Savings Champion Rate Alert
Thursday 20th October 2016
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Interest rates continue to be cut left, right and centre and now it seems that even current accounts have not managed to escape the dreaded rate cutting axe. Santander, TSB Bank and Lloyds Bank have all announced rate reductions in the coming weeks and months.
Despite this, the rates still remain head and shoulders above those on offer on standard savings accounts. For example, Nationwide’s FlexDirect Current Account pays a rate that is a whopping five times higher than the best on offer currently on a standard easy access account.
So, with rates of at least 3% AER on offer, a new current account is certainly worth looking into. The top rates on offer at the moment are 5% AER from Nationwide, 5% AER (falling to 3% in January 2017) from TSB Bank and 3% AER from both Tesco Bank and Bank of Scotland.
The good news for savers is that many of these current accounts allow you to take advantage of the high returns on offer without having to switch your main account. Not only that but you can also open a combination of different accounts and receive a high overall return. |
As always, if you need any help with your savings or want to discuss this further, please call us on 0800 321 3581, we’d love to hear from you.
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