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The best savings accounts and credit cards on the market this week

Emma Lunn
Written By:
Emma Lunn
Posted:
Updated:
22/12/2022

Moneyfacts has analysed the best savings accounts and credit card products on the market this week.

Savings best buys this week come from Hodge Bank and Harpenden Building Society. Meanwhile, Natwest has a competitive credit card deal for both purchases and balance transfers.

Savings

Hodge Bank has a 1 Year Fixed Rate Bond paying 4.25%, which is 0.1% more than previously. Interest is payable on maturity but there is also a monthly interest option of 4.17% gross. You need £1,000 to open an account and can deposit up to £1m.

Eleanor Williams, finance expert at Moneyfacts, said: “As is common with many fixed accounts, earlier access to funds is not permitted, so savers need to be happy to secure their cash away for the term of the account, but there is a little flexibility for investors to make further additions for 10 days from account opening.”

If it’s an ISA you’re after, Harpenden Building Society’s Triple Access Cash ISA pays 2.6% gross, with interest payable yearly. But the rate reduces to 1.60% gross if four or more withdrawals are made per calendar year. You can open the account with £1 and deposit up to your annual ISA allowance of £20,000.

“This account may well tempt savers who want to maintain some flexible access to their money, and who are still looking to make the most of their tax-free ISA allowance,” said Williams, “Savers are advised that if four or more withdrawals are made then the rate paid reduces to 1.60%, however, they can make further additions to the account, which may boost its appeal further for some savers.”

Credit cards

You can get 0% interest deals for both purchases and balance transfers for 24 months with Natwest’s Purchase and Balance Transfer Credit Card Mastercard.

After the promotional period ends, the APR for purchases is 22.9%. There is a balance transfer fee of 2.9% for balances transferred in the first three months.


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