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A healthy credit score has its benefits, so make sure you manage your debt correctly.
Discover the best travel insurance policy for your next trip.
Find current accounts offering in-credit interest rates up to 5.00% AER.
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.
Discover the best travel insurance policy for your next trip.
Find current accounts offering in-credit interest rates up to 5.00% AER.
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.
As consumers deal with the rising cost of living they may now be looking to clean up their finances. Moneyfacts has prepared some top tips for those who spend, save, and how much they could save by switching their existing accounts.
This month marks the second anniversary of the UK first going into lockdown, and its effect was detrimental to many consumers and businesses alike. Some were able to survive financially throughout the pandemic, but others were not so fortunate. The influence the pandemic has created on the mindset may have drastically changed how someone spends their cash today, and now planning for uncertainties is much more of a priority.
Saving little and often is the key to building a nest egg and there are now apps that can do this automatically. Chip is a free app that makes automatic deposits based on a user’s spending habits by connecting to a current account through Open Banking. There are other automated savings apps around too and, as it can be difficult for consumers to get into the right mindset to save, even downloading an app can be a good starting point. If someone saved £3 a day, they could accumulate almost £100 in a typical month.
ISAs can be beneficial to savers not just for their tax-free wrapper, but those looking to save up for their first home or retirement can get a Government bonus of 25% on their investment with a Lifetime ISA. ISAs are also much more flexible than they used to be, as savers can now withdraw their cash with ISAs that fall under Flexible ISA rules, however not every provider offers this option. Savers could discover providers that also allow them to split their cash ISA savings across fixed and variable products in one place, ideal for those who want to spread their cash between easy access and lock into a higher rate. Savers may also be eligible for a Personal Savings Allowance, which allows basic rate taxpayers to take home up to £1,000 worth of savings interest tax-free each year (£500 for higher rate taxpayers), so it’s worth comparing deals away from ISAs carefully with this in mind.
Easy access accounts are a sensible option for consumers looking to squirrel away a bit of cash for emergencies. Interest rates are also on the rise for these accounts, on average they return 0.30% based on a £10,000 deposit, which is the highest return since June 2020. The top rates are improving at a decent pace, and some deals now pay 1%, the highest return since November 2020 when NS&I held the top spot. In the weeks to come we may see even more top deals on the market, and due to their flexibility, savers can simply switch if they find something better.
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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 Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons yesterday. It’s anticipated to be one of the Government’s last fiscal events before a General Election takes place in less than a year’s time. Find out what some of the measures announced mean for your finances.
Find out what some of the measures announced in the 2024 Spring Budget mean for your finances.
App-based savings provider, Chip, launched its first product into the cash ISA market today, following “a year of rapid growth for the business in 2023”. Its Chip Cash ISA (powered by ClearBank) takes a competitive position on our easy access ISA chart, paying 4.75% AER monthly.
The Chip Cash ISA (powered by ClearBank) pays 4.75% AER.
This marks the fourth consecutive time the base rate has gone unchanged.
This marks the fourth consecutive time the base rate has gone unchanged.
The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons yesterday. It’s anticipated to be one of the Government’s last fiscal events before a General Election takes place in less than a year’s time. Find out what some of the measures announced mean for your finances.
Find out what some of the measures announced in the 2024 Spring Budget mean for your finances.
App-based savings provider, Chip, launched its first product into the cash ISA market today, following “a year of rapid growth for the business in 2023”. Its Chip Cash ISA (powered by ClearBank) takes a competitive position on our easy access ISA chart, paying 4.75% AER monthly.
The Chip Cash ISA (powered by ClearBank) pays 4.75% AER.
This marks the fourth consecutive time the base rate has gone unchanged.
This marks the fourth consecutive time the base rate has gone unchanged.
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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.