Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Latest cash incentive Vs returns up to 5%

Author: Anna Bowes
20th July 2016

Savings Champion Rate Alert

Wednesday 20th July 2016

Current accounts continue to be one of the most competitive areas of the market and are a great way for savers to boost their overall returns.

A number of cash incentives are available to those who are willing to switch their current account. The latest comes from M&S Bank, which is offering up to £220 in M&S gift cards, £100 when you switch your current account and then an additional £10 per month for 12 months, subject to terms and conditions.

Whilst this cash incentive is one of the largest on the market at the moment, to take advantage you would need to switch your account and you would not receive interest on balances held in the account.

High interest rates are another way that providers are attracting customers, with rates far in excess of those available from most traditional savings accounts.
 
The good news 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.

Below is a summary of the best interest rates currently available. Click on the links for more information.

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

£0 - £3,000

 3.00%
Full 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

Vanquis Bank (5 years)

2.31%

Variable Rate ISAs

Clydesdale Bank / Yorkshire Bank

1.50%

Fixed Rate Cash ISAs

Nationwide Building Society (5 years)

2.00%

Notice Accounts

 Charter Savings Bank

1.55%

Monthly Income

Vanquis Bank (5 years)

2.29%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax / Saffron Building Society (Regular Saver)

4.00%

Junior ISAs

Coventry Building Society / Nationwide Building Society

3.25%

Help to Buy ISAs

Buckinghamshire Building Society

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.