Compare High Interest Current Accounts
High Interest Current Accounts
Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.
Why we like it: 3.0% AER fixed interest on balances up to £2,500. No fees on arranged overdrafts up to £250. UK & Europe Breakdown Cover, Worldwide family travel insurance. Free mobile banking app, text alerts and secure online banking. £13 monthly account fee
Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.
Why we like it: Free gift worth up to £150 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 months
Why we like it: Everyday current account. 3 months interest-free overdraft and no monthly account fee
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
Finding the best current account
While the average easy access savings account is paying just under 0.4% interest, surprisingly some of the best interest-earning accounts in the UK market presently are current accounts.
With a number of banks keen to attract new customers some high interest current accounts are paying competitive interest. These accounts have different criteria and we have summarised below some of the most attractive accounts currently on offer:
Nationwide FlexDirect »
Whilst general interest rates are low some banks and building societies are offering high interest current accounts as an alternative. Nationwide Building Society's FlexDirect Current Account offers a rate of 5% AER for short term savings.
- Fixed interest for a year on balances up to £2,500 - 5% AER
- No monthly fee
- 12 month fee-free overdraft available
- Interest drops to 1% in subsequent years
- Must pay in £1,000 per month
- FSCS Protected
Click here for more information and to apply for Nationwide FlexDirect
First Direct 1st Account »
Online bank First Direct offer some great rewards for switching into their First Direct 1st Current Account.
- Free gift for switching worth up to £150
- £250 free of overdraft interest
- Satisfaction guarantee - if you leave within 6 months you'll get £100
- No monthly fee (if paying in over £1,000 per month)
- 91% of First Direct customers say they are 'extremely satisfied' or 'very satisfied' with their current account (Source: GfK FRS)
- First Direct is a division of HSBC UK Bank plc
- FSCS Protected
Click here for more information and to apply for First Direct 1st Current Account
Santander 123 Current Account »
Santander's popular 123 Current Account combines a competitive interest rate of 1.5% AER with up to 3% cashback on household bills.
- 1.5% AER payable on entire balances up to £20,000
- Up to 3% cashback on household bills - 1% on water, council tax bills and Santander mortgage payments, 2% on gas and electricity bills, and 3% on mobile phone, home phone, broadband and paid-for TV packages
- Monthly fee of £5
- Access to 1|2|3 World offers, including preferential rates and special deals on other Santander products
- Must pay in £500 per month
- FSCS Protected
Click here for more information and to apply for Santander 123 Current Account