Best money deals this week - September 11th
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For best buy easy-access savings...

  • ICICI Bank UK has increased the rate paid on its HISAVE SuperSaver easy-access account, which now pays 1.64 per cent monthly (1.65 per cent AER). Savers can invest from as little as £1. Additions and unlimited penalty-free withdrawals are permitted at anytime without notice. This deal can be operated by phone and online.
  • Verdict: The 1.64 per cent easy-access account from ICICI Bank UK is highly competitive and sits at the top of the market. This great rate, alongside a low starting balance and unlimited withdrawals, makes this a perfect account for anyone looking to kick-start their savings habit.

For two-year fixed-rate ISA savings...

  • Virgin Money has increased the rate on its two-year fixed rate ISA, which now pays 2.06 per cent yearly or 2.04 per cent monthly. Savers can invest from as little as £1. Additions are permitted within 30 days of the account opening and early access is also allowed subject to a penalty of 90 days’ loss of interest. Transfers in from both cash and stocks & shares ISAs are accepted. This deal is for savers aged 16 and over and can be operated in branch and by post. An internet-only version is also available.
  • Verdict: Savers who have yet to invest this year’s tax-free allowance will be delighted by this latest increase from Virgin Money. Paying 2.06 per cent, this deal heads straight to the top of the Moneyfacts.co.uk Best Buys and is a great choice for savers looking to maximise their interest over the shorter term.

For those wanting to borrow £7,500-plus...

  • Tesco Bank has made significant cuts to the higher tiers of its personal loan. Customers can now apply for a loan of £7,500 to £15,000 over one to seven years and get a market-leading rate of 3.6 per cent APR. Customers must be 18 and over and be a Clubcard cardholder with a minimum annual income of £10,000. Applications can be made online or by telephone.
  • Verdict: The latest cuts by Tesco Bank focus on its loan’s higher tiers, and in turn, make this loan highly competitive with a market-leading rate of 3.6% APR for loans between £7,500 and £15,000 over one to seven years. Borrowers will find this Moneyfacts.co.uk Best Buy very cost-effective, so it will appeal to Clubcard holders looking to consolidate their debts.

For two-year fixed-rate mortgages...

  • Leeds Building Society has reduced its two-year fixed-rate mortgage, which is now priced at 1.95 per cent until 30.11.17. This deal is for all applicants who borrow up to £500,000 at 80 per cent loan-to-value. A fee of £199 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation (max £560) is available to all borrowers, while remortgage customers will also receive help towards legal costs. Additionally, this deal has the flexibility of allowing borrowers to make overpayments of up to 10 per cent of the outstanding balance per annum.
  • Verdict: This mortgage is highly competitive, heading straight into the Moneyfacts.co.uk Best Buys. Not only does this deal benefit from a great rate but it also has a low fee of £199 and a fantastic incentive package, which will no doubt make this a popular choice for many.

For five-year fixed-rate mortgages...

  • Darlington Building Society has launched a new five-year fixed rate mortgage, priced at 2.99% to 31.8.20. This deal is for all customers who borrow from £1,000 at 85 per cent loan-to-value. A fee of £1,074 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation is available to all customers, while those remortgaging will also receive free legal fees. This deal has the flexibility of allowing borrowers to make an overpayment of up to 10% of the outstanding balance in lump sum. Darlington’s lending area does not include Scotland.
  • Verdict: This Moneyfacts.co.uk Best Buy deal not only offers borrowers the lowest rate in its sector but a great all-round package too. The addition of free valuation for all borrowers and free legal fees for remortgage customers is likely to make this a wise choice for anyone looking to minimise their upfront costs.

Thanks to Charlotte Nelson from Moneyfacts.

  • There's more money savers in every issue of Yours magazine, out every fortnight on a Tuesday.