Martin Lewis shares ‘best buys’ savings accounts | Personal Finance | Finance
Martin Lewis’s Money Saving Expert has identified this week’s “best buy” easy access savings accounts, including one offering 5% on up to £25,000. Analysis from MSE shows app-only provider, Revolut, is offering this rate for six months to new customers until December 4.
The account offers unlimited withdrawals via its current account, which MSE says is free and easy to open. Interest is paid daily and the account can be opened via Revolut’s app. Cahoot, meanwhile, is offering the same rate, 5% AER, on its Sunny Day Saver account on balances up to £3,000 for 12 months. Because it is easy access, savers can add and withdraw money whenever they want to.
For savers who prefer to park their cash with big name banks and building society’s MSE lists Ulster Bank’s Limited Edition Saver.
You can open the 12 month account with £5,000 and deposit a maximum of £3million to secure a 1.55% AER rate and fixed bonus of 2.75% AER. MSE hails Ulster Bank’s account as “fuss-free”.
Yorkshire Building Society’s Triple Access eSaver is offering a rate of 4.2% AER. It allows withdrawals to be made on three days per year.
This online account can be opened with as little as £1, with a maximum £500,000 permitted. Interest is paid one year on from the date the account was opened.
Cahoot’s Simple Saver offers a variable rate of 4.17% on an account lasting for 12 months. This one can be opened with £1, with the maximum amount that can be paid in totalling £500,000.
Interest can be paid monthly or annually on the account, which can be opened online. Cahoot is part of Santander.
Two final easy access options from “big name” providers that are listed this week by MSE are from Tesco Bank and the Post Office.
Tesco Bank’s Internet Saver is offering 4.16% AER, including a 12 month, fixed bonus of 3.11% AER on balances up to £1million.
Savers can withdraw any amount whenever they want to without incurring any fees and an account can be opened with just £1. There are no limits to how much can be saved in this account.
The Post Office’s Online Saver account lets savers choose whether to take interest monthly or annually.
This account can be managed online and offers 4.15% AER, including a 3.25% fixed bonus for 12 months. Online Saver is backed by the Bank of Ireland UK.
All the rates listed above are current at the time of writing, but subject to change. This article is for information purposes only.
