Best money deals this week - November 26th

For a rewarding current account…

  • Nationwide Building Society has launched Simply Rewards. Current account customers will now be able to receive up to 35 per cent cashback when spending with selected retailers including Argos, Lowcostholidays and All Bar One. To access the cashback, customers must register online.
  • Verdict: Nationwide’s current account is a great perk for existing current account customers or anyone considering switching to a Nationwide deal. However, to earn cashback customer purchases must meet the offer’s terms and conditions.

For a best buy one-year savings bond…

  • FirstSave has increased the rate on its one-year fixed-rate bond, which now pays 2.12 per cent upon its anniversary or 2.10 per cent monthly. Savers must invest from £1,000 if the anniversary option is chosen and £5,000 for the monthly option. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated online only.
  • Verdict: This bond is highly competitive, moving into the top five of its sector. Sitting within the Best Buys this is likely to be a great choice for any saver looking for a short-term home for their savings. However, with no early access to funds, savers will need to be happy to lock their money away.

For a competitive three-year fixed-rate ISA…

  • Norwich & Peterborough Building Society has launched a new three-year fixed rate ISA, which pays 2.30 per cent yearly. Savers can invest from £100. Additions are not permitted; however, early access is allowed subject to 180 days’ loss of interest. Transfers in from both cash and stocks & shares ISAs are accepted upon account opening. This deal is for savers aged 16 and over and can be operated in branch, by post and online.
  • Verdict: This latest launch from N&P is highly competitive, holding a joint market-leading place in its sector. With the extra flexibility of early access subject to a penalty, this is a great choice for anyone who has yet to invest this year’s ISA-allowance.

For a cheaper five-year fixed-rate homeloan…

  • Tesco Bank has reduced the rate on its five-year fixed-rate mortgage, which is now priced at 2.59 per cent to December 31, 2021. This deal is for all applicants who borrow from £40,000 at 80 per cent loan-to-value. A fee of £995 is payable, of which £800 can be added to the advance of the mortgage. An incentive package for remortgage customers of free valuation and free legal fees is available, and Tesco Clubcard holders will receive one Clubcard point for every £4 made in mortgage repayments. This deal has the flexibility of being able to make overpayments of up to 20 per cent of the outstanding balance and take payment holidays. Tesco's lending area includes Scotland.
  • Verdict: This five-year fixed-rate from Tesco Bank enters the market as the joint lowest in its sector. With a competitive rate and great incentive package for remortgage customers, this deal enters the Best Buys and is likely to be a popular choice for many. In addition, Clubcard holders will receive the added benefit of extra points to spend in store.

Thanks to Charlotte Nelson of Moneyfacts.

  • Read our highlights of the Autumn Statement and Spending Review here.