Archive: MoneySavingExpert's Money Tips Email

Note updated 25/6/24 as a few of the secondary deals have changed
Martin's seven accounts every saver needs-know-about

There's a pack of recent 5% to 7% paying, outlier savings; easy access, cash ISAs, LISAs & more, all smashing the opposition. So many can easily, hugely increase their interest!

Boosting interest is usually simple: take your money out of a pee-poor interest account, then put it somewhere that pays more. Yet millions leave money earning diddly squat (check your savings, if it's under 4%, that's you). So it's time for some savings self-care. Recently a spate of providers have bucked the trend and launched top payers - we've told you about some, but I wanted to bring 'em together as the magnificent magnifyeverycent seven (feel free to groan). All accounts have full UK £85,000 savings safety protection.

1. The top 5.2% variable easy-access cash ISA beats even normal savings... A cash ISA is just a savings account you can put up to £20,000/tax year in and the interest's never taxed. Usually they pay less than normal savings, but right now Trading 212's 5.2% cash ISA* (min £1) smashes all-comers. It accepts new money and, usually, transfers from existing ISAs too, though it's paused transfers for now due to over-demand (but open it now, and it says you will be able to do it later). As it's offered by a share-trading platform, not a bank, the underlying structure's a bit complex as we explained in last week's Trading 212 briefing, but in essence it's still just a cash ISA.
   
   Next top: Cynergy 4.87% (min £1) for new money & transfers. App-only Plum 5.17% for 12mths (min £100) new money only & max 3 penalty-free withdrawals a year. See Top cash ISAs for more help & options.
   
   
2. Earn an an unbeatable 50% boost on your savings if you're on Universal Credit or Tax Credits. I know it's not a new product, but I've sneaked it in as nowt else comes close and word needs spreading. With Help to Save, you can put in up to £50/mth and get a 50% bonus on the most you have in it over two years (eg max it for a year and you've £600, yet if you then take all that out, and put no more in, you still get a £300 bonus after two years). A second bonus is paid after year four. Easy explanations in our Help to Save guide.
   
   
3. 5.1% variable easy-access savings on up to £1million (plus perks). Easy-access savings are the bog-standard place to start saving, though right now as the top cash ISA pays more, unless you're using your ISA allowance elsewhere, you could fill that first. Rates had been dropping until a rate boost from giant JPMorgan-owned app bank Chase to 5.1% AER* (min £1, max £1m, but like all savings, it's only safety-guaranteed up to £85,000).
   
   The rate applies to all new customers and any existing ones who had under £50k saved on 2 May. To get it, open its free current account, which you needn't switch to, there's no credit check (just an ID check), then open the savings. Its other perks include 1% cashback on most spending (max £15/mth) and near-perfect rates abroad. See our full Chase review.
   
   Next top: Oxbury 5.02% (min £20k), Cynergy 4.94% (min £1). Big name: Yorkshire BS 4.8%* (min £1). Earn more if you can give notice to withdraw: Vanquis Bank 5.35% with 90-day notice (min £1,000), Monument 5.27% AER with 60-day notice (min £25,000). Full info & options in Top savings.
   
   
4. Nationwide customer? You may be able to get an unbeatable 5.5% fixed savings. Fixes give you a guaranteed rate, often at higher interest, if you're prepared to lock cash away without access during the term. If you were a customer on 22 May, Nationwide's offering you an unbeatable 5.5% AER fixed for 18mths (min £1, max £10,000). The interest's accessible only at maturity, so all will count to your personal savings allowance in the 2025/26 tax year.
   
   Next top: Vanquis Bank 5.21% (min £1,000). Full options in Top fixed-term savings.
   
   
5. First-time buyers' 5% interest Lifetime ISA, on top of up to £1,000/yr state boost. 18 to 39-year-olds who've never owned a home can start a Lifetime ISA (LISA) to get a massive 25% boost on up to £4,000 savings per tax year (so £1,000/yr boost if you max it). This can then be used to buy a property worth up to £450,000 (do read our LISAs guide for full pros & cons). Moneybox's just upped its cash LISA interest to 5% AER variable for the first year (4% after, so check then if you can transfer elsewhere to beat it) for new LISAs, or transfers in (if you're new to Moneybox).
   
   Next top: Tembo 4.3%. Full options in Top Lifetime ISAs.
   
   
6. Ends 30 June. Saving over £10,000? Get a £100 bonus (can be equiv 1% boost) on near best-buy savings... MSE Blagged. Savings marketplace Hargreaves Lansdown* lets you save and move money via different banks after filling in just one form. Until the end of this month, via this link, newbies who open an account, deposit £10,000 within 60 days, and keep it there for six months get £100 cashback. While it misses the very top picks, if you put exactly £10,000 in, the bonus effectively adds 1% over a year. As its current top easy-access savings is 4.72% and one-year fix is over 5%, add one percentage point to those and they smash the best buys.
   
   
7. A year's 7% easy-access savings up to £4,000 for Santander Edge customers (or switchers to it). By far the highest easy-access savings rate available is for switchers to, or existing customers of, the Santander Edge* current account. The linked savings account pays 7% AER (4.5% variable plus a year's 2.5% bonus) on min £1, max £4,000. The current account pays switchers a free £175, and for the £3/mth fee gives 1% cashback on most household bills paid through it by Direct Debit (max £10/mth) and 1% cashback on spending at supermarkets and on fuel, train & bus travel (max £10/mth) - making it a top bank account pick anyway. See our full Santander Edge review.

New. Triple reward: FREE £140 of Amazon / Sainsbury's / M&S + £10/mth Deliveroo cashback + 4 airport lounge passes

Credit cards want you to spend on them, so much so that some pay you to do it. They of course hope they'll earn far more in interest. Yet just neuter that by setting up a Direct Debit to repay the card IN FULL each month, then provided you don't withdraw cash on it, bust your credit limit or see it as an excuse to overspend, it's interest-free and you're quids in (don't do it if not). And now a long-standing top pick has boosted its sign-up offer, clearly targeting middle Britain...

• New. Free £140 shopping + Deliveroo cashback + airport lounge passes. The American Express Preferred Rewards Gold credit card (link goes via eligibility so you can see if you'll be accepted, or you can just apply*) has increased the points you get for signing up to it, making it a powerful deal for some. You get...
  
  1) Enough bonus points to get £140 at Amazon/M&S/Sainsbury's if you spend £3,000 within 3mths. For those who haven't had an Amex card within the last two years, and who'll spend a total of £3,000+ over the first three months (so it's for higher spenders, but many families do £1,000/mth if they put all spending on it), you can currently get 25,000 bonus points (normally it's 20,000) on top of the standard one point per pound spent. So hit the trigger and you'll have at least 28,000 points, which is enough to be exchanged for...
  
  - £140 in Amazon, M&S, Currys, or £140 worth of Nectar points.
  - Or 28,000 air miles with Avios, Virgin, Emirates and other airlines, or 42,000+ Hilton, Marriott or Radisson hotel points.
  
  2) Two £5 Deliveroo cashbacks a month (worth up to £120/yr). Save the offer to your card (found under 'offers' in the Amex app or online banking) and use the card to pay for Deliveroo (min spend £5), and you'll automatically get £5 credit on two orders a month.
  
  3) Four free airport lounge passes a year (worth around £50 each). These should come within six weeks of acceptance and they're usable in many airport lounges worldwide.
  
  Warning. The card is fee-free in year one, but £195/yr after. Diarise to cancel before year two if you don't want to pay the £195. Plus if you don't repay IN FULL each month, it charges 31% APR on purchases. Make sure you've a Direct Debit in place to ensure that never happens.
  
  
• When we say pay off IN FULL, we mean IN FULL, not nearly in full. The words IN FULL are Martin's catchphrase for a reason. If you spend £1,000 in a month and clear the card entirely, there's no interest. Spend £1,000 and pay off £999, and you usually pay interest on the whole £1,000, not just the £1 left.