opening account: Mobile app
- Managing account: Mobile app and by phone
- Other information: Minimum applicant age 18.
Castle Trust Bank - 2 Year Fixed Rate e-Cash ISA
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Castle Trust Bank has increased the return on its 2 Year Fixed Rate e-Cash ISA and now pays a joint market-leading rate at 5.10%. The account may be an ideal option for savers looking to maximise and guarantee their tax-free returns over the next two years. Savers will need to invest at least £1,000 but if the minimum investment is not met within 14 days then their balance will be refunded, and no interest will be paid. Those with larger balances may be pleased to note that further additions are permitted for 14 days and can invest as much as £500,000. It’s important savers are comfortable with locking away their cash for the full term, otherwise they could face a 180-day loss of interest penalty and the closure of the account, so this should be carefully considered. On assessment, this receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.10% gross / 5.10% AER payable on maturity
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £500,000
- Access: Earlier access on closure only 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, on closure only subject to 180-day 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. Investors can choose to split their Cash ISA savings across multiple ISAs within Castle Trust Bank’s range. If minimum investment not made within 14 days of account opening, no interest is paid and the balance is refunded. Castle Trust Bank will plant a tree when an e-Cash ISA is opened and funded within the 14-day funding window.
Cards
Barclaycard – Platinum 35 Month Balance Transfer Visa
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from Barclaycard sees it reduce the 0% introductory balance transfer term to 35 months on the newly named Platinum 35 Month Balance Transfer Visa. While borrowers will have slightly less time to pay off existing balances, it retains a competitive position in the Best Buys despite the reduction. Part of the reason why this card may still be an appealing option for borrowers is the three months 0% on purchases, which can be useful for big purchases. However, borrowers should be cautious not to spend more than they can afford to repay as the purchase APR rises to 24.9% thereafter. Adding to its appeal, borrowers can expect to receive a range of lifestyle perks, including exclusive presale tickets on selected festivals with 10% off ticket prices and up to 15% cashback from selected retailers with Barclaycard Cashback Rewards. On assessment, the card earns an Excellent Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 35 months
- Standard rate for purchases: 24.9% APR subject to status
- Balance transfer fee: 3.15% as an introductory charge during the first two months from account opening. Standard fee quoted on application. Balance must be transferred within 60 days
- 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 21. Minimum income £20,000pa. Buy tickets for up to 3,500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices. Save 10% on food and drink at all UK O2 Academy venues. Earn up to 15% cashback at selected retailers with Barclaycard Cashback Rewards.
Banking
Santander – Everyday Current Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Customers looking to switch bank accounts may be pleased to see that Santander has relaunched its £240 switching offer for new and existing customers who move to its Everyday Current Account, subject to depositing at least £1,500 and meeting other eligibility criteria within 60 days. Further adding to the account’s appeal, it is also offering 0% on arranged overdrafts for switched accounts for the first four months, which will be particularly helpful for households as we come into the expensive Christmas and new year period. However, customers should be aware that after the four months, the rate on overdrafts rises to 39.49% EAR. 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: 0% introductory rate for the first four months on switched accounts, rising to 39.94% EAR thereafter. Subject to status.
- Opening account: Online, in branch, or via its mobile app
- Managing account: Online, in branch, via its mobile app, by post and at the Post Office
- Other information: Minimum applicant age 18. £240 cashback for accounts switched using the Current Account Switch Service (CASS). Must deposit at least £1,500, set up two qualifying direct debits and fund a Santander Regular Savers with at least £200 within 60 days of request. Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Customers must be signed up to online and mobile banking to qualify. Ts&Cs apply.
