Moneyfacts pick of the week

Last updated: 17 July 2026 at 09:15

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market, ranging from mortgages to savings accounts. This week I've analysed the following deals, along with their perks.

Post Office Money has increased the rate on its Online Saver while also issuing a new issue number. The account now pays 4.31% AER, securing a place among the top 10 easy access accounts currently available.

Savers should be aware that the headline rate includes a bonus for the first 12 months, after which the return falls significantly, so reviewing the account once the bonus expires will be important to ensure their savings continue to earn a competitive return.

RCI Bank UK has increased the rate on its 2 Year Fixed Term Cash ISA to 4.65% AER, moving the account close to the top of the market when compared with other fixed ISAs of a similar term.

In addition to its market-leading return, savers have the flexibility to make further deposits and transfer in existing ISA funds for 14 days after opening the account, offering a useful window for those looking to consolidate their tax-efficient savings.

Barclays Mortgage has increased most of its residential fixed mortgage rates this week, although its five-year fixed mortgage for house purchase customers at 95% loan-to-value has seen a smaller increase of just 0.05%, taking the rate to 5.10% until 30 September 2031.

Despite the increase, the deal retains its place as a Moneyfacts Best Buy for first-time buyers, and it continues to offer a competitive overall package for borrowers with smaller deposits.

HSBC has reduced the introductory balance transfer fee on its Balance Transfer Credit Card to 3.09%, making it a more attractive option for borrowers looking to move existing credit card debt at a lower upfront cost.

The card now offers one of the lowest balance transfer fees available on the market, while also providing 0% interest on purchases for the first three months, adding further value for customers who expect to make new spending shortly after opening the account.

first direct may have reduced its switching incentive on its 1st Account from £200 to £175, but it is still an outstanding option for those considering a new current account provider. While the current account does not pay interest, it does offer access to a regular saver paying 7.00% AER and a £250 interest-free buffer on its arranged overdraft, which could prove particularly valuable for customers who occasionally dip into their overdraft.

Consumers considering a switch should be aware that the incentive is only available to customers who switch using the Current Account Switch Service (CASS) and pay in at least £1,000 within the first six weeks. Switchers should also look beyond the upfront incentive and assess whether the account's longer-term features suit their everyday banking needs.