Easy access accounts are highly flexible by their very nature, but they can be less so if you need a separate current account with the same provider. So, here’s a roundup of the best easy access accounts that don’t require a linked account, and crucially for the current environment, they can all be opened online, too.
Leading the way within these parameters is Kent Reliance, with Easy Access Account – Issue 45 paying 0.45% AER either yearly or monthly from a minimum of £1,000. Further additions are welcome, as are withdrawals, though the withdrawal method is dependent on how the account is opened (either online, in branch or by post).
Then there’s Paragon Bank, with Limited Edition Easy Access Account (Issue 8) paying 0.41% AER on its anniversary. This purely internet-operated account requires a minimum investment of just £1 and permits further additions and withdrawals without restriction, offering true easy access. You can find out more or apply online by going straight to the provider’s site, or you might like the version that pays interest monthly, with all terms mirroring the annual interest account.
The next-best rate of 0.40% AER is paid by no less than eight providers, so there’s bound to be something to suit. The Online Flexi Saver account from Investec Bank plc is an internet-operated deal that requires a minimum investment of £5,000 and pays interest monthly, with further additions and withdrawals allowed at any time (find out more or apply on the provider’s site). Then there’s SAGA, with the Saga Easy Access Savings Account paying interest monthly from a minimum investment of just £1, with further additions and withdrawals welcome. After being opened online it can then be managed by phone as well; find out more by heading straight to the provider.
Nationwide Building Society’s 1 Year Triple Access Online Saver 11 pays the same rate of 0.40% AER on its anniversary from a minimum investment of just £1, with unlimited further additions allowed. Withdrawals are also permitted, though it should be noted that only three will be allowed on a penalty-free basis per year, with a lower rate paid for the remainder of the term if this limit is exceeded. The account can be both opened and operated online or via app, and it will revert to a Triple Access Online Saver after 12 months. Find out more here.
Meanwhile, Charter Savings Bank’s Easy Access – Issue 19 is an internet-operated deal that requires £5,000 and pays interest on its anniversary, and it permits unlimited further additions and withdrawals (there’s also a version of the account that becomes purely postal-operated after opening). Finally, Shawbrook Bank, Hampshire Trust Bank, Marcus by Goldman Sachs and RCI Bank UK all offer 0.40% AER too, with unlimited further additions and withdrawals again permitted.
You can find more of the best easy access savings accounts on our chart.
Product Spotlight: BTL limited co. mortgages
If you’re a limited company landlord looking for a new buy-to-let mortgage deal, we’ve got you covered. Here are the best BTL limited company mortgages currently available.
First up is Molo Finance, with a two-year fixed rate mortgage priced at 2.90%, before reverting to 4.41% variable for the remaining term. It’s available at up to 65% loan-to-value (LTV) for both purchase and remortgage customers, and it charges an arrangement fee of 1% of the advance. It permits overpayments and is available for borrowers that have up to four properties in their BTL portfolio and overall borrowing of less than £4m. Find out more or apply by going straight to the provider’s site.
Next is Monmouthshire Building Society, with a discounted variable rate of 3% for two years (1.74% discount) that reverts to 4.47% variable thereafter. It’s available to purchase and remortgage customers at up to 75% LTV and permits overpayments, and it comes with a fee of £1,499. The maximum loan amount is £1m and is for borrowers with fewer than three other BTL mortgages with the lender (up to a combined maximum advance of £3m).
Completing this overview is Vida Homeloans with a rate of 3.94% that’s fixed for two years, before reverting to 5.19% for the remaining term of the mortgage. Available to house purchase and remortgage customers with a 20% deposit/equity (80% LTV), it has an arrangement fee of 1.50% of the advance (min £795), and permits overpayments. The maximum loan amount is £1m, with maximum lending of £4m with the lender.
You can find more of the best BTL limited company mortgages by heading to our chart, or for a more personalised look at your options, get free mortgage advice from our preferred mortgage broker Mortgage Advice Bureau. Just follow this link or call 0808 149 9177.
What are the best ISA investment funds?
For those looking for an alternative to cash saving, investing in a stocks & shares ISA could be a solution. Doing so opens up plenty of investment options, with opportunities to invest directly in the stock market and potentially earn far higher returns (though there’s also the potential that you’ll be left with less than you put in, so make sure to weigh up the risks). Now could be a good time to test the waters, too, as during April the FTSE 100 saw a leap in performance compared to March. For many, investment platforms – such as that offered by interactive investor – can offer a convenient way to invest and could be the ideal way to get started; find out more about this form of investing in our guide, or read on to see the best investment funds in April 2021.
How to switch equity release and save money
Borrowers who took out an equity release plan several years ago could save themselves money by switching onto a new plan, as new research shows that equity release rates have fallen significantly in the last five years, down from 6.15% in April 2016 to 4.07% on 26 April 2021. As well as this, the number of equity release plans has increased significantly, up from just 66 to a record high of 510. Not only is this good news for those currently considering equity release, but it could also mean that those who took out an equity release plan in the past may be able to reduce their interest rate by switching plans. Here’s how to go about it.
How to borrow without paying interest
Many financial experts predict that the easing of lockdown will see a spending boom among consumers looking to spend money they’ve saved over the last 12 months. While ideally, they’ll be using their savings to enjoy the new freedoms, others may be considering borrowing money instead. Of course, it’s never advisable to borrow unnecessarily and it’s vital to keep up with any repayments, but if done sensibly, borrowing can be a useful tool for personal financial management – and borrowing at 0% is often the best way to do it. Here’s how.
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