Hargreaves Lansdown now has the top easy-access savings rate with a 5.06% deal

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Savers can now get the best easy-access interest rate available by opening an account with Active Savings* – the savings platform of the Hargreaves Lansdown investment house.

Currently, the main easy access deal it has on the platform is with RateSetter, powered by Metro Bank, which offers 5.06 percent.

This is the easy access account available, and the next 5.05 percent comes from Paragon Bank.

Recently, Hargreaves Lansdown has been criticized for cashing in on savings by taking customers’ cash and putting it into low-risk accounts, where it accumulates considerable sums in interest.

However, this easy-access rate is much better than what you’ll get at the big banks.

Santander launched a blockbuster deal on its easy access account earlier this month that shot to the top of the best buy charts.

But the account proved so popular that Santander pulled it three days before its original end date.

After this, the best easy access deals have been hovering around 5 per cent, and savers are wondering when a deal approaching Santander’s will come along.

You can also get a £25 sign up bonus with Hargreaves Lansdown Active Savings.

This is only for fixed rate accounts and an account must have a minimum of £10,000. The bonus will be paid before December 8.

To get the bonus, you will need to click on the green banner at the top of the website where it says: ‘cash bonus available*’

This bonus is only available until September 29, so savers will have to act quickly if they want to get it.

If you need more time, you can register using a form at Hargreaves Lansdown Active Savings before September 29 and you still have until November 28 to qualify for the offer by adding £10,000 to the account.

Hargreaves Lansdown says savings on its platform are protected by the Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000.

The money in your cash center – where the money goes before heading to a supplier – is covered by Barclays’ FSCS licence.

If you choose to open an account with RateSetter, Metro Bank offers FSCS protection. If you already have savings with Metro, you’ll need to make sure you don’t go over the £85,000 limit on both accounts.

As a savings platform, Active Savings by Hargreaves Lansdown offers access to multiple savings and banking products. It allows savers to manage all their savings through a single app-based online account.

AJames Blower, founder of the Savings Guru website, says: ‘Savings platforms are good for both savers who want to spread their money across multiple providers, maximizing FSCS protection, but without having to open a new account at each bank every time. .

“They can open a single account and access a large number of providers, some of which offer better deals than those available directly and others with providers that are not accessible to ordinary savers.”

Mark Hicks, savings director at Hargreaves Lansdown, says: “Savers are benefiting from competition between providers on cash savings platforms and the highest interest rates since the financial crisis, with top easy access rates 5 percent and getting closer to the market leaders. Best Buy fixed terms of one year.

“Hargreaves Lansdown is delighted to partner with RateSetter and add another bank to the Active Savings service that helps people earn more with their cash across multiple banks through one simple login.”