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LearnMoney.co.uk Top 5 Personal Finance Deals
For the savvy Personal Financier..........
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| No.1 |
ING Direct - Instant Access pays 1.50% |
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What is it: |
| An Instant Access Savings Account paying an interest rate of 1.50% |
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| Why it's a Top 5 Deal: |
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- 1.50% is a competitive interest rate when base rates are currently a pathetic 0.50%
- I've got one of these savings account and historically ING have always offered competitive rates
- Nice and easy to manage too with slick online banking
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| No.2 |
Virgin Credit Card: Balance Transfer over 20 months |
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What is it: |
| Yes, it's a credit card but for switched on personal financiers it's a beautiful way to sort out debt and/or manage your personal cash flow |
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| Why it's a Top 5 Deal: |
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- Right now it's impossible to get a personal loan under about 8% but with this card you can effectively borrow at 2.99% over 20 months
- Don't use it as a credit card, use it to reschedule higher paying debts or to borrow money (but only if you've got a sensible plan to repay)
- I've got one of these cards and you have to love the Virgin brand over the greedy high street banks
- Excellent customer service as well (UK call centres) and good online management
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| No.3 |
AMEX Cashback Card (Earn 1.25% on spending) |
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What is it: |
| A Credit Card that rebates you 1.25% on all spending (bonus of 2.50% for the first 3 months) |
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| Why it's a Top 5 Deal: |
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- We all have to spend money on living so why not earn free cash back?
- I've had one of these cards for the last 2 years and use it all the time to pay for petrol, groceries, everyday living expenses etc
- Then, once a year I get a cheque for about £100, what's not to like about that?
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| No.4 |
Nationwide Cash ISA paying 2.75% (fixed) |
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What is it: |
| An Instant Access Cash ISA account paying a tax-free 2.75% (rate is fixed until January 2013) |
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| Why it's a Top 5 Deal: |
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- More greed games are played with Cash ISAs than all the other savings accounts put together
- For example, Banks love to pay a great interest rate at the start of the ISA season (to attract lots of money) but then sneakily and in my opinion, disgracefully slash the interest rate come summer time (many people won't notice or can't be bothered to move their money)
- But the Nationwide isn't playing games with this e-ISA account as the rate is fixed at 2.75% till January 2013
- The account is instant access and allows you to transfer ISA money from other banks and building societies
- All in all I like this ISA deal a lot
- More details
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| No.5 |
First Direct Bank - Get £100 to switch your account |
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What is it: |
| A bank account that offers outstanding customer service and will pay you £100 to switch your account |
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| Why it's a Top 5 Deal: |
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- My friend Anthony has had one of these account's for the last decade and he's always raving about their superior customer service
- Switch from your present account and they'll pay you £100 plus another £100 if you don't like their services and want to move (within 12 months)
- A free £250 overdraft, handy if you sometimes go a few pounds in the red
- First Direct also employ a slick transfer team who manage the transfer process from your current bank to them
- The transfer team does all the hard and messy work, including sorting out any Direct Debits and standing orders
- Overall if you need solid customer service when running your bank account I doubt you'll be disappointed with First Direct and with £100 to switch + the £100 guarantee you haven't got much to lose
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The information on the LearnMoney.co.uk website has been compiled from sources believed to be reliable, but is not warranted to be accurate or complete.
All recommendations and comments are provided for general interest only and should not be construed as advice.
Professional advice should always be sought before buying or investing in any financial product.
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