Interest-paying Current Accounts
10th April 2020 05:57
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FlexDirect Account |
Classic Plus account |
1|2|3 Current Account |
Vantage Current Account |
Club Lloyds Current Account |
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AER What's This? |
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5.00% |
3.00% |
1.50% |
1.00% |
1.00% |
Gross Interest Rate What's This? |
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4.89% |
2.96% |
1.49% |
0.99% |
0.99% |
Minimum opening balance |
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£0 |
£0 |
£1 |
£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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Branch |
Online, Branch, Phone |
Online, Branch |
Online, Branch, Phone |
Online, Branch, Phone |
Account summary |
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Easy access. Rate includes a conditional bonus for the first 12 months, subject to a minimum of £1,000 deposited per month. After the first 12 months, or if this condition is not met, the rate will reduce to 1.00%. The 4.89% gross / 5.00% AER interest rate is only paid on balances up to £2,500. Balances above £2,500 will not receive any interest. 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. Interest is paid on the 1st of each month. |
Easy access. The 2.96% gross / 3.00% AER interest rate is only paid on balances up to £1,500. Balances above £1,500 will not receive any interest. 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. Please note, the interest rate on balances up to £1,500 will reduce to 1.49% gross / 1.50% AER with effect from 2 May 2020. |
Easy access. A minimum of at least £500 must be paid into the account each month and have at least two active Direct Debits to qualify for this interest rate. This account also has a monthly account fee of £5. The 1.49% gross / 1.50% AER interest rate is only paid on balances up to £20,000. Balances above £20,000 will not receive any interest. Interest is paid monthly. Please note, the interest rate on balances up to £20,000 will reduce to 1% gross/AER with effect from 5 May 2020. |
Easy access. 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. Interest rate is tiered, £1-£3,999 0.99% gross / 1% AER, £4,000 - £5,000 1.98% gross / 2% AER. Balances above £5,000 will not receive any interest. Maximum of three Vantage Current accounts allowed across Bank of Scotland and Lloyds Bank. 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. |
Easy access. 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 the month. Interest rate is tiered, £1-£3,999 0.99% gross / 1% AER, £4,000 - £5,000 1.98% gross / 2% AER. 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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Own Licence |
Own Licence |
Shared Licence |
Shared Licence |
Shared Licence |
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