Every week we highlight some of the best personal finance deals currently available. These deals are selected based on their competitive rates and features that benefit consumers. We’ll include a selection of market leaders as well as new products entering the market.
This is only a selection of the financial products available, those looking for a new savings, mortgage, loan or credit card deal should use our charts to compare the best deals.
Paragon Bank – 2 Year Fixed Rate Cash ISA
Savers looking for a two year fixed rate ISA will find that the best deal this week comes from Paragon Bank, which offers the top rate of 1.01% AER on its 2 Year Fixed Rate Cash ISA. This ISA can be opened with a deposit of just £500 and savers can make further additions for 15 days from the initial deposit. Earlier access is permitted on this ISA but subject to 180 days’ loss of interest. Transfers in are accepted. Transfers out are subject to the same interest-loss penalty as earlier access. This ISA can be opened and managed online and by post.
NatWest – Digital Regular Saver
Consumers looking to start a regular savings habit or who are saving towards a specific goal may want to consider a regular savings account. One of the most competitive accounts in our regular savings account chart this week is NatWest’s Digital Regular Saver. This account pays 3.04% AER on deposits up to £1,000 and then 0.01% on deposits above this amount. Savers should be aware that interest is added differently on regular savings accounts than other types of savings accounts, more information about which can be found here. The NatWest account requires no minimum deposit to open and allows monthly deposits of up to £50. Unlimited withdrawals can be made. To open the account savers must have, or open, a NatWest current account. This account also has the benefit of entry into a prize draw to win £1,000 if it is opened in August and a standing order is set up for between £1 and £50 and payments are made in September, October and November (terms and conditions apply). The account can be opened online or via mobile app and then managed online, in branch, by post, by phone and via mobile app. Savers should be aware that when opening this account a standing order must be set up for any amount between £1 and £50.
Santander – two year fixed remortgage
Homeowners looking to remortgage and who own 30% equity in their home (70% loan-to-value) will find one of the most competitive deals this week comes from Santander. This deal offers 1.09% (3.0% APRC) fixed until 2 December 2023 and then reverts 3.35%. It does not charge any product fees and comes with the incentive of £250 cashback on completion or free legal fees, as well as free valuation fees to a maximum of £1,190 for those in England, Wales and Northern Ireland or £95 towards valuation fees for those in Scotland.
M&S Bank – Personal Loan
Borrowers looking for a loan of £7,500 spread across five years will find that M&S Bank had one of the most competitive deals this week. Its Personal Loan offers 2.8% APR on loans of £7,500, which would result in monthly repayments of £133.98 during the five year term. The total amount to be repaid, including the interest added, is £8,038.80. To apply for this loan, borrowers must have a minimum income of £10,000 and it can be applied for and managed in branch, online and by phone.
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. Moneyfacts.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.