took out NS&I's fixed rate Guaranteed Growth Bond paying 6.2 per cent almost a year ago and it is about to mature. What are the best deals that I can get now, and should I try to use a cash Isa?
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OUR MOST POPULAR SAVINGS TABLES
- Top EASY-ACCESS deals with rates of up to 5%
- Best FIXED-RATE savings with interest as high as 6.2%
- CASH ISAS for tax-free savings: Rates as high as 5.78%
- The very best of NS&I: Premium Bonds at 4.65%
- MONTHLY INCOME seekers: Top rates of up to 6.03%
- Sign-up to our SAVINGS ALERT service for latest rates
BEST SAVINGS RATES AND BANK ACCOUNTS
MORE SAVINGS NEWS AND TIPS
Aged between 18 and 22? Check for your savings pot as it's revealed £1.4bn has been left unclaimed in child trusts
More than 670,000 people in this age group have a combined £1.4 billion in matured Child Trust Funds that have yet to be claimed. These funds are long-term, tax-free savings accounts that were set up for every child born between September 1, 2002, and January 2, 2011, with the Government depositing £250.
Yorkshire hit by bank crisis with as many as two-thirds of branches in the region closing since 2015
As many as two-thirds of branches in the region have closed since 2015, leaving 4.4 per 100,000 people. The East Midlands has the second-worst access to banks, with just 4.6 branches per 100,000 people. There are now 30 parliamentary constituencies without a bank - nine of which are in Yorkshire and the Humber.
How lucky are YOUR Premium Bonds? We investigate why some numbers and letters seem more likely to win the £1m jackpot
Common beliefs are that new Premium Bonds are more lucky than old ones, or that certain areas are more likely to win than others. These myths have been debunked by NS&I, which says the prize draw is totally random, and that if an area has more jackpot winners then it must have more bondholders. But are some Premium Bonds luckier than others - and is there a way to work out if you have a 'lucky' bond or not?
A third keep most of their savings in current accounts - this is how much interest they lose by making the mistake
Three in ten savers hold most of their savings in their current account, new research from the Building Societies Association reveals. Holding savings in a bank account is bad news for most savers, as they will either earn very low or no interest on their savings. Millions of savers are missing out on earning interest on their savings by keeping them stashed in current accounts.
FSCS protection: How your savings, investments and pension are kept safe
In the very unlikely event that your bank, building society or credit union goes bust, you should get your savings back thanks to FSCS protection. This official government-backed scheme also protects investments and pensions, while there are other measures in place for final salary schemes. We explain.
Watch out if you have one of these nine easy-access accounts: SYLVIA MORRIS reveals the providers quietly cutting rates on popular deals
Savers, I implore you to be on your guard. Rates on some easy-access accounts are already being cut, reducing the reward for prudent saving significantly. The Bank of England has kept the base rate steady at 5.25% for the best part of a year now. But that hasn't stopped savings providers from snipping away at the deals they offer in anticipation of a rate cut.
Will you pay tax on your savings interest? How it works, how to cut it - and if you have to tell the taxman
The rise in savings rates means many more people are forced to pay tax on their interest, as they breach the tax-free personal savings allowance. We explain everything you need to know about savings interest, from how the personal savings allowance works, to whether you will have to pay interest on your savings, and how you tell the taxman.
EXCLUSIVENationwide will scrap passbooks and replace them with a 'modernised' version - but staff fear it could lead to a 'mountain of complaints'
Nationwide Building Society will scrap passbooks in their current form from the start of February 2025, we can reveal. It will replace the passbooks with a new Savings Wallet. One staff member said boss Debbie Crosbie is on 'a mad dash' to rearrange the society network ahead of the proposed Virgin Money takeover.
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Keep calm and carry on growing savings: Make sure you use pensions and Isas to protect your wealth, says RACHEL RICKARD STRAUS
They have helped prudent households manage their finances through countless onslaughts. Because, let's face it, our wealth and savings have been under attack for decades and by successive governments. But I would think very carefully before going beyond that and making changes to your finances based on what you think Labour might do.
Premium Bonds Winners
Prize | Area | Value of bond |
£1,000,000 | Derbyshire | £40,000 |
£1,000,000 | Gloucestershire | £25,000 |
£100,000 | Oxfordshire | £25 |
£100,000 | Outer London | £500 |
£100,000 | Buckinghamshire | £20,000 |
£100,000 | York | £44,000 |
£100,000 | Surrey | £5,000 |
£100,000 | North Yorkshire | £35,975 |
SAVINGS ESSENTIALS
Savings calculator: Work out interest and investment returns on lump sums and regular monthly saving
THIS IS MONEY'S FIVE OF THE BEST CURRENT ACCOUNTS
Chase Bank will pay £1% cashback on spending for the first 12 months. Customers also get access to an easy-access linked savings account paying 3.8% on balances up to £250,000. The account is completely free to set up and is entirely app based. Also no charges when using the card abroad.
Nationwide's FlexDirect Account offers 5% in-credit interest to new joiners when they switch on balances up to £1,500. This rate only lasts for one year. The account is fee free.
Halifax Reward Account pays £150 when you switch. Also earn up to an extra £75 cashback when you spend £750 each month for 3 months. There is a £3 monthly account fee, but that’s stopped by paying in at least £1,500 each month.
First Direct will give newcomers £175 when they switch their account. It also offers a £250 interest-free overdraft. Customers must pay in at least £1,000 within three months of opening the account.
NatWest's Select Account account pays £200 when you switch. The account has no monthly charges, but to be elligible for the £200, you'll need to deposit £1,250 into the account and log into mobile banking app within 60 days.
Best savings rates: Savings platforms to manage your money in one place - with easy-access, fixed-rates and notice accounts and bonus boosters
A new wave of savings platforms have emerged in recent years which help savers keep track of their accounts more easily and move money into better rates after signing up. We round them up, look at the top rates from savings platform Raisin and reveal whether they beat the best buys in our independent This is Money savings tables.
HOW THIS IS MONEY CAN HELP
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Premium Bonds Winners
Prize | Area | Value of bond |
£1,000,000 | Derbyshire | £40,000 |
£1,000,000 | Gloucestershire | £25,000 |
£100,000 | Oxfordshire | £25 |
£100,000 | Outer London | £500 |
£100,000 | Buckinghamshire | £20,000 |
£100,000 | York | £44,000 |
£100,000 | Surrey | £5,000 |
£100,000 | North Yorkshire | £35,975 |
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