Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.
A healthy credit score has its benefits, so make sure you manage your debt correctly.
Before you start university, make sure to organise your finances.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
A healthy credit score has its benefits, so make sure you manage your debt correctly.
Before you start university, make sure to organise your finances.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
The account only allows four penalty-free withdrawals per year.
Coventry BS launched an easy access account offering 4.00% AER today. Named the Four Access Saver (Online), this offer requires a minimum deposit of £1 and is online-operated.
The launch means that it pays the joint-highest easy access rate on the market, with West Brom BS and HSBC also offering a rate of 4.00% AER. However, both accounts come with restrictions.
West Brom BS’s account doesn’t facilitate internet banking, and can only be opened in branch or via the post, while HSBC’s rate is only paid on balances up to £10,000. Added to this, HSBC’s online Bonus Saver only pays this rate if no withdrawals are made that calendar month.
Coventry BS’s new easy access account comes with its own restrictions too.
Mainly, it only allows four withdrawals per calendar year. On the fifth withdrawal, its users will receive a 50-day loss of interest penalty on the amount withdrawn.
Coventry BS’s latest product launch comes at a time when variable savings rates are on the rise.
At the beginning of May the average easy access rate stood at 2.06% gross and has since risen to 2.27% gross yesterday.
During this period the Bank of England increased the base rate to 4.5% and the Office for National Statistics released unexpected inflation data.
Last week the Treasury Select Committee, which forms part of the Government, encouraged UK savers to shop around for a better savings deal if they felt they weren’t getting full value from their provider.
“With the Bank of England confirming the pass through of base rate increases to easy access savings accounts has been unusually weak, it’s clearer than ever that the nation’s biggest banks need to up their game and encourage saving,” added Harriett Baldwin MP, Chair of the Treasury Committee.
This came after the Committee launched an investigation into how several “scale challenger” providers set their easy access rates. The probe included questions for the likes of Virgin Money and Santander, who claimed they took more than just the base rate into account when setting their rates.
All of our newsletters are available free by email to all Moneyfactscompare.co.uk users.
Send me Weekend Moneyfactscompare, Savers Friend, Companies Friend and selected third-party offers.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year ISA paying 5.26% AER, and a five-year fixed rate mortgage at 4.49%.
Each week the Moneyfactscompare.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Metro Bank and Ulster Bank continue to offer some of the highest easy access rates this week, but there are new entries across the sectors.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Changes at the top of the charts for fixed and notice accounts, with best easy access rates staying the same.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year ISA paying 5.26% AER, and a five-year fixed rate mortgage at 4.49%.
Each week the Moneyfactscompare.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Metro Bank and Ulster Bank continue to offer some of the highest easy access rates this week, but there are new entries across the sectors.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Changes at the top of the charts for fixed and notice accounts, with best easy access rates staying the same.
Moneyfactscompare.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.
I accept. Read our Cookie PolicyMoneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.