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Written by our founders Anna and Sue

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Regular updates on the savings market

🔔 Cash Incentives or High Returns?

Author: Anna Bowes
24th May 2016

Savings Champion Rate Alert

Tuesday 24th May 2016
There are a number of cash incentives out there for those who are looking to switch their current account and they can be a real boost to your income in the short term.

Below are some of the largest on offer at the moment...
If you are a Nationwide current account holder and you recommend them to a friend or family member, you can share £200, if they then switch to Nationwide.

What's more, you can combine this with the FlexDirect Current Account paying 5% AER on up to £2,500, which could lead to better returns all round.
You could receive up to £160 in the first 12 months, with a £100 switching offer and a £5 monthly reward from Halifax, when you open its Reward Current Account.
Co-operative Bank is offering a £150 switching bonus on its Current Account, plus up to £5.50 per month for those who opt in for its Everyday Rewards.
However, not everyone is happy to switch and the good news is you can still take advantage of the high returns on offer from some current accounts.

You do not have to switch your current account to take advantage of any of the rates below, click on the links for more information on the accounts.
Provider Account Name Balance AER
TSB Bank

Classic Plus Account

£1 - £2,000

 5.00%

Nationwide Building Society

 FlexDirect Current Account

£1 - £2,500

 5.00%
Lloyds Bank

Club Lloyds Current Account

£4,000 - £5,000

 4.00%

Santander

 123 Current Account 

£3,000 - £20,000

 3.00%

Tesco Bank

 Current Account

£1 - £3,000

 3.00%
Best Buy Tables »

Best Savings Deals Summary

If you have any queries regarding our Best Buy Tables, an account featured or the suitability of the account for your needs, please call us on 0800 321 3581

Best Buy Table Best Account(s) Best Rate (AER)

High Interest Paying Current Account

TSB Bank /
Nationwide Building Society

5.00%

Easy Access

RCI Bank*

1.45%

Fixed Rate Bonds

Punjab National Bank (5 years)

2.75%

Variable Rate ISAs

Clydesdale Bank

1.50%

Fixed Rate Cash ISAs

Punjab National Bank (5 years)

2.50%

Notice Accounts

 Shawbrook Bank

1.70%

Monthly Income

Punjab National Bank (5 years)

2.75%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax (Regular Saver)

6.00%

Junior ISAs

Halifax

4.00%

Help to Buy ISAs

Virgin Money

3.00%

* Deposits held with RCI Bank are covered by the FGDR, which is the French equivalent of the UK Financial Services Compensation Scheme (FSCS). Please contact us if you would like further information.

Our Best Buy Tables are based on whole of market research, independent and have no commercial bias, ensuring that you can rely on them to make an informed decision. Alternatively, please call us on 0800 321 3581 to discuss your savings with one of our expert advisers.