Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 New offer from HSBC launched

Author: Anna Bowes
07th June 2016

Savings Champion Rate Alert

Tuesday 7th June 2016
Current accounts are one of the most competitive areas of the market at the moment and there are a number of ways that providers are tempting customers in.

There are cash incentives available to those who are willing to switch their current account. The latest comes from HSBC which is offering up to £200, £150 when you switch your current account and an additional £50 after 12 months, subject to terms and conditions.

However, whilst this cash incentive is one of the largest on the market at the moment, the current accounts available do not pay interest on balances held in the accounts.
High Interest Current Accounts are another way that providers are attracting customers, with rates far in excess of those available from many 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 switching your main account.

Below is a summary of some 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

£1 - £3,000
3.00%
Full High Interest Current Account Best Buy Table »

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
Charter Savings Bank

1.55%

Monthly Income

Punjab National Bank (5 years)

2.75%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax (Regular Saver)

4.00%

Junior ISAs

Halifax

3.00%

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.