No notice period. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the FSCS
Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the FSCS
Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older
Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.45% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. FSCS protected
Unlimited withdrawals subject to 95 days notice. No notice period. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the FSCS
The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the FSCS. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals only
Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must have a linked UK current account
All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Unlimited withdrawals subject to 14 days notice. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the FSCS
3 penalty-free withdrawals in a 12 month period. 4.72% AER/4.62% gross (3.82% AER/3.75% gross + 0.90% AER/0.87% gross 12-month boost). Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. 3.62% AER/3.55% gross if 4 or more withdrawals are made within 12 months (on boosted rate). 2.72% AER/ 2.68% gross if 4 or more withdrawals are made within 12 months (without 12 month boost). Must be UK resident. Must be aged 18 or older
When it comes to the ‘best’ current account, it really depends on your circumstances and what you’re looking for in a bank account.
That being said, there are some great current accounts offering rewards, incentives and high rates of interest at the moment so it’s worth shopping around and making sure your account is working for you. Here are a selection of current accounts which we think could be the best for you at the moment:
Best for Interest on Lower amounts
TSB Classic Plus - This account has one of the lowest minimum monthly pay-ins at £500 per month so is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.
They also offer one of the highest rates of interest on balances of up to £2,000. Interest is paid monthly and to earn it you simply pay in a minimum of £500 a month and register for Internet Banking, paperless statements and paperless correspondence.
Bonus: One of the biggest incentives on offer is the opportunity to earn 5% cashback a month on the first £100 of contactless payments. This includes Apple and Android Pay, up until 30 September 2017.
Other accounts that offer great interest on lower amounts:
Nationwide Flexplus account – however, this is for one year at a fixed rate of 5% before falling to 1% in subsequent years.
Best for interest on Higher amounts
Santander 123 - This account wins for those with savings above £10,000 - or will once the others banks' rate cuts have come into effect.
Currently, you can get 3% on balances from £3,000 to £20,000, but from 1 November 2016 it will chop its headline rate and will pay 1.5% on up to £20,000. Even after that though, it will still be a winner for many bigger savers.
This account does have a £5/month fee which is automatically taken from the account each month but for most users that's more than covered by the 3% cashback this account gives on utility bills paid by direct debit from the account. Cashback is paid directly in to your account.
Bonus: You are also able to have two accounts in your name, but one must be joint – meaning couples can save £60,000 between them.
Best Switch Reward
Halifax Current Account- this account has some great features including a £100 switch reward, paid into your account before your switch is complete.
Bonus: If you’re able to pay £750 or more in to your account, pay out at least 2 different direct debits and stay in credit each month, you could earn £5 each month with their Reward Current Account.
Combine this option with the Switch Reward and you could earn £160 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.
Other accounts which also offer excellent Switch rewards include:
First Direct, Co-operative and HSBC. These accounts are all offering £100 or more for switching.
Best Cashback Rewards
NatWest Reward Account - There are no monthly payments on this account making it a great option for those who are unable to meet the high minimum payment requests of some other accounts.
There is, however, a £3 charge per month.
The rewards you can earn on this account are similar to the Santander 123 account in that you can earn cashback on your household bills.
As this account is a cheaper option than the Santander account it’s a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.
The scheme is quite simple, you can automatically earn 3% on seven kinds of household bills, including council tax. As soon as you reach £5 in rewards you can exchange it for £5.
Other accounts offering cashback deals:
TSB are currently offering 5% of cashback on the first £100 of contactless purchases.
This is a brief overview of some of the excellent current accounts on offer at the moment but use our website to find out further details on each of these accounts and more.
