High Interest Current Account

Compare UK Current Account Deals That Pay High Interest
Account
First Direct 1st Account
Special Offer
£100
For Switching
Interest Rate
1.00% AER/Gross on Regular Savings
Funding Required
No monthly minimum
Account Fee
FREE
Account
Santander 1|2|3 Current Account
Interest Rate
0.30%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Minimum Arranged Overdraft
On Application
Account Fee
£4 pm
Account
Starling Bank Mobile App Bank Account
Details
The award-winning current account built to give you more control over your money. Voted Best British Bank 2020*
Spend & Transfer Money Abroad
Account fee
FREE

*Best British Bank and Best Current Account in 2019 and 2020 at the British Bank Awards. Awarded 5 stars by Defaqto too

Account
Cashplus Current Account
Adverse Credit
Details
No credit checks - instant online decision. Apply from your mobile and manage your money with the banking app. Add Creditbuilder to your account and it could help build your credit rating at no extra cost
Account
Currensea Mobile App Bank Account
Details
Spend in confidence, whilst saving money on your overseas purchases
Spend & Transfer Money Abroad
Account fee
FREE
Account
Bunq Premium Mobile App Bank Account
Details
A revolutionary mobile bank, built from a clean slate, dedicated to your wants and needs. Get the freedom to spend, save, move and invest your money whichever way you like
Spend & Transfer Money Abroad
Account fee (EUR)
7.99 EUR per month
Account
Revolut Mobile App Bank Account
Details
Modern banking: set up and manage current account directly from your phone
Spend & Transfer Money Abroad
Account fee
£0 to £12.99 per month
Account
First Direct 1st Account
Special Offer
£100
For Switching
Interest Rate
1.00% AER/Gross on Regular Savings
Funding Required
No monthly minimum
Account Fee
FREE
Account
Santander 1|2|3 Current Account
Interest Rate
0.30%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Minimum Arranged Overdraft
On Application
Account Fee
£4 pm
Account
Card One Money Current Account
Adverse Credit
Details
No credit checks - open to everyone with guaranteed acceptance. Help manage your money. Account comprises of a Billing Account for money in and to pay your bills from, plus a Debit Mastercard for your every day spending
Cashback
Account
Santander 1|2|3 Student Current Account
Funding Required
£500 per term
Overdraft
£1,500 Interest Free increasing to £2,000
Details

A free 4-year Santander 16-25 Railcard which could save you 1/3 off rail travel in Great Britain

Account
First Direct 1st Account
Special Offer
£100
For Switching
Interest Rate
1.00% AER/Gross on Regular Savings
Funding Required
No monthly minimum
Account Fee
FREE
Account
Santander Everyday Current Account
Special Features
Earn up to 15% cashback with Retailer Offers. Just switch on, choose your offers and shop with any of your Santander cards
Arranged Overdraft
Account Fee
No fee
Account
Cashplus Current Account
Adverse Credit
Details
No credit checks - instant online decision. Apply from your mobile and manage your money with the banking app. Add Creditbuilder to your account and it could help build your credit rating at no extra cost
Account
First Direct 1st Account
Special Offer
£100
For Switching
Interest Rate
1.00% AER/Gross on Regular Savings
Funding Required
No monthly minimum
Account Fee
FREE
Account
Santander 1|2|3 Mini Current Account
Interest Rate
3% AER
2.96% gross
Interest Earned Between
£1,500 to 2,000
Minimum Deposit
No minimum
Account
Santander 1|2|3 Student Current Account
Funding Required
£500 per term
Overdraft
£1,500 Interest Free increasing to £2,000
Details

A free 4-year Santander 16-25 Railcard which could save you 1/3 off rail travel in Great Britain

Account
Cashplus Current Account
Adverse Credit
Details
No credit checks - instant online decision. Apply from your mobile and manage your money with the banking app. Add Creditbuilder to your account and it could help build your credit rating at no extra cost
Account
Card One Money Current Account
Adverse Credit
Details
No credit checks - open to everyone with guaranteed acceptance. Help manage your money. Account comprises of a Billing Account for money in and to pay your bills from, plus a Debit Mastercard for your every day spending
Cashback
Account
Starling Bank Business Current Account
Details
Zero monthly fees with a fast and straightforward setup, the digital bank account built for contractors, freelancers and small businesses
Debit Card
Monthly Account Fee
FREE

Add the Business Toolkit to your free account and automate bookkeeping alongside your banking to save precious time on financial admin – Get the first month free (£7 per month after that)

Account
Cashplus Business Account
Details
The Current Account of Today. No credit checks to apply. Instant approval once we verify your details. Real time banking services at a click or tap
Debit Card
Monthly Account Fee
No Monthly Fee
Account
Tide Business Current Account
Details
Powerful and simple business account - built to make your life easier. For companies of all shapes and sizes. Trusted by 130,000+ UK businesses
Debit Card
Monthly Account Fee
FREE

Get £50! Open a business current account with Tide & Fair Investment*

*£50 and a year of free transfers when you open a business account. T&Cs apply. Use the code: FAIRINVESTMENT

Account
Card One Business Account
Details
Account designed specifically for small businesses. No credit checks to apply. Free mobile app. Earn cash back up to 3.5%
Debit Card
Monthly Account Fee
£12.50
Account
Anna Business Current Account
Details
ANNA Money is the business current account for startups, small businesses and sole traders
Debit Card
Monthly Account Fee
FREE for 6 months*
Account
Currensea Business Current Account
Details
Currensea is a new way to globalise existing business bank accounts. Pay in every currency without the fees
Debit Card
Monthly Account Fee
FREE

With the Bank of England Base Rate falling to historical lows over the last 5 years, there are not many current account providers who pay what you would call high interest on the account balance.

While the Base Rate increased last month by 0.25% banks are in no hurry to pass this rate rise onto customers.

Typically most banks and building societies pay either a nominal amount of interest or no interest at all.

Some providers will pay higher interest on the first say £1,000 held on the account, and then pay a much lower rate on money held over this amount.

Currently the highest paying interest current account in the UK presently is the Nationwide Flex Direct Account paying 5% on up to balances of £2,500. After a year the account drops to 1%.

You could also consider their FlexPlus Account which pays a lower 3% on or up to £2,500, but with the rate staying at that level. However to get this deal a monthly fee of £13 is charged for the privilege.

For savers with larger deposits of money Santander 123 Account pay 1.5% on balances up to £20,000 plus you get 3% cashback on household bills paid from your account. This account comes with a monthly £5 fee.

It is in August and September that UK Banks start to bring out their latest student current account offerings. Banks are understandably keen to get your business. Research shows that one you set up a current account you are unlikely to move it.