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Hot money deals, 20 June 2012

Which? experts round up the best money deals

Budget wedding, happy couple

Sticking to a budget doesn’t mean your wedding can’t be stylish and special

This week, we track down the best savings accounts and cash Isas, as well as the leading credit card and loan deals. We also help you to cut the cost of your wedding.

Best savings accounts

  • Instant access savings: Santander’s eSaver Issue 5 account tops the best instant-access savings table at 3.20%. The rate includes a 2.70% bonus payable for 12-months.
  • One-year fixed-rate savings: Governor Money’s Clydesdale Bank Fixed Rate offers the top-paying one-year fixed-rate savings account at 3.50% on minimum deposits of £1,000.  
  • Three-year fixed-rate savings: BM Savings and Close Brothers Savings offer the best three-year fixed-rate savings deals at 4.00%. You can open the BM Savings account with just £1.
  • Five-year fixed-rate savings: Secure Trust Bank currently leads our five-year fixed-rate savings account table, paying 4.45% on balances of at least £1,000.

The market’s best cash Isas

  • Instant access cash Isa: Cheshire BS offers the best instant-access cash Isa deal, paying 3.35%. However, this account do not accept transfers in from other providers. The top account that does accept transfers in is Santander’s Direct Isa, paying 3.30%.
  • One-year fixed-rate cash Isa: Santander offers the top one-year fixed-rate cash Isa account at 3.50%. This account can be operated at a branch, by post or over the phone.
  • Three-year fixed-rate cash Isa: Halifax currently tops our three-year fixed-rate cash Isa table, paying 4.00% on initial balances of at least £500.
  • Five-year fixed-rate cash Isa: Halifax currently leads our five-year fixed-rate cash Isa table, paying 4.25% on balances of £500 and above.

Best 0%-on-purchases credit cards

These cards won’t charge you interest on your shopping for up to 18 months. Make sure you make the minimum payment each month or you’ll lose the deal.

  • NatWest/RBS YourPoints World MasterCard – offers 18 months 0% purchases for customers who apply online. The card also comes with a loyalty scheme at a rate of 1%. Points can be redeemed against flights and other travel products or for goods at some popular high street names.  
  • Tesco Clubcard MasterCard currently offer the next best deal with 16 months interest-free. The card also comes with a reward scheme.
  • The Marks & Spencer MasterCard and Halifax All in One MasterCard offer the next best deals with 15 months interest-free.

Take a look at our 0%-on-purchases credit card table for more great 0% deals.

The cheapest unsecured personal loans

In our best rate personal loan tables we show the lowest rates available for loans that aren’t exclusive to specific account holders or existing customers of banks or other institutions. 

  • For those borrowing £5,000 over three years: Sainsbury’s and Santander offer a representative rate of 7.6% APR for a £5,000 loan.
  • For those borrowing £10,000 over five years: M&S Money, Sainsbury’s, Tesco Clydesdale Bank and Yorkshire Bank all offer 6% APR.

And finally… this week’s tip

If you are in the process of planning your wedding, it’s worth paying for anything that costs more than £100 and up to £30,000 with a credit card so you can claim under section 75 if there is a breach of contract. For more money-saving tips read our guide on 10 ways to cut the cost of your wedding.

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