Check out this week’s best new financial deals

Savings

Tesco Bank has increased the rate on its easy-access account, which now pays 1.16%, including a bonus of 0.41% for 12 months. Savers can invest from £1 but any balance over £1m will be subject to a lower rate of 0.75%. Withdrawals can be made at any time but a daily withdrawal limit of £10,000 is in operation to non-Tesco Bank accounts, while a higher limit of £100,000 is given for withdrawals to Tesco Bank accounts in the saver’s own name. This deal is for savers aged 18 and over and must be operated online.

It’s good because: This rate rise enhances the appeal of the account at a time when other savings rates are falling.

 

Britannia has increased rates across its fixed bonds, with its one-year fixed-rate bond now paying 1.5% on maturity. Savers can invest from £1,000. Neither early access nor further additions are permitted. This deal is for all savers and can be operated in branch and by post.

It’s good because: This is likely to appeal to those looking for a familiar brand over the short term.

 

Mortgages

Leek United Building Society has launched a five-year fixed-rate mortgage, which is now priced at 2.25% until August 2021. This deal is for customers who borrow between £30,000 and £600,000 at 75% loan-to-value (LTV). There is a fee of £995, of which £895 can be added to the advance. Overpayments of up to 10% of the outstanding balance are allowed.

It’s good because: Borrowers eager to fix their mortgages over the longer term might find this deal appealing.

 

Post Office Money has dropped the rate on its two-year fixed-rate mortgage, which is now priced at 2.08% until May 2018. This is for customers who borrow a minimum of £25,001 at 80% LTV. There is no application fee, and an incentives package of free valuations for all borrowers and free legal fees for remortgage customers is available. Overpayments of up to 10% of the outstanding balance are allowed.

It’s good because: This is competitively priced for borrowers with a 20% deposits. With no upfront fee and its other incentives, this could attract borrowers looking to keep upfront costs to a minimum.

 

Loans

Ikano Bank has amended the rates on some tiers of its unsecured personal loans. Customers can now apply for loans of between £7,500 and £15,000 over one to five years at a rate of 3.2% – the lowest rate currently available at this tier. Applicants must be at least 18 and have a minimum household income of £10,000 a year. Applications must be made online.

It’s good because: This is a market-leading deal that could be a great choice for people looking to consolidate their debts.

 

Credit cards

Virgin Money has extended the 0% introductory balance-transfer offer on its credit card to a market-leading 40 months, with an introductory fee of 2.59%. Purchases are also interest-free for three months. After the deals end, transfers will be charged at 18.9% a year while standard purchases will be charged at 18.9% APR. Applicants must be at least 18 and apply online or by telephone. The offer is available only until 25 May.

It’s good because: This card fully deserves its “outstanding” Moneyfacts rating and could be a great choice for those looking to spread their debt across the longer term to focus on clearing the balance.


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