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Hot money deals, 26 July 2012

Which? experts round up the best money deals

Holiday money

This week, we track down the best savings accounts and cash Isas, as well as the leading credit card and loan deals. We also provide an essential guide to the Euro crisis and what it means for UK consumers.  

Best Rate savings accounts

  • Instant access savings: KRBS’s Direct Savings and Santander’s eSaver Issue 5 accounts top the best instant-access savings table at 3.20%.
  • One-year fixed-rate savings: The Co-operative Bank offers the top-paying one-year fixed-rate savings account at 3.50% on minimum deposits of £1,000.  
  • Three-year fixed-rate savings: Secure Trust Bank offers the best three-year fixed-rate savings deal at 4.01%. The Co-operative Bank and Saga are next at 4.00%.
  • Five-year fixed-rate savings: BM Savings currently leads our five-year fixed-rate savings account table, paying 4.20% on balances of at least £1.

Best Rate cash Isas

  • Instant access cash Isa: Santander offers the best instant-access cash Isa deal, paying 3.30% (including a 2.80% bonus payable for a year) from initial balances of £2,500.
  • 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: Marks & Spencer Money currently tops our three-year fixed-rate cash Isa table, paying 3.75% 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 4.15% 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 0.5%. 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 offers a representative rate of 7.5% APR for a £5,000 loan.
  • For those borrowing £10,000 over five years: Sainsbury’s, Derbyshire Building Society, Clydesdale Bank and Yorkshire Bank offer a representative rate of 5.9% APR for a £10,000 loan.

And finally… this week’s tip

As the Euro crisis continues to worsen, we provide essential information to help you ride out the storm.

Our Euro crisis guide, will help you find out if your savings account is protected, minimise the risk of your investments falling, we provide advice for overseas property owners and some helpful tips to protect yourself if you are planning a holiday to Greece.

More on this…

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