The best new deals for spring

Lots of new deals are springing onto the market. Here's where to get the best ones...

There’s been the odd sign of spring here and there recently, and it seems that lenders are also getting in the mood for spring time, following the launch of several new deals.

So whether you’re after a new credit card, savings account, or personal loan, let’s take a look at the best deals on the market for spring.

Credit cards

If you use your credit card wisely, it can be a very handy piece of plastic to have in your wallet and you can use it to your advantage. 

Best for balance transfers

For example, if you have spent a little too much on your existing credit card and you’re now paying out a hefty rate of interest, it’s a good idea to transfer your debt to a 0% balance transfer credit card. That way you’ll avoid paying interest on your debt for a set period.

And right now, the market is really hotting up.

Barclaycard’s Platinum Credit Card had been offering a market-leading 17 months interest-free on all balance transfers. However, it has now gone one step further and is offering 18 months interest-free! That means you have a year and a half to pay off your debt without worrying about the interest stacking up.

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So if you’ve got a lot of debt sitting on a credit card which is accruing a lot of interest, you’d be mad to miss out on this fantastic deal! Just bear in mind that you will need to pay a 2.9% transfer fee and make sure you pay off the balance in full before the interest-free period comes to an end.

The Nationwide BS Credit Card BT Visa, meanwhile, now offers 17 months on balance transfers and comes with a 2.95% fee. So this is still a very attractive deal and particularly good for those of you who already have a Barclaycard credit card as usually you can't transfer debt between two cards from the same provider.

Best for purchases

Alternatively, if you have an important purchase to make and you’re not going to be able to afford to pay for it in one go, it’s worth using a 0% on new purchases credit card. And the good news is, this market is getting more competitive too!

The M&S Credit Card has just knocked Tesco off the top spot with its offer of 15 months interest-free on all purchases! So that means you can enjoy over a year of interest-free spending. What’s more, you’ll earn M&S points with your spending which allows you to save money on future purchases in M&S!

Just make sure you pay off the balance in full before the 0% period comes to an end to avoid being charged interest.

Alternatively, the Tesco Clubcard Credit Card still offers 13 months interest-free spending and you’ll also be able to collect Clubcard points as you spend.

Savings accounts

There’s also been a bit of movement in the savings market. So if you want to get a better rate of return on your savings account, here’s where to look:

Best for easy access

If you don’t mind giving 30 days’ notice on your savings, the Coventry BS eNotice Account pays a market-leading interest rate of 3.05%. You’ll need a minimum deposit of £1,000 and the interest rate includes a bonus of 0.50% for the first year.

If you need to access your savings quickly and are not able to give 30 days’ notice, you’ll lose 30 days’ interest on the amount withdrawn. Although this is a drawback, a number of other easy access savings accounts restrict how many withdrawals you can make penalty-free each year anyway - and they don’t pay such a competitive interest rate. So you may find that earning 3.05% is worth giving notice for!

Alternatively, the Nationwide MySave Online Plus Account recently upped the interest it pays to 2.95%. This includes a bonus of 1.41% for the first year and you’ll need at least £1,000 to open the account. With this account, you can only make one penalty-free withdrawal per year. Further withdrawals are subject to a loss of bonus and a lower interest rate of 0.10% in the month the withdrawal was made.

Find out more in The top 15 easy access savings accounts.

Best cash ISAs

There’s not long to go until the end of the tax-year, so it’s time to think about your cash ISA and whether or not you’ve used up your allowance this year (£5,100 for cash ISAs, rising to £5,340 on 6 April).

Cash ISAs are marvellous things because they are tax-free. So if you’re looking for a new ISA, the good news is that interest rates on cash ISAs are starting to go up. Indeed, just recently Santander increased the interest rates on two of its best buy cash ISAs.

If you’re a Santander current account customer and you pay in at least £1,000 a month, or if you have a mortgage or have an investment product with Santander, you’ll qualify for the Loyalty Flexible ISA.

This currently pays a market-leading 3.30% as it tracks 2.80% above the base rate for 12 months (after this point, the rate falls to 0.50%). However, you can’t transfer existing cash ISAs in.

Alternatively, the Santander Flexible ISA is available to everyone and tracks 2.65% above the base rate for 12 months – so it currently pays 3.15%. Again, however, no cash ISA transfers are permitted.

Fortunately, if you do have an existing cash ISA and you’re simply looking for a better rate of interest, there is another option. Halifax has also boosted the rate of interest on its Direct Reward Cash ISA and it now pays 3% - and it allows transfers in. However, if you have a current account with Halifax, you can get an even better rate of 3.20% - beating the Santander Flexible ISA.

Personal loans

Personal loan interest rates have been becoming increasingly competitive over the last few months.

Right now, if you’re looking to borrow between £7,500 and £15,000, the M&S Personal Loan is offering a fabulous interest rate of 6.9%!

Meanwhile, the Alliance & Leicester Aggregator Personal Loan has also seen a reduction in rates, offering just 7.1%, while Sainsbury’s has also lowered the rate on its Nectar Card Holder Personal Loan to 7.2%. However, you will need a Nectar Card to qualify.

So, as you can see, there are some truly great deals on the market this spring. Make sure you don’t miss out!

More: Get a perfect savings account | The top 10 current accounts | Pay 0% on new credit card for 18 months