Interest-paying Current Accounts
29th May 2020 19:59
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Current account |
FlexDirect Account |
Classic Plus account |
Vantage Current Account |
Club Lloyds Current Account |
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AER What's This? |
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2.02% |
2.00% |
1.50% |
1.00% |
1.00% |
Gross Interest Rate What's This? |
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2.00% |
1.98% |
1.49% |
0.99% |
0.99% |
Minimum opening balance |
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£0 |
£0 |
£0 |
£1 |
£1 |
How to manage the account |
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Online, Branch, Phone, Mobile Banking |
Online, Branch, Phone, Mobile Banking |
Online, Branch, Phone, Mobile Banking |
Post, Online, Branch, Phone, Mobile Banking |
Online, Branch, Phone, Mobile Banking |
How to apply |
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Online, Branch, Phone |
Branch |
Online, Branch, Phone |
Online, Branch, Phone |
Online, Branch, Phone |
Account summary |
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If you're 18 or over, you can apply for this account online or over the phone, if you're 16 or 17, you can open it in some branches. Interest is only paid on balances up to £1,000. Interest is paid monthly. |
Interest rate reverts to 0.25% AER after the first 12 months. Rate also falls to 0.25% AER if a minimum of £1,000 is not deposited each month during the first year. Interest is only paid on balances up to £1,500. Interest is paid on the first day of each month. New customers can apply online but will be required to bring ID into a Nationwide branch to complete their application process, existing customers may also be required to do this. Existing customers can apply in a branch, online or via a mobile banking app. |
The interest rate is only paid on balances up to £1,500. A minimum of £500 must be paid in to the account each month and you must register for internet banking, paperless statements and correspondence (when available) to qualify for this interest rate. Customers can open the account without having an existing TSB current account or can add it to an existing current account with TSB. Interest is paid monthly. |
Vantage can be added to an existing account or selected when applying for a new account. A minimum of £1,000 must be paid into the account each month, you must stay in credit and pay at least two different Direct Debits from your account each calendar month to qualify for this interest rate. 1% AER is paid on balances up to £4,000, 2% AER is paid on any part of the balance between £4,000 and £5,000. Balances above £5,000 will not receive any interest. Although the account can be applied for and managed online or by telephone, the provider may need to see ID in a branch. Interest is paid on the 2nd of each month. |
A minimum monthly deposit of £1,500 and a minimum of two different direct debits each month are required. If these conditions are not met, a £3 fee will apply and no interest will be paid for that month. 1% AER is paid on balances up to £4,000, 2% AER is paid on any part of the balance between £4,000 and £5,000. Balances above £5,000 will not receive any interest. Interest is paid on the 1st of each month. |
Financial Services Compensation Scheme What's This? |
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Shared Licence |
Own Licence |
Own Licence |
Shared Licence |
Own Licence |
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