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1 week ago | 
moneyfactscompare.co.uk | Rhiannon Philps |James Brooks
The high street bank is offering a competitive cash incentive to switchers. Those wanting to switch their bank account now have another cash offer to consider after Santander launched a new incentive yesterday (29 May). The high street bank is offering a £180 cash bonus to anyone who switches to an eligible account (online or in branch) using the Current Account Switch Service (CASS). However, this offer may be withdrawn at any time.
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2 weeks ago | 
moneyfactscompare.co.uk | Rhiannon Philps |James Brooks
All average fixed savings and ISA rates fell month-on-month for the first time in six months. Nearly all average savings and ISA rates fell in the month to May, with only the average easy access savings rate bucking the trend and seeing a slight uptick. This is according to the latest Moneyfacts UK Savings Trends Treasury Report which analyses data from the savings market each month.
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1 month ago | 
moneyfactscompare.co.uk | Rhiannon Philps |James Brooks
At a glance
Credit unions are not-for-profit organisations, run by and for their members. To join a credit union, you typically need to have a “common bond” with other members, such as location or employment. Credit unions can offer savings accounts, loans and other financial services.
What are credit unions? Credit unions are a not-for-profit, financial co-operative.
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1 month ago | 
moneyfactscompare.co.uk | Rhiannon Philps
News contents
The tax risk
Even with the increased interest rates, how competitive are British Savings Bonds? National Savings and Investments (NS&I) launched new issues of its one- and five-year British Savings Bonds today (15 April), which now sit alongside its two- and three-year accounts. This is the first time NS&I has offered these four different terms at the same time since 16 February 2010.
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1 month ago | 
moneyfactscompare.co.uk | Rhiannon Philps
At a glance
Help to Save accounts are available to those claiming and receiving specific benefits. They allow you to save between £1 and £50 each calendar month. It’s possible to earn up to £1,200 with a Government bonus.
What is Help to Save? Help to Save is a Government-backed savings account, operated by National Savings and Investments (NS&I), that lasts for a maximum of four years.
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2 months ago | 
moneyfactscompare.co.uk | Rhiannon Philps
Savers can now secure a higher fixed rate than one month earlier. After seeing a steady decline in recent months after several cuts to the base rate, it’s refreshing to see fixed savings rates buck this trend by increasing between March and April. Average and leading rates across the entire fixed bond sector all rose month-on-month after a number of significant increases by providers, analysis by Moneyfactscompare.co.uk revealed.
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2 months ago | 
moneyfactscompare.co.uk | Rhiannon Philps
ISAs continue to be popular among savers with just a few days left until the new tax-year starts. Savers deposited an extra £3.6 billion into cash ISAs in February , according to the latest Money and Credit release from the Bank of England. This is up from £3.2 billion in January . February’s figure marks the highest sum deposited into cash ISAs in a single month since September 2024, when a total of £3.9 billion was added to these tax-free accounts.
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2 months ago | 
moneyfactscompare.co.uk | Rhiannon Philps
There’s still time to check your savings are working hard enough for you. While savers have been taking advantage of their ISA allowance this tax-year, many could be maximising the return on their hard-earned cash. More than £52 billion is sitting in instant access adult cash ISAs earning interest of 2% or below, according to analysis of CACI data by Paragon Bank. This total is split between 7.2 million accounts, with each account holding an average balance of approximately £7,252.
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2 months ago | 
moneyfactscompare.co.uk | Rhiannon Philps
Yet another current account switch incentive hits the market in the first few months of 2025. NatWest has become the latest provider to launch a current account switching bonus this year, with the bank now offering £150 to customers who move to one of its Reward current accounts. This switch incentive launched on 11 March 2025 and is available to new customers, as well as those who already bank with NatWest.
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2 months ago | 
moneyfactscompare.co.uk | Rhiannon Philps
Average mortgage rates fell throughout February as the average shelf-life of a deal dropped to just 16 days. As lenders cut rates in February, average two- and five-year fixed mortgage rates saw their largest monthly drop since the start of October 2024, according to the most recent Moneyfacts UK Mortgage Trends Treasury Report.
