How to get the very best easy-access savings rate of 5.29% with this simple trick

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Savers can now get the best overall, easily accessible interest rate by opening an account Active saving* – the savings platform of investment house Hargreaves Lansdown.

It’s offering new customers a £25 bonus when signing up for an account, but only until September 29 – so you’ll have to act quickly to get it.

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

However, on a balance of €10,000 – the minimum required to qualify for the bonus – this increase brings a best buy of 5.29 percent.

This rate is better than the top deal on an easy access account offered by Leeds Building Society, which pays 5.1 per cent.

Recently, Hargreaves Lansdown has come under fire for taking advantage of savings by taking cash from customers and putting it into low-risk accounts – where it earns handsome amounts of interest.

However, this easily accessible rate is much better than what you get at the big banks.

Santander launched a blockbuster deal on its easy-to-access account early this month, which shot to the top of the best buy tables.

But the account proved so popular that it was withdrawn by Santander three days earlier than the original end date.

After that, the best easy-to-access deals hovered around the 5 percent mark, leaving savers wondering when a deal even remotely close to Santander’s would come along.

But now, by getting the £25 sign-up bonus with Hargreaves Lansdown Active Savings, you can get an even better rate than even that previous easy-to-access Santander account.

An account must be at least £10,000 and the bonus will be paid out by December 8.

To receive the bonus, you must click on the green banner at the top of the website, which says: ‘cash bonus available*’

If you need more time, you can sign up before September 29 using a form on Hargreaves Lansdown Active Savings. You then 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.

Money in its cash hub – where the money goes before going to a provider – falls under Barclays’ FSCS license.

If you choose to open an account with RateSetter, FSCS protection is offered by Metro Bank. If you already have savings with Metro, make sure you don’t exceed the £85,000 limit on either account.

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

AJames Blower, founder of website Savings Guru 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 with each bank every time.

‘They can open a single account and access a wide range of providers – some with offers that are better than those readily available and some with providers that are not accessible to ordinary savers.’

Mark Hicks, head of savings at Hargreaves Lansdown said: ‘Savers are benefiting from competition between providers on cash savings platforms and the highest interest rates since the financial crisis, with easily accessible rates above 5 per cent and close to the leading market . best buy one-year fixed terms.

‘Hargreaves Lansdown is delighted to be working with RateSetter and adding a new bank to the Active Savings service, which allows people to make more of their money across multiple banks through one simple login.’