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Product launches of the week

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Written by:
14/03/2014
TSB unveils 5 per cent current account; Nationwide launches fixed-rate ISAs; Bank of Scotland introduces lowest fee 0 percent balance transfer card.

Savings

TSB Bank has launched its Plus bank account, which offers a market leading 5 per cent credit interest on balances up to £2,000. With a minimum monthly deposit of £500 and no monthly fee, the new account is available to new and existing customers.

Nationwide Building Society has launched a range of Fixed Rate ISAs offering interest rates of 1.5 percent (one-year), 2.25 percent (three-years) and 2.5 percent (five-years). The fixed-rate ISAs offer monthly interest.

Nationwide has also launched a range of fixed-rate bonds, starting with a six-month bond paying 1.10 per cent p.a./AER and escalating up to a 2.5 per cent p.a./AER for a five-year fixed rate bond.

Credit

The Bank of Scotland introduced a 0 percent balance transfer card with a fee of 0.7 per cent on balances transferred within the first 90 days. The card, which is available online only, offers customers a 15 month interest-free period on balance transfers and 6 months interest-free on new purchases. Following the introductory period the card’s APR reverts to 17.99 per cent.

Sainsbury’s Bank has lowered the rate on its Sainsbury’s Low Rate Nectar Credit Cart to 6.9 perc ent APR and extended the interest free period on purchases and balance transfers on its Sainsbury’s Nectar Credit Card to 16 months. The card doubles Nectar points on Sainsbury’s shopping.

Insurance

Sainsbury’s is offering new pet insurance customers 5,000 nectar points (worth £25). The offer is available up to and including 24 April; double Nectar points are available for those purchasing Premier or Premier Plus policies.

 

Utilities

First Utility’s iSave Fixed May 2015 energy plan costs an average of £1,013 a year, the cheapest tarriff offering by £2. The tariff includes gas and electricity, though exit fees must be paid on both to back out of the contract.

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