Published On: Mon, Sep 16th, 2019

Martin Lewis Money Saving Expert: Best ISA rates revealed today


Putting your money into a good savings account in a wise decision.

It’s ideal to maximise your saving potential by choosing high interest savings accounts.

However, finding the best accounts is not always easy.

Luckily Martin Lewis is on hand to guide Britons.

Martin Lewis told This Morning viewers on ITV today: “The mood music for savers isn’t good.

“The world economic outlook is gloomy and there’s huge uncertainty here in the UK, so the City’s long-term interest rate predictions have plummeted.

“Fixed-rate savings are based on these, so they’re dropping. And in the last couple of weeks, first easy-access best-buy Marcus, which held firm at 1.5 per cent for 11 months, shaved down its rate, then its fellow top payer Cynergy followed suit.”

Martin’s top pics of savings accounts

Top easy-access account

You can earn 1.45 per cent in a top easy-access account if you want to withdraw at will.

Here you can save as much as you like (within reason), add to it whenever you want, and get your money out whenever you want.

Marcus and Cynergy are still the top payers at 1.45 per cent (both are min £1 but have year-long intro bonuses, of 0.1 per cent and 0.7 per cent respectively, so the rates will drop after). As they’re variable, if rates drop or a better deal comes along, you can simply pull your money out and move it elsewhere.

As these are bog-standard simple accounts, there are very few reasons why anyone should be earning less than this.

You can actually earn more in Al Rayan bank (min £500) which is 1.6 per cent easy access, though this a Sharia account – following Islamic religious law which prohibits interest. So instead of an interest rate, it’s an expected profit rate. Generally this has always been paid, but by definition it isn’t guaranteed.

Best fixed rate

You can earn 1.81 per cent if you can put money away and will know before you need it (eg, when you’re ready to buy a house). The top-paying notice account is Charter Savings at 1.81 per cent (min £5,000) –you’ll need to give 95 days’ notice to withdraw cash, and again it’s a variable rate.

Is there a way to get the rate guaranteed?

You can earn 2 per cent guaranteed if you’re prepared to lock cash away in a fixed account – although remember you won’t be able to touch your money during the time.

The top-paying one-year fix is from Arbuthnot Direct at 1.86 per cent AER (min £10,000), if you’ve got less then Habib Bank (min £1,000) is 1.85 per cent.

If you can lock money away for two years, FirstSave (min £1,000), Access Bank UK (min £5,000) and Arbuthnot Direct (min £10,000) all pay 2 per cent AER.

A Help to Buy ISA or Lifetime ISA is a no-brainer

First-time buyers saving in one of these two special ISAs get a 25 per cent bonus added on what you’ve saved to use towards your first home.

Help to Buy ISAs win if you’re buying within a year, are under 18 or over 40 (as you can’t have a LISA then), or if you’re not sure you’ll buy a house (as you can withdraw money with no penalty).

If not LISAs usually win, as you can put more in therefore the bonus is bigger. But you can only open a Help to Buy ISA until 30 November, so if you’re still deciding it’s worth putting £1 in each account now.

Martin Lewis’s PPI advice is helping Britons get even more money back from their claims. 



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