Bonus Offer Helps To Boost Savings | moneyfacts.co.uk

Moneyfacts.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 Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.

MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 10/08/2020

From today, Raisin UK is changing how the bonus structure on its savings accounts works, which could result in savers earning up to £50 simply by opening a savings account.
Under the new bonus structure, savers depositing £75,000 and over can earn a £50 bonus, those depositing £40,000 - £74,999 can earn £25, a deposit of £10,000 - £39,999 can earn £10 and those depositing £5,000 - £9,999 can earn £5. There is no bonus offered on deposits of less than £5,000.

As well as this, Raisin UK is allowing a grace period for customers depositing between £5,000 - £9,999, who will be worse off with this new bonus structure. The automatic grace period allows anyone who funds their first savings account with the amount of £5,000 - £9,999 by the 31 August 2020 to receive a £10 bonus instead of the new bonus of £5.

Bonuses are offered to those opening their first Raisin UK account and the account must be opened via its website.

Competitive Raisin UK rates

Raisin UK offers a wide range of savings accounts, many of which offer highly competitive rates. For example, in the one year fixed rate bond chart, QIB (UK) tops the chart with a Raisin UK product. Its Raisin UK – 1 Year Fixed Term Deposit pays an expected profit rate of 1.20% gross on maturity. While its Raisin UK – 18 Month Fixed Term Deposit pays an expected profit rate of 1.25% gross on maturity. In the two year chart, QIB (UK) again offers the top rate with a Raisin UK product. Its Raisin UK – 2 Year Fixed Term Deposit pays an expected profit rate of 1.40% gross on maturity.

Meanwhile, in the five year fixed rate bond chart, Gatehouse Bank offers a competitive rate with a Raisin UK product. Its Raisin UK – 5 Year Fixed Term Deposit pays an expected profit rate of 1.25% gross on maturity.

Disclaimer

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 Any products featured may be withdrawn by their provider or changed at any time.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.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy