You are here: Home - Saving-Banking - News -

Best easy access rate of 2018 launches

0
Written by:
28/08/2018
Easy access savings rates are still stubbornly low but competition in the space seems to be hotting up with the launch of the best deal of 2018 so far.

UPDATED: As of 5pm today, this rate has now been cut from 1.41% to 1.34%

Bank of Cyprus UK has jumped to the top of the best buy tables with an account paying 1.41%, just beating the next best easy access deal from Coventry Building Society, which offers 1.40%.

The Bank of Cyprus UK’s account comes with a bonus of 0.56% for the first 12 months, which means savers should make a note to review their account in a year’s time.

It also allows unlimited withdrawals, unlike the Coventry option, which permits just three penalty-free withdrawals per year.

It can only be opened and managed online and the minimum deposit is £1.

Anna Bowes, co-founder of independent savings advice site, Savings Champion, said: “Some may be wary of using a provider that they are not familiar with but they should be reassured to know that Bank of Cyprus UK has a UK banking licence and is part of the UK Financial Services Compensation Scheme – so funds of up to £85,000 per person, are fully protected.”

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week