This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

This comparison simply includes all savings accounts.

Yorkshire Bank
Signature Current Account Yorkshire Bank
Open With £1
Account Type Current Account
Features Shopping discounts plus insurance cover

Why we like it: Discounts available when you shop at certain major high street stores and supermarkets, as well as some holidays, cinema, concert tickets and events. All year round family travel insurance, UK breakdown cover, mobile phone and gadget insurance

Clydesdale Bank
Signature Current Account Clydesdale Bank
Open With £1
Account Type Current Account
Features Shopping discounts plus insurance cover

Why we like it: All year round travel insurance , UK breakdown cover, mobile phone and gadget insurance, and certain discounts available to account holders for some major stores and supermarkets, cinema tickets, holidays, events and concerts.

B
Current and Savings Account B
Open With £1
Account Type Current Account
Interest AER 0.5%

Why we like it: INNOVATIVE NEW BANKING SERVICE powered by Clydesdale and Yorkshire Banks. Get your current account and instant access savings account working together. Earn 0.50% AER on ALL instant access credit balances and 0.25% AER on current account balances up to £2,000. Fee free

Santander
123 Current Account Santander
Open With £1000
Account Type Current Account
Interest AER 1.50%

Why we like it: BEST SELLING CASHBACK CURRENT ACCOUNT. Earn 3.00% AER (variable) interest on balances from £3,000 up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.

First Direct
Current Account First Direct
Open With £1
Account Type Current Account
Features FREE £250 Overdraft £100 For Switching

Why we like it: £100 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. £100 if not satisfied after 6 months

NatWest
Reward Account Natwest
Open With £1
Account Type Current Account
Features 3% in Rewards

Why we like it: Top 20% of Reward Customers earn on average £217 - You can earn Rewards on Direct Debits from your current account for: • Council tax • Gas, electricity and water supply • Home and mobile phone, TV package and broadband fees

Disclaimer: To apply for this account you must be aged 18 or over. UK resident. Not been declared bankrupt in last 6 years.

Barclays
Bank Account Barclays
Open With £1
Account Type Current Account
Features Earn rewards of up to £180

Why we like it: Earn rewards of up to £180 a year when you bank with Barclays - Get an annual loyalty reward of £84 plus £60 on your Barclays residential mortgage and £36 on your Barclays home and contents insurance. Start earning rewards with a monthly £3 fee based on £800 paid into your account and 2 direct debits paid out every month

Best Joint Accounts

Joint accounts can be very useful things. It’s an easy way to avoid arguments over household spending and bills an can help with saving for a large purchase, such as an expensive holiday.

Many couples don’t shop around for a current account and instead simply open one with the bank they are already with but this may not be offering the best deal.

While any bank will offer a joint account, couples should ideally look for one which pays high interest or offers some form of cashback or switch reward in order to maximise their joint savings. Compare accounts below:

Rewards

Clydesdale Signature Current Account »

With a Signature account you get:

  • Annual travel insurance
  • UK breakdown cover
  • Mobile phone cover
  • Discounts from Sainsburys and Morrisons
  • Discounts on cinema tickets, holidays and concerts

This account has a £13.50 account fee - Click here for more information »

Santander 123

The appeal of the Santander 123 accounts are the cashback rewards.

This account does have a £5/month fee which is automatically taken from the account each month. 

You will earn interest on balances of up to £20,000 on this account which makes it a great option for joint saving.

The cashback you can receive on your household bills include:

  • 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to a maximum of £1,000)
  • 2% cashback on gas bills and electricity bills.
  • 3% cashback on mobile, home phone, broadband and paid-for TV packages

Santander 123 Lite

If you’re not looking for high interest rates but are interested in a cashback deal, the Lite account may suit you more as the £5 account fee of the original 123 account is reduced to £1.

You will receive the same cashback on monthly bills and still have access to the 123 World offers and special deals which Santander offer as standard.

To qualify for the cashback on both of these accounts you must:

Pay at least £500 into your account each month

Have at least two active Direct Debits - you'll receive cashback on any qualifying household bills you pay by Direct Debit

Useful to Know

  • Household bills don’t include TV licence, maintenance contracts (e.g. boiler repair cover), other insurance contracts, commercial use or commercial mortgages.
  • This account does not offer interest on your balance.

Natwest Reward Account

Natwest also offer a cashback reward account. There are no minimum monthly payments for this account making it a great option for those who are unable to meet the high minimum payment requests of some other accounts. There is, however, a charge per month of three pound.

The rewards you can earn on this account are similar to the Santander 123 account in that you can earn cashback on your household bills.

As this account is a cheaper option than the Santander account it’s a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.

The scheme is quite simple, you can automatically earn 3% on seven kinds of household bills, including council tax. As soon as you reach £5 in rewards you can exchange it for £5 which you can convert to money and transfer in to your current account or even use towards your Natwest credit card balance.

Natwest state that:

"There's no limit to the Rewards you can earn. On average, currently our customers earn £120 per year in Rewards, based on average monthly Direct Debits of £333 (£4,000 per year) and excluding the monthly fee."

High Interest Accounts

If you’re not likely to have a lot of bills coming out of the joint account then a high interest account is going to offer a better deal for you. Currently the highest interest accounts include:

Nationwide FlexDirect Current Account

Nationwide Building Society is the second-most-switched-to bank at the moment.

Nationwide FlexDirect pays 5% AER fixed for a year on £2,500, which would give you a maximum £122.25 interest. This rate is fixed for the first year you hold the account, which gives some security in a world of uncertain savings rates. The rate falls to 1% in subsequent years.

To incur the interest, you'll need to pay in £1,000+/month. So if you're after an account that pays you interest when you have money in your account, and if you prefer to do your banking online or over the phone then this could be the current account for you.

TSB Classic Plus Current Account

Described as the ‘current account that gives you plusness’, TSB offer a great deal on its Classic Plus current account. This account has one of the lowest minimum monthly pay-ins at £500 per month so is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.

They also offer 5% AER (variable) interest on balances up to £2,000. Interest is paid monthly and to earn it you simply pay in a minimum of £500 a month and register for Internet Banking, paperless statements and paperless correspondence.

  • They’re also currently offering 5% interest on the first £100 of contactless payments which you make.

Switch Bonuses

Currently the Co-operative bank and Halifax are both offering monthly cash rewards for switching to them.
The Co-operative’s Everyday Rewards incentive allows you to earn up to £5.50 per month for switching and depositing £800 a month in the account with 4 active direct debits

Alternatively the Halifax Reward Current Account will pay £5 into your joint account each month, giving you £60 in a year. To earn this reward you must pay £750 a month and pay two different direct debits from the account to trigger the bonus.

First Direct are also offering £100 cash for switching to them which is more than the monthly reward totals of both Halifax and Co-operative.

As these offers only last a year customers need to be proactive with switching their accounts after the year to maximise their saving potential.

Latest news

Are you getting 10% on your savings?

In these low interest times getting a decent rate of return on your cash is not easy. Surprisingly some of the best interest rates are available via current accounts.

Newsletter signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

Let's get social now! Twitter Facebook

About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.