Compare high interest current accounts

Your money could work harder with one of these current accounts by earning you more interest. You'll just need to check you can meet the account requirements.

3 results found, sorted by most popular. How we order our comparisons.
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British Bank Awards: Best British Bank 2021 Winner
Starling Bank Current Account
Account fee & requirements
No monthly fee
Arranged overdraft
£8.54 buffer, then 15% EAR variable
Interest rate
0.05% AER (on up to £85,000)
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 15% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.05%0.05%0.05%0.05%
£85,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Switch to Santander and receive £130. T&Cs apply.
Santander 123 Current Account
Account fee & requirements
£4 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0.3% AER (on up to £20,000)
£130 cashback when you complete a full switch to a Santander 123 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.3%0.3%0.3%0.3%
£20,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
Bank of Scotland Vantage Classic Account
Account fee & requirements
No monthly fee, pay in £1,000+ per month
Arranged overdraft
39.9% EAR variable
Interest rate
Up to 1.5% AER (on up to £5,000)
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.9% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.6%0.6%0.6%0.6%
£4,0001.49%1.49%1.5%1.5%
£5,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£1,000
Permanent UK Resident

Compare another type of current account

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How to find a high interest bank account

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?

How do I switch to a high interest account?

Could I get a better rate with a savings account?

How often will I receive interest?

Will my interest rate be fixed?

About our current accounts comparison

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Last updated: 17 November, 2020