current accounts that pay interest

vixen1500
vixen1500 Posts: 639 Forumite
First Post First Anniversary Combo Breaker
in Savings & investments
Any others other than Santander and Lloyds vantage??

Thanks
Typically confused and asking for advice

Comments

  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    They are about the only two that I know of.
  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    Halifax has the flat rate account of £5 a month, if you count that.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • alanq
    alanq Posts: 4,216 Forumite
    Combo Breaker First Post
    edited 16 April 2012 at 10:43PM
    Coventry Building Society
    N.B. £1000pm monthly deposit required. This account does not come with a cheque book .

    Leeds Building Society
    No cash withdrawals. (So no Debit Card? They do have a Credit Card) Minimum balance of £2,500 to gain interest.

    There are others - most with monthly fees.
    http://www.money.co.uk/current-accounts/high-interest-current-accounts.htm
  • vixen1500
    vixen1500 Posts: 639 Forumite
    First Post First Anniversary Combo Breaker
    Thanks guys, - Already got the Halifax, but dont want to leave a balance sitting there - though not sure what rate the reward would work out to? At 3% interest how much you would need to have in the account to get the £6.25 per month (non-taxpayer) or £5 as a taxpayer? Is there somewhere on the site to work this out?
    Typically confused and asking for advice
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    £2500 * 0.03 = £75.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    vixen1500 wrote: »
    Already got the Halifax, but dont want to leave a balance sitting there - though not sure what rate the reward would work out to?
    The "rate" can't be calculated (it's an infinite number) because you can make £60/£75 a year with a zero closing balance at the end of each day (which is what I have on 3 of my Reward accounts).
    At 3% interest how much you would need to have in the account to get the £6.25 per month (non-taxpayer) or £5 as a taxpayer? Is there somewhere on the site to work this out?
    I assume by "the account" you mean an account other than the Halifax Reward account?

    Haven't seen anything, but it's just basic maths...

    (All figures gross)

    12 x £6.25 = £75

    If £75 = 3%, then divide by 3 and multiply by 100

    So £75 / 3 x 100 = £2,500
  • vixen1500
    vixen1500 Posts: 639 Forumite
    First Post First Anniversary Combo Breaker
    YorkshireBoy wrote: »
    The "rate" can't be calculated (it's an infinite number) because you can make £60/£75 a year with a zero closing balance at the end of each day (which is what I have on 3 of my Reward accounts).I assume by "the account" you mean an account other than the Halifax Reward account?

    Haven't seen anything, but it's just basic maths...

    (All figures gross)

    12 x £6.25 = £75

    If £75 = 3%, then divide by 3 and multiply by 100

    So £75 / 3 x 100 = £2,500

    Right - so this would therefore mean if I left £2500 in account paying 3% for a year I should get the same as my Halifax reward account pays me???? So by moving the money from "the account" (I meant the Halifax account) my money earns me money twice.

    But as you only need to fund the Halifax account with £1000 per month to get your reward - and as you said - you can take it out the same day. There is no way to work out an interest rate - think I've got it now :j
    Typically confused and asking for advice
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.7K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards