Best new money deals - March 21st

If you want to squirrel away savings for a year...

  • Yorkshire Building Society has launched Single Access Saver, a one-year variable rate account that pays 1.30 per cent upon its anniversary or 1.29 per cent monthly. Savers can invest from £100 up to £2 million. Only one withdrawal is permitted per year but further additions are welcomed at any time. This deal can be operated in branch and by post.
  • Verdict: The 1.30 per cent Single Access Saver is a unique offering in the market, providing a competitive rate of interest in its sector. This is likely to be a popular product among savers who are looking for easy access to funds but who are able to manage their money so they can meet the withdrawal restrictions.

If you want to clear credit-card debt...

  • Halifax has increased the interest-free term for both balance transfers and purchases on its credit card to 24 months. Introductory balance transfers carry a fee of 2.50 per cent and purchases are charged 18.9 per cent APR after the initial offer ends. To be eligible for this deal, customers must be 18 and over and applications can be made online and by telephone.
  • Verdict: Customers looking to make a large purchase as well as get a bit of breathing space for paying off their outstanding credit card balance will be delighted by Halifax’s latest update. Offering a competitive 24-month interest-free term for purchases and balance transfers, this deal secures its position in the Best Buys. As always, customers should aim to pay off any debt before the introductory deals end so that they do not incur any interest.

Thanks to Charlotte Nelson at Moneyfacts.

  • There are more money-saving tips in every issue of Yours magazine, out every fortnight on a Tuesday.