Home / Life & Style / Martin Lewis: Money Saving Expert recommends this new cash ISA rate for your cash savings | Life | Life & Style

Martin Lewis: Money Saving Expert recommends this new cash ISA rate for your cash savings | Life | Life & Style

Martin Lewis, 45 spoke about a new cash ISA rate being offered by Nationwide that could benefit your savings in the future.

Savings rates have been in the doldrums for the past couple of years, but the Money Saving Expert says it seems rates are slowly on the up.

He said: “Right now you can get the highest top easy-access cash ISA rate in several months with Nationwide at 1.3 per cent (or 1.4 per cent if you’re a Nationwide customer for over a year).

“Though you have limited withdrawals of one/year.”

See Martin’s Cash ISA guide for more details.

Normally, Martin would say don’t bother with a cash ISA – just stick your money in which ever account pays the highest rate – as with the personal savings allowance basic-rate tax payers can earn £1,000 in interest tax-free (higher-rate £500) which means you’d need around £70,000 saved to hit this.

But he said: “As the top normal easy-access savings rate is also 1.3 per cent with ICICI Bank – more options see Martin’s top savings guide – you may as well stick it in this ISA as if things change in the future – eg rates go up so much you need less savings to earn £1,000 interest, or you go up a tax band – then at least your money is in a tax-free wrapper.”

With Mother’s Day this Sunday, Martin also revealed how mum’s can eat out for free on the day.

Martin said: “There are a raft of fixed mother’s day menus, which aren’t that cheap, and there aren’t any 2for1 deals out there.

“Of the better offers out there if you register and download a voucher online at Frankie and Benny’s when you buy one main meal (costs around £15ish) you get one free for mum on Mother’s Day only at any time.”

The Money Saving Expert advised you can also download the free Harvester app where there’s a voucher on it to claim a free meal for mums after 6pm on Mother’s Day when you buy a main.

Or mums can get a free glass of Prosecco (normally up to £6ish) when they order any main meal at most Café Rouge restaurants from midday on Mother’s Day.

Martin’s top tip for Mother’s Day meals: “It’s likely to be busy, so it’s best to book in advance.”

For more see Martin’s full Mother’s day deals guide.

This week, 16 water companies are offering more than 170,000 gadgets in total, This week, 16 water companies are offering over 170,000 gadgets in total, including free shower heads (which help regulate water usage, worth £20), tap inserts (to regulate the flow of water from your tap, worth £5) and Save-A-Flush bags (bags you place into your toilet cistern so each flush uses less water, worth £2) – all handy if you’re on a water meter as they’ll help you use less water and can slash energy bills by £100s even if you’re not on a meter.

There are 18 gadgets to choose from, according to Martin, though what you can get depends on what water company you’re with.

To see what else you can get go to Save Water Save Money’s website.

For more free water-saving gadgets visit MSE’s guide.

Martin Lewis also revealed this week how to save £300 or more a year on energy bills despite the E.ON price hike.


Check Also

A Vision 195 Conversation with Chuck: IFL Arabic

Before ascending into heaven, Christ issued His final command: “Go and make disciples of all …

Leave a Reply

Your email address will not be published. Required fields are marked *