Although it has taken a while, there is finally competition in the savings market, according to Martin Lewis.
The 45-year-old appeared on ITV’s This Morning to reveal the best savings accounts deals at the moment, among other money saving tips.
Talking about savings accounts, Martin explained: “Rates are still low but they’re getting better.
“And after years of small banks being top, who people complain to me they’ve never heard of (even though all UK regulated accounts have £85,000 savings safety protection), there’s a big name at the top of the table.”
For a full rundown of the best deals, for easy-access, fixed and more see Martin’s full ‘top savings guide’. But here is a run-down of the top easy access accounts that mean you can withdraw your cash whenever you want:
The Post Office online account (min £1) pays 1.27 per cent AER, including a 1.02 per cent bonus for a year, so diarise that you’ll need to move again then. Just to note – this is not the same as NS&I which is the Government backed savings, it’s actually run for the Post Office by the Bank of Ireland.
The fully UK regulated Bank of Cyprus (min £1) pays a smidgeon more at 1.28 per cent (including 0.6 per cent bonus for 12 months) so that’s 1p extra interest per £100 saved.
The very top easy access rate is from RCI Bank (min £100) at 1.3 per cent AER yet this is not UK related. You are protected by the French scheme, so in the unlikely even it wen busy you’d be reliant on the French Government to ensure you were paid out.
Martin’s other deals this week include cheap Christmas train tickets, free flu jabs and the free St John Ambulance first aid app.
Cheap Christmas train tickets
Martin said: “Train firms must launch timetables at least 12 weeks ahead, and tickets are usually made available within a couple of weeks of that. So with Christmas now just over 10 weeks away, now’s the perfect time to try and bag cheap tickets for the festive season. The savings can be huge, for example, I’ve found an off-peak journey from London to Leeds return, departing on 22 December and coming back on 2 January, for £38 (nearer the time this can be over £100).”
Free flu jabs for some
“Winter is fast approaching and NHS bosses are preparing its hospitals and GP surgeries for a surge in flu cases over the coming months – as they’ve already seen similar in Australia. While most healthy people who catch it will recover within a week, those who have a weaker immune system it may take longer to recover or it could be dangerous, so the NHS are providing free flu jabs for some.
“Generally those aged 65 or over, pregnant, have a certain medical condition, and some children depending on when they were born and if they have other health conditions are eligible for a free jab. Also if you live long-term in a care home, look after an elderly person, or are a front line health/social care worker you can also get it.
“To get it, book an appointment with your GP surgery or some local pharmacies offer it too. If you aren’t eligible for a free NHS flu jab, some employers offer it to their employees for free, so it’s worth checking. Alternatively GPs charge up to £20 to get it but supermarkets with pharmacies often do it for less, the cheapest is £5 at Asda, £9 at Tesco and £9.99 at Superdrug.”
Free St John Ambulance first aid app
Martin said: “This is worth everyone doing, as it could help potentially save a life. Download the free St John Ambulance first aid app (on Apple/iOS, Android or BlackBerry) and it provides step-by-step illustrated guides on first aid scenarios such as CPR, choking, diabetic emergencies and allergic reactions. It also gives voice instructions (so your hands are free to give first aid). If you’re a cyclist, there’s a separate first aid for cyclists app as well to keep with you while out on the road. While this app obviously doesn’t beat having a first aid qualification, and it’s not as detailed as traditional first aid manuals, in an emergency, it could literally be a lifesaver.”