How to get a year’s best buy savings solution with Hargreaves Lansdown as it launches a cashback offer

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Banks and building societies have reacted quickly to the Bank of England’s base rate cuts by cutting savings rates on fixed and easy access accounts.

But savers can now boost their savings by up to £150 by opening a savings account at Hargreaves Lansdown through a new cashback offer.

Hargreaves Lansdown is running a cashback offer on your Active Savings savings platform* Starting Monday, December 9, This is Money will be able to reveal it exclusively.

Customers could get up to £150 with the Active Savings offer, although they would have to transfer £75,000 or more to Active Savings to get the full £150 cashback sum.

It means savers can beat the best fixed rate deals in our independent best buy tables by opening an account with Active Savings.

Currently, the top one-year fixed rate* that it has on the platform is with Vida Ahorro, which offers 4.77 percent.

However, with a balance of £10,000, the cashback lifts it to a 4.97 per cent best buy.

This rate beats the best deal for a one-year solution, which Al Rayan offers, paying 4.8 percent.

Hargreaves Lansdown also has a two year solution*through Close Brother’s Savings offering 4.52 percent. With the rebate, this rises to a 4.72 percent best buy.

The best two-year solution in our independent best buy tables is United Trust Bank, which offers 4.61 percent.

Is three and five year corrections* They also increase best purchases with the cash back bonus. The three-year solution through Close Brothers savings paying 4.4 per cent increases to 4.6 per cent with the bond.

Meanwhile, the best five-year fix for Active Savings with Close Brothers savings paying 4.4 per cent rises to 4.6 per cent.

To get the refund, savers must open an account with Active Savings using this link* and deposit at least £10,000 by 4 February.

Mark Hicks, director of Active Savings at Hargreaves Lansdown, said: “Rates are widely expected to continue to fall over the next six months, and for savers who want to lock in and lock in rates, Active Savings is offering higher rates than they can get “. It can be obtained by going directly to banks and building societies.

Anyone who opens an Active Savings account before February 4, 2025 and deposits £10,000 or more will be eligible for the refund.

Customers will receive a cash payment into their Active Savings account based on the amount they first deposited into an account at the cash back window.

Active Savings says money held on its platform is protected by the Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000.

This means that if a supplier fails, your money is protected up to a value of £85,000.

As a savings platform, Ahorro Activo offers access to multiple savings products and banks. It allows savers to manage all their savings through a single app-based online account.

They are good for savers who want to spread their money across multiple providers while maximizing FSCS protection, but without having to open a new account at each bank each time.