TSB Classic Plus
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £500+ a month
£25 (+ £10 buffer) interest
& fee free, then 19.94% EAR
5% AER
(£1 to £2,000)
To earn 5% AER you must credit your account with £500 each month, register for internet banking, paperless statements and correspondence.
£25 interest and fee free overdraft subject to application and approval.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Nationwide FlexDirect => £1,000 per month
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £1,000+ a month
£0.50/day
(£10 buffer)
5% AER
(£1 to £2,500)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged £0.50 per day.
Santander 123 Current Account
Account Fee & RequirementsOverdraftHeadline Interest
£2 a month
pay in £500+ a month
£1.00/day
(£12 buffer)
3% AER
(£3,000 to £20,000)
Cashback and interest paid every month, every year. Independently rated 5 star by Defaqto and Best UK Bank by Euromoney
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged £1.00 per day.
Nationwide FlexPlus
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month£100 interest
& fee free + £0.50/day
3% AER
(£1 to £2,500)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged £0.50 per day.
Santander 123 Mini Current Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee-3% AER
(£300 to £2,000)
Flexible and adaptable banking, in a safe and controlled way. The 123 Mini Current Account is designed to provide a safe environment to learn money management and take the first steps towards financial responsibility for those aged between 11 and 18.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged EAR (variable).
Santander 123 Student Current Account
Account Fee & RequirementsOverdraftHeadline Interest
£500 +/ academic term.variable interest
& fee free
3% AER
(£300 to £2,000)
The 123 student current account that gives you 1/3 off rail travel in Great Britain for 4 years when you open a student current account and register for Online Banking and pay in £500+ per academic term.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 0% EAR (variable).
Clydesdale Bank Current Account Direct
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £1,000+ a month
9.9% EAR
(£25 buffer)
2% AER
(£1 to £3,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 9.9% EAR (variable).
Secure Trust Bank Prepaid Bank Account
0121 6676455
Account Fee & RequirementsOverdraftHeadline Interest
£12.50 a month-0.5% AER
No credit checks, No Hidden fees or charges, No charges for bounced Direct Debits or Standing Orders, earn up to 4% cash rewards.
Barclays Business Current Account Standard Tariff
Account Fee & RequirementsOverdraftHeadline Interest
£6variable EAR
(£30 buffer)
0.1% AER
Overdraft facility available up to £25k – T&Cs apply. 2% cashback on business loans over £10k – T&Cs apply.
TSB Student Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly feevariable interest
& fee free
5% AER
(£1 to £500)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 0% EAR (variable).
TSB Classic Plus with Control
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month
pay in £500+ a month
£25 interest
& fee free, then 19.94% EAR
5% AER
(£1 to £2,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Lloyds Bank Club Lloyds
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £1,500+ a month
£100 interest
& fee free, then 19.94% EAR
4% AER
(£4,000 to £5,000)
As long as you pay £1,500 or more into your account each month, Lloyds will waive the £5 Club Lloyds monthly fee. If in any month you don't pay in this amount, you will need to pay the monthly fee.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Lloyds Bank Club Lloyds Platinum Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£17 a month
pay in £1,500+ a month
£300 interest
& fee free, then 17.28% EAR
4% AER
(£4,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 17.28% EAR (variable) + £6 per month.
Lloyds Bank Club Lloyds Silver Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£9.95 a month
pay in £1,500+ a month
£100 interest
& fee free, then 19.94% EAR
4% AER
(£4,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Vantage Classic Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £1,000+ a month
£25 interest
& fee free, then 19.94% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Vantage Classic Account with Control
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month
pay in £1,000+ a month
£25 interest
& fee free, then 19.94% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Vantage Platinum Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£17 a month
pay in £1,000+ a month
£300 interest
& fee free, then 17.28% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 17.28% EAR (variable) + £6 per month.
Bank of Scotland Vantage Silver Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£9.95 a month
pay in £1,000+ a month
£50 interest
& fee free, then 19.94% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Santander 123 Graduate Current Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly feevariable interest
& fee free
3% AER
(£300 to £2,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 0% EAR (variable).
Tesco Bank Current Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee18.9% EAR
3% AER
(£0.01 to £3,000)
Available in England, Wales and Scotland only. For TSB and Clydesdale account holders £5 monthly account fee - which you don't pay if you deposit £750 a month. Earn 3.00% AER/2.96% Gross variable credit interest on balances up to £3,000.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 18.9% EAR (variable).

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How to Find the Best High Interest Bank Account

by Cormac_Reynolds

Finding a high interest current account can be a bit of minefield but if you know what to look for when you compare your options you can make your current account profitable. We show you what to be aware of.

Building Money

It's a sad fact that banks rarely reward their existing current account customers with high rates of interest on current account balances.

It's for this reason that you need to look at switching bank account if you've been with the same bank or building society for a while.

This is particularly the case if you keep your bank account in the black most of the time as you're missing out on the opportunity to earn something back on your positive balance.

Look at what your existing bank account pays in the way of interest and if it is a minimal amount consider switching.

However, looking for the best current account interest rates has a number of pitfalls that don't seem completely apparent on first viewing the accounts on offer. Looking at the fine print can really throw up some surprises and being aware of these factors can help you make an informed choice.

Reward yourself for staying in credit

You can't always assume that the rate you see advertised is the rate you will earn on your money forever as it may only be an introductory offer. So, when looking for a new account it is of optimum importance to find out if the advertised interest rate is artificially high and whether it will drop after a number of months or years.

If this is the case you shouldn't discount the account, but instead find out when the high interest rate will end and make a note to switch to one of the other high interest paying current accounts on offer the moment it changes.

You may also be obliged to put a certain amount of credit through the account each month to get the high interest rates. So when taking out a high interest bank account with a clause like this make sure you can comfortably meet the minimum monthly payments before you apply.

Many other high interest current accounts that offer the top rates do so in return for an obligatory monthly fee. While there may be added benefits on offer as part of the account package, the amount you're paying out would counteract the return you're getting from interest.

Cut the cost of being in an overdraft

Other banks offer the best bank account interest rates but alongside this give you an overdraft that charges significantly higher interest rates and costly fees that would eat away at any interest you earned.

Be aware of the overdraft, any rates relating to this and any interest free buffer available, especially if you tend to be in the red now and again.

The best case in a scenario like this is to find a current account that offers a high interest rate on balances and a low interest rate and few charges on the overdraft facility. This will mean you get the most from your bank account, with as few of down sides as possible.

All in all, a high interest current account can make a big difference if you keep large sums in your account at least part of the month.

Finding current accounts with interest rates that offer a decent return alongside a low overdraft rate is worth that bit of extra hassle as it will pay long into the future - just beware of the small print.

You can compare high interest bank accounts in our high interest current account comparison table.