Beat best buy savings rates and turbo charge your interest with this simple trick…

  • Raisin UK is offering a £50 sign up bonus* on top of its 5.02% rate for one-year fix
  • This brings the rate up to 5.49% for one year on £10k, beating the top deal
  • Offer also makes easy-access rates and other fixes as best buys too 

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Savers can beat the top easy-access deal as well as short and longer-term fixed-rate offers by opening an account with savings platform Raisin.

This is Money has an exclusive partnership with Raisin to offer new customers a sign up bonus – a bumper £50 bonus when signing up for an account* with a minimum balance of £10,000.

Currently, the top easy-access rate it has on the platform is with Hoist Finance, which offers 4.7 per cent.

However, on a £10,000 balance, that bump brings it up to a best buy 5.22 per cent. The best easy-access account on This is Money’s independent savings tables pays 5.16 per cent.

Boost your savings: Savings platform Raisin is offering a £50 sign up bonus for new customers who open an account and deposit £10,000 

Likewise, the £50 bonus also brings Raisin’s one-year, two-year, three-year and five-year fixed-rate accounts* to best buy levels.

Savers can get a one-year deal on Raisin from QIB Bank paying 5.02 per cent which is boosted by the £50 bonus to 5.49 per cent. 

The two and three-year deals, both from UBL Bank, are boosted to 5.06 per cent and 5.1 per cent respectively.

Savers can also get a five year deal which pays 5 per cent with the £50 bonus from UBL Bank.

An account must be funded with a minimum of £10,000 and the bonus will paid out 14 days afterwards.

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

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

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Our 20,000-plus strong list of readers signed up to This is Money savings alerts received this deal first, with the details sent out yesterday.

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As for whether savings platforms are a safe place to park your savings, Andrew Hagger says: ‘All Raisin’s UK-based partners are part of the FSCS.

‘This means, if the provider fails, your money is protected up to the value of £85,000, the same as investing direct.

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

‘They can open a single account with Raisin, or the other platforms, and access a wealth of providers – some of whom offer deals better than those available direct and some with providers who aren’t accessible to ordinary savers.’

Savers need to sign up by 11 March and fund an account with £10,000 by 31 March.

To get the bonus, savers must follow this Raisin UK link*, where the bonus code must be entered at the time of registration. The bonus will be paid out once the offer eligibility is met.