Use this comparison to find high interest current accounts. It shows the interest rate each account offers, but to find the best one you can also check:

The account requirements

For current accounts with interest you have to:

  • Pay in a minimum amount each month. This can come from your wages or other credits to your account like a bank transfer.

  • Pay direct debits or standing orders from it. Some accounts have a minimum number of automatic bill payments you must set up on them.

  • Pay a fee each month or each year on some accounts, although many are free if you meet their other conditions. If there is a fee, make sure it is lower than the interest you could earn.

This comparison includes details of the requirements and fees for each account. Make sure you can meet the conditions of the accounts you compare because you may not earn any interest otherwise.

Will you earn interest?

Current accounts with interest only earn interest when you have money in your bank account. If you want to use your bank account to borrow money, you will not earn interest while you are in your overdraft.

If the overdraft charges interest and fees, these could come to more than the amount of interest you earn each month.

This means that high interest accounts are most suitable if you always have a positive balance. If not, a free overdraft could save you more money.

How to get the best current account interest rates

To get the highest current account interest rates, you'll need to compare as many high interest current accounts as you can from different providers.

Unless earning the highest interest rate is your priority, make sure you're also aware of all the features that come with the account.

How to work out what type of bank account suits you

Check the limits

Some bank accounts limit the balance they pay interest on. For example, if they only pay interest on balances up to 2,000 and you have 3,000 in your account, you only earn interest on the first 2,000.

You could either:

  • Keep 2,000 in the current account and put the rest in a savings account instead

  • Look for an account that pays interest on balances up to 3,000 or more

Use this comparison to check the details of the maximum balance you can earn interest on for each account.

Should you get a savings account or a high interest current account?

High interest current accounts FAQs


Can I get an overdraft with my bank account?


Yes, but you will not earn any interest when in your overdraft and it could work out cheaper to get an interest free overdraft.


How do I switch to a high interest account?


You can use the Current Account Switch service to move to a new bank in just seven days.


Could I get a better rate with a savings account?


Some savings accounts have higher rates and maximum balances but may come with some restrictions. Here is how to decide which is right for you.


How often will I receive interest?


Most accounts pay interest every month as long as you have enough money in your account to earn any. Others pay interest annually.


Will my interest rate be fixed?


No, they are usually variable, so your bank can increase or decrease your interest rate. You can switch to a new account if your rate goes down.

About our current accounts comparison


Who do we include in this comparison?


We include every personal current account in the UK. They are all regulated by the Financial Conduct Authority (FCA). Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.

Last updated: 17 November, 2020