High Interest Current Accounts

High Interest Current Accounts

Compare UK Current Account Deals That Pay High Interest

Earn up to 5% AER on your cash!

Some of the best rates of interest you will get on cash currently are on current accounts. E.g Nationwide offer 5% AER fixed (4.89% gross pa) in credit interest on balances up to £2,500 for the first 12 months

You can also benefit from switching your account. A number of banks now offer switch incentives. HSBC are currently offering £150 if you switch your current account to them. The good news is that switching is a lot easier than it used to be – basically the new bank account provider will do all the work in setting up your direct debits and standing orders etc.

For students looking for a good account Santander UK are offering a free railcard for 4 years as long as you are 18 and are in or are about to enter into full time further education.

Nationwide FlexDirect Account

Earn 5% AER Fixed Interest

  • On balances up to £2,500
  • Interest paid for first 12 months
  • No account fees
  • Easy online account management

Nationwide FlexDirect Account »

Offers

High Interest Current Account Offers

Account
Nationwide FlexDirect Current Account
Interest Rate
5.00%
AER fixed on balanced up to £2,500
Funding Required
£1,000 per month
Overdraft rate
0% for 12 months
Account
Nationwide FlexAccount Current Account
Funding Required
No minimum
Arranged Overdraft rate
18.9%
Account fee
No fee
Account
Nationwide FlexPlus Current Account
Interest Rate
3.00%
AER fixed on balanced up to £2,500
Funding Required
No minimum
Arranged Overdraft rate
50p per day
Account
Santander 1|2|3 Current Account
Interest Rate
1.50%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Overdraft rate
Up to £3 per day
Special Offers
Up to 3% cashback on household bills

Current Account Offers With Switching Incentives

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

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.

 

No Credit Check Prepaid Card

Nationwide FlexDirect Account

Earn 5% AER Fixed Interest

  • On balances up to £2,500
  • Interest paid for first 12 months
  • No account fees
  • Easy online account management

Nationwide FlexDirect Account »

Reviewers recommend Fair Investment Company

 

Offers