| Hi - here are your latest deals, freebies, tricks and messages to help you save.  THE TOP TIPS IN THIS EMAIL
| | Martin's 2020 warning to savers 'Millions earn insulting interest and it's set to worsen. Check if you earn under 1.35%. If so, DITCH NOW - you can get up to 2.75%'
 Martin:  It's looking like another dire year for savers. Six months ago rates were poor, and since then they've plummeted, and there's no respite in sight.
In July, the top 1yr-fix savings rate paid more than 2% - now it's just 1.65%. And just this week, the table-topping easy-access deal was withdrawn, meaning the new best pays less.
These depressed rates are caused by a mix of a gloomy world economic outlook, weakening competition, and, for some big banks, because a recent rule change has stopped them using surplus cash to fund their investment banking arms - leaving them with a glut of cash, so they needn't entice savers in.
To get a half-decent return you need to become an active, disloyal, aggressive saver, shifting from best rate to best rate. Yet millions, whether through ignorance, fear or inertia have money sitting in pitiful accounts earning as little as 0.1%. So now the New Year's turned, CHECK WHAT YOUR SAVINGS PAY. Owt earning less than the top 1.35% easy-access rate needs moving. Don't dally - every day is lost interest.
Below the team and I have highlighted the best deals, in order of simplicity, then a progression of options. All accounts listed have full UK savings protection on up to £85,000 per person, per financial institution. -
 The bare minimum: earn 1.35% easy access. Here you can put money in and withdraw it whenever you want. For most people these are tax-free if you're within your personal savings allowance. So if you are earning less, why?
- Top 1.35%, unlimited access (min £1 deposit). Marcus* (owned by Goldman Sachs) and Ford Money* (yes, the carmaker's bank) pay 1.35% AER variable and you can withdraw as often as you like. - Earn 1.4% with restrictions. Yorkshire BS pays 1.4% AER variable (min £100) but only lets you take money out on one day, of your choice, each year (based on the anniversary of account opening); after that you need to close it to withdraw.
- Earn 1.65% if you can wait for your cash. Our top-pick 'notice account' is from app-based Moneybox*. It pays 1.65% AER variable (min £1), but to withdraw you'll need to give 95 days' notice. Cash you deposit with Moneybox is held by Investec and shares its savings protection.
As these are all 'variable' rates, they can change, but the provider has to notify you in advance. If they drop, ditch and switch. For lots more deals see top easy-access savings, and top notice accounts. -
Got debts or a mortgage? Overpaying often beats saving. If you can, it always pays to clear expensive debt instead of saving. After all £1,000 in top savings earns £10-£20/yr, while £1,000 debt on an 18% credit card costs £180/yr. Clear the debt with the savings and you're £160+ better off. See Repay Debts or Save?
The logic is similar but a bit more complex with mortgages - see Overpay my mortgage with my savings? And it's even more complex with student loans. See Martin's 'Should I clear my Plan 1 student loan?' video (for all those who started uni in 1998 to 2011 plus Scot/NI students in 2012 or later) and 'Should I clear my Plan 2 loan?' guide (for Eng/Welsh students who started in 2012 or later). -
 Top savings fixes: up to 1.85% for two years. If you're willing to lock your cash away without access, you can earn more in a fix (also known as a savings bond). And unlike easy-access accounts which have variable rates, here they're certain. Full options in top fixes, but in brief...
- Top 1yr fixes. Ford Money* (min £500) and Zenith Bank UK (min £1,000) pay 1.65% AER.
- Top 2yr fix. Union Bank of India UK* pays 1.85% AER (min £5,000) or Ford Money* pays 1.8% AER (min £500). Is this a good time to fix? Tough call this, so here's Martin's view: "Fixed rates have plummeted recently. So it may seem perverse to suggest locking in right now at lower rates. Yet we don't live in a boomerang world. There's no 'rates must rise after dropping' rule. And the mood music for rates isn't great.
"Yet fixes do still pay more on larger sums than anything else and the interest is, well, fixed. So ask yourself how much you value certainty, and the easy life of being able to put money in an account and just leave it. The more that matters, the more you should fix and don't look back with hindsight. Though in such uncertain times, I'd hedge towards shorter one or two-year fixes." | -
Santander 123's 'earn 1.5% on up to £20,000' current account is 'back'. Even though it's a current account, Santander 123* used to be our top pick for savings. Then it dropped its rate, and normal easy-access rates improved, so we moved away from it. Now those rates have dropped, we've brought it back into our best buys.
It pays 1.5% AER variable interest on savings up to £20,000 (nowt above that) but charges a £5/mth fee. However, as you get 1-3% cashback on bills paid from it, as long as your cashback is bigger than the £5/mth (which it is for mid to large bills), it's a winner. Plus, it has a linked regular saver at 2.5% AER fixed for 1yr on a max £200/mth (see below for more on regular savers).
You can earn even higher interest on much smaller amounts with a couple of other banks. Nationwide FlexDirect* pays 5% AER fixed in year one on up to £2,500 (1% AER variable after). TSB Classic Plus* pays 3% AER variable on up to £1,500. Yet if you're going to switch bank, many can earn more just going for the 'free cash to switch' incentives. Full eligibility info, incl info on min monthly pay-ins, in high-interest current accounts. -
Earn over 2.5% on up to £800/mth - or 2.75% on up to £300/mth. As the name suggests, regular savers are for putting money aside each month, not lump sums. They pay higher interest, but generally only on smaller sums for a short time. Combine a couple, though, and you could save up to £800 a month.
- Top open-to-all regular saver. Coventry BS pays 2.5% AER variable for 12mths and lets you save up to £500/mth. You can miss monthly payments without penalty. Withdraw cash before the 12mths are up and you lose 30 days' interest on the withdrawal.
- Bank with First Direct or HSBC? Earn 2.75% (newbies get up to £175 free too). Both banks have linked regular savers paying 2.75% fixed for a year. With First Direct you must deposit £25-£300 each month, HSBC £25-£250. As these accounts also pay free cash to switchers, it can be lucrative. See Best Bank Accounts. -
 Top cash ISAs pay 1.31% - best if you pay tax on savings. A cash ISA is just a tax-free savings account in which you can put up to £20,000 a year. Yet since April 2016, more than 95% of people don't pay tax on savings as the personal savings allowance lets you earn up to £1,000 in tax-free savings interest a year (£500/yr for 40% rate taxpayers, £0 for 45% payers).
As cash ISAs usually pay lower rates than normal savings, most people are better off just going for the top-paying normal savings. Currently the rates are a little closer, so for those who pay tax, or are close to earning enough interest for that to happen, cash ISAs can be worth a look.
At the moment the top unlimited-withdrawal easy-access cash ISA is Sainsbury's Bank (min £500) at 1.31% AER variable. Yorkshire BS pays 1.35% AER variable (min £100) but only lets you take money out on one day of your choice each year (based on the anniversary of account opening), though you can close the account or transfer out at any time. If you'll just get the ISA to leave cash in there, this may not be a problem.
You can also get fixed-rate cash ISAs, but their rates lag far behind their non-ISA counterparts, so steer clear unless you'll definitely pay tax on savings interest. See Top Cash ISAs. -
Are Premium Bonds, at 1.4%, worth it? While the 'prize fund' is an average 1.4%, for each £1m winner, many must win a lot less than the average. For someone with typical luck, the top normal savings accounts still beat Premium Bonds. Yet for those with larger sums to put in, or who pay tax on normal savings interest, Premium Bonds can be a decent option. See Are Premium Bonds worth it? -
Low income? Get a 50% savings boost via Help to Save. For those who qualify, Help to Save is unbeatable - it can add 50% on top of savings of up to £50 a month. -
Saving for a first home? Get £1,000s added by the state. If you're aged 18 to 39, you can open a top Lifetime ISA, which gives you a 25% boost on up to £4,000 saved a year (so a max £1,000/yr boost). -
Earn potentially higher rates in sharia accounts. These operate according to Islamic banking principles and often beat traditional savings. They pay 'expected profit' rather than interest, meaning returns aren't certain. But we're not aware of any UK-based sharia banks that have failed to pay their expected rates in the past. They're open to anyone, of any faith, and you get the same £85,000 per person, per institution savings safety protection.
- Top sharia notice account. BLME pays an expected 1.71% (min £10,000) on its 90-day notice account.
- Top sharia fixes (min £1,000). BLME's 1yr 'fix' pays an expected 1.8%; its 2yr 'fix' pays an expected 1.95%. -
Peer-to-peer advertises up to 6.5%, but it ISN'T saving. Lending firms such as Ratesetter, Funding Circle and Zopa advertise eye-catching returns of up to 6.5%. Yet you could lose your money as there's no protection. Make sure you understand peer-to-peer risks. -
Should you invest instead? With savings your cash is protected; with investing you hope that it grows quicker, but at the risk of losing some or all of your money. Investing isn't wrong - it's just not something we cover. See Is investing right for me? ____________________________ Beat the new 40% overdrafts, and what are your return rights? The Martin Lewis Money Show, ITV, 8pm Mon
Over to Martin: "Overdraft rules are changing. Bank charges for busting overdrafts are going (though you can still reclaim old ones), but interest rates are rocketing - 40% is the new normal. These rates are double those charged on credit card debt, so I'll be showing you how to beat that. Plus with the sales now on, when do you have a right to return goods? Do watch, or set your VideoPlus recorder." | | DON'T believe the fake ads on Facebook
Lots of scam ads that litter social media lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning. | New. British Gas price cut for new AND existing customers, but only if you ask - save £300+/yr It's part of a bevy of New Year gas & elec reductions for switchers, so now's a great time to save Price cuts from British Gas on Fri and a variety of smaller firms over recent days are great for the 11m likely ripped off on expensive standard tariffs with a Big 6 firm - but only if you actually switch to take advantage. It's easy: your supply stays on and it's the same gas, elec and safety - only customer service and price changes. Plus there are no exit fees to leave if you're on a standard tariff. So here's how to find those cheap deals (savings are versus the £1,178/yr avg of a Big 6 standard tariff on typical use). -
 Cheap Big 6 deals. If, like many, you prefer a big name, there are three standout 1yr fixed-rate deals from Big 6 firms that smash standard rates - and the price of one of those from British Gas has just been cut. But you CAN'T get any by calling 'em, they're only via comparison sites such as our Cheap Energy Club. Links take you to our club for full info, and to compare against other biggies, as your winner depends on your usage and location. Savings incl the £25 MSE dual-fuel cashback you get via these links.
- E.on (NEW custs only) - save £310/yr. The E.on Fix Online Exclusive v22 comes with 100% renewable elec and is for both dual-fuel and elec-only custs. You don't need to have/get smart meters.
- New. British Gas (NEW & EXISTING custs) - save £306/yr. The British Gas Energy Plus Protection Jan 2021 incl 100% renewable elec (not gas) and 1yr's 'free' heating insurance for dual-fuel custs only. Smart meters are required, though it'll install them for free if you don't have meters already.
- EDF (NEW & EXISTING custs) - save £299/yr. The EDF Simply Online 1 Year Fix Jan21v4 is for dual-fuel and elec-only custs. Smart meters are required, though again it'll install them for free if you don't have meters already.
- Pay less with small or medium-sized firms - save up to £350/yr. A few offer cheaper deals incl medium-sized suppliers with good service ratings, such as Octopus and So Energy - the pair have just cut rates for newbies and are a little cheaper than the Big 6 on avg. Meanwhile, some tiddlers or firms with a poor service history are even cheaper. Use our 'top service' comparison to weed out the duds or do a full market comparison if you just want the cheapest.
| 50+ supermarket coupons incl free £1.50 yogurt & £1.40 off Uncle Ben's rice. See January's coupons. Center Parcs tricks incl half-price Euro stays & how to bag an 'extra day' free. January's the peak holiday-booking month, so whether you're planning a trip or have already booked, we've 16 Center Parcs Tricks. Free £175 for switching bank. Mega-popular last week, so here's a reminder if you missed it... switch to HSBC's Advance* account, and you get £175 plus you can open a linked 2.75% regular savings account. To get it all, you must switch 2+ direct debits/standing orders within 30 days, pay in £1,750/mth (equiv to a £25,700/yr salary), while you can't have had an HSBC current account since Jan 2017. Full info plus other options in Best Bank Accounts. Martin: 'How I averaged 24,322 steps a day in 2019.' That's equivalent to 22km/day, burning 3,500+ calories/day. Read Martin's 2019 steps blog. ... and if that inspires you, here are 10 fitness tracker tips, incl an £85 Fitbit Charge 3. See our 10 Fitbit tips, which also includes cheap Garmin and Samsung prices so you can compare. Know someone who wants to save money? Tell 'em about this email. Help us spread the word and spread the savings. Just send this get MSE's free tips link to them. | Ends Thu. Cheapest fibre b'band in 8mths: '£15/mth' from Post Office The key to ditching rip-off prices is to pounce on short-lived promos such as this - which can save you £100s/yr There are 9m people out of contract who likely overpay on broadband and line rental. Some shell out a shocking £45/mth for slow b'band, but you could boost speed to faster fibre deals while slashing costs as the New Year has brought in some hot deals, which we've rounded up below. Links take you to our Broadband Unbundled tool to check your eligibility for the deals as they're postcode-dependent, but luckily those below are avail to 96% of homes. The tool has lots more deals if you can't get 'em. | TOP B'BAND & LINE DEALS FOR NEWBIES (1) | | DEAL | EQUIV COST (2) | HOW IT WORKS | | 11Mb | '£11.74/mth' MSE Blagged
| New. Apply via our blagged Shell Energy link by Sun 2 Feb and it'll cost £17.99/mth. Yet you automatically get £75 bill credit within 3mths, making it a total outlay of £140.88 over the 1yr contract, equiv to £11.74/mth.
| | Post Office 11Mb | '£11.74/mth' | Ends Thu. Apply via this Post Office link by 11.59pm on Thu and you'll pay £15.90/mth (£190.80 over the 1yr contract), plus you can claim a £50 Amazon voucher. If you'd have spent that anyway, it's equiv to £11.74/mth.
| Post Office 38M Fast fibre | '£15.49/mth' Cheapest fibre since May | Ends Thu. Apply via this Post Office link by 11.59pm on Thu and you'll pay £20.90/mth (£250.80 over the 1yr contract), plus you can claim a £65 Amazon vch. If you'd have spent that anyway, it's equiv to £15.49/mth.
| | 66Mb
Faster fibre | '£20.83/mth' | New. Apply via this Plusnet link by Thu 16 Jan and you'll pay £24.99/mth (£450 over the 18mth contract). Plus you can claim a £75 cheque. Do that and it's equiv to £20.83/mth. | | (1) Definition of newbie differs by firm - see exact terms via the links. (2) To compare, we use 'equivalent prices' - adding all fixed costs, deducting promo cash or vouchers and averaging it over the contract. |
- Will I get the advertised speed? The 'average' speed quoted is what at least 50% of customers get at peak times. Most big providers also tell you the min speed before you sign up. With some (incl Plusnet from those above), if you don't get that speed and it's not fixed within 30 days, you can cancel penalty-free. See how to check your speed.
- What speed is best for me? Standard speed of an avg 10/11Mb is usually fine for browsing or light streaming. Fibre - the term for fast broadband due to the fibre cables that deliver high speeds - is generally best for streamers, gamers or if several people use it at once in your home. Yet even with fibre there are big speed differences, and the faster you go, the more of a luxury it is.
| Tell your friends about us They can get this email free every week | 'I reclaimed £8,000 in council tax, all thanks to MSE.' Are you one of 100,000s due cash too?
For more than a decade we've urged you to check if you're in one of the 400,000 households in too high a council tax band. If you are, you could be owed £100s or even £1,000s as many have overpaid for a whopping 27 years going back to 1993, mainly because of the way homes were banded on perceived values in 1991. Yet the methods used were so slapdash that many were wrong. And with most council tax bills likely to rise by up to 4% in April, now's a good time to check. Here's how... -
 100,000s in Eng & Scot can claim a rebate and benefit from lower bills in future as they're in the wrong band. Use our Council Tax Check & Challenge System to see if you're due. MoneySaver John did: "Using your info I'm pleased to say I received a £7,943 rebate dating back to 1993. I'll now also be at least £470/yr better off. In addition, my neighbours followed and have also been rebanded." Here are the basics...
- Step 1. Compare your band with nearby similar homes. See the Neighbours Check.
- Step 2. Estimate your home's worth in 1991. See the Valuation Check.
- Step 3. If BOTH checks show your band may be too high, challenge it: you can't ask for it to be lowered, just reviewed. But beware doing it willy-nilly - there's a risk your band and your neighbours' bands could rise if it's revealed you're in too low a band, so you could pay more (ouch). See how to challenge your council tax band.
- Told you can't challenge? Don't give up. The Valuation Office Agency (or Scottish Assessors Association) has a legal duty to ensure all bands are correct. So if pushed, it must investigate - our guide explains how to force it to.
- How to grab other discounts or rebates. There are lots more avenues for some...
- Do you live alone, with a student, or are you the only grown-up? Many don't claim, but you're due a 25% reduction.
- Live with someone with a 'severe mental impairment'? Many are due a discount and cash back - see SMI discounts.
- Moved home since 1993? You might also be owed £100+. Council tax is paid monthly (sometimes annually) in advance so often you'll be in credit when you move, and you're entitled to that money back. In 2019, we established about £230m is unclaimed. See Overpaid Council Tax Reclaiming. | THIS WEEK'S POLL Parcel delivery firms: which are best and worst? Now the festive season is over, Santa finally has the chance to rest - yet for parcel delivery firms (which helped), it's business as usual. Over the past few years, we've heard a variety of horror stories, ranging from no-shows to mis-delivered parcels and even items being left in the bin. So it's time for our seventh annual poll on the best and worst delivery firms. Most MoneySavers think their finances are in better shape than they were this time last year. Last week, we asked how you fared financially in 2019. Some 4,910 of you responded, with 54% saying your finances are in better shape than in January 2019. Younger respondents were more likely to have seen an improvement, with 72% of under-25s in a better financial state compared with just 43% of over-65s. See our full 2019 finances poll results. | McDonald's - Daily deals, eg, FREE cheese dippers
Free drink - Beer, cider, G&T or soft drink at 1,200 pubs
Carluccio's - Second main for £1
Brewdog - Free non-alcoholic beer refills
Yo Sushi - Third off plates, incl vegan katsu curry | Lookfantastic - 'Up to 50% off' sale + 15% off code (ends Thu)
Topshop - 'Up to 70% off' sale + 10% off code
eBay - 20% extra off outlets code (ends Thu)
Asos - 'Up to 70% off' sale
Debenhams - 'Up to 70% off' sale | | MARTIN'S APPEARANCES (WED 8 JAN ONWARDS) Thu 9 Jan - Good Morning Britain, ITV, 7.35am
Fri 10 Jan - This Morning, ITV, 10.30am
Mon 13 Jan - This Morning, ITV, 10.30am
Mon 13 Jan - BBC Radio 5 Live, Lunch Money Martin, 12.20pm. Listen again
Mon 13 Jan - The Martin Lewis Money Show, ITV, 8pm MSE TEAM APPEARANCES (MOST SUBJECTS TBC) Wed 8 Jan - BBC Radio Cumbria, Money Talks with Ben Maeder, from 6pm
Fri 10 Jan - BBC South West stations, Good Morning with Joe Lemer, from 5am, Guy Anker
Mon 13 Jan - TalkRadio, Breakfast with Julia Hartley-Brewer, 9.45am, Oli Townsend
Tue 14 Jan - BBC Radio Cambridgeshire, Lunchtime Live with Jeremy Sallis, 2.20pm | QUESTION OF THE WEEK Q: I bought a £300 light fitting online, which turned out not to be suitable. It was delivered three weeks ago, but the company I bought it from says I only had two weeks from delivery to return it. What are my rights? Cathy, via email.  MSE Sarah's A: Unfortunately the company's broadly correct and you're unlikely to be able to return it for a refund - though strictly speaking, when buying goods online you have 14 days to cancel your order and then if you do, a further 14 days to return the item for a refund. This can be for any reason, eg, if the item doesn't fit, or you've simply changed your mind. It's different if the item is faulty or was incorrectly described, however. If that's the case, you have 30 days to return it under the Consumer Rights Act. See our Consumer Rights guide for full help. Please suggest a question of the week (we can't reply to individual emails). | AS KFC LAUNCHES ITS FIRST VEGAN BURGER NATIONWIDE, WHAT COULD BE OVERHAULED NEXT? That's it for this week, but before we go... it's Veganuary (where people are encouraged to eat vegan for the month) and restaurants are giving popular items the plant-based touch - with a mixed response. KFC has joined Greggs, McDonald's, Subway and others with vegan alternatives to popular meals, so whether vegan or not, what meat-based dish would you like to see made vegan (if any)? And what's the best vegan version you've tasted? Let us know in our Veganuary Facebook post. We hope you save some money,
The MSE team | |
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