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Compare High Interest Current Accounts

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 5.00%

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. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. 3.0% APR Representative. Must be aged 18 or older

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Interest AER 1.50%

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.

Virgin Money
Virgin Money Current Account Virgin Money
Open With £0
Account Type Current Account
Interest AER 0.5%

Why we like it: 0.50% AER (variable) payable on your entire balance up to £2,000. Linked to instant access savings account currently paying 1.00% AER, paid quarterly. Apple Pay & Google Pay enabled contactless debit card. Rated ‘outstanding’ by Moneyfacts. Must be 18 or older and a UK resident. No account fee. No minimum funding required to open account or requirement to pay in regularly

Nationwide
FlexPlus Current Account Nationwide
Open With £1
Account Type Current Account
Features Free insurance

Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee

Nationwide
FlexAccount Current Account Nationwide
Open With £1
Account Type Current Account
Features No monthly account fee

Why we like it: Everyday current accout. No monthly account fee. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. 3.0% APR Representative (terms and conditions apply)

NatWest
Select Account Natwest
Open With £0
Account Type Current Account
Features No monthly account fee

Why we like it: Everyday current account. No monthly account fee. Get a contactless Visa Debit Card. Pay with your phone with Apple Pay and Google Pay™ and bank on the go with our easy to use Mobile Banking app. Must be 18 or older and UK resident

Disclaimer: To apply for this account you must be aged 18 or over and a UK resident

Royal Bank of Scotland
Select Account Royal Bank of Scotland
Open With £0
Account Type Current Account
Features No monthly account fee

Why we like it: Everyday current account. No monthly account fee. Get a contactless Visa Debit Card. Pay with your phone with Apple Pay and Google Pay™ and bank on the go with our easy to use Mobile Banking app. Must be 18 or older and UK resident

Disclaimer: To apply for this account you must be aged 18 or over and a UK resident

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

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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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.