4% AER at Clydesdale and Yorks Bank until March 2015

Archi_Bald

Courtesy of sscott5581 who posted this over on the Bank Accounts forum

sscott5581 wrote: »

Clydesdale Bank and Yorkshire Bank have launched a new current account today - Current Account Direct paying 4% AER on balances up to 3K fixed until March 2015 and then reverting to 2% AER.

Just a head up for those interested.

Regards
Steven

Alas, you can't open those accounts online. Must go into Branch or call them, or ask to be called.

But 2 allowed per person, so might be worth to persevere.

http://www.cbonline.co.uk/personal/current-accounts/direct/
http://www.ybonline.co.uk/personal/current-accounts/direct/

Gromitt

Archi_Bald wrote: »

But 2 allowed per person, so might be worth to persevere./

Don't forget only 1 can be a sole account. If you want 2, second has to be a joint.

I'm not sure if you can have one with each bank though, quite possibly? If you can be bothered with 2 sets of internet banking logins for the £10/month interest (pre-tax).

ChopperST

Online link for Yorkshire Bank for those that are interested.

£1000 monthly funding requirement
4% AER on up to £3000 until March 2015
Then 2% AER

http://www.ybonline.co.uk/personal/current-accounts/direct/

Onawingandaprayer

Hmm. 4% on the maximum £3,000 is £120 pa, before tax. Probably about £8 pm after tax.

(and I've got to drive to Scotland to open one.)


Just saying...

apt

Gloucester is probably too far for you to bother as well, but last time I looked it wasn't in Scotland. Even those not near a Yorkshire/Clydesdale bank might benefit as it makes it less likely that the other banks and Nationwide that offer decent rates on current accounts will lower them.

Gromitt

Onawingandaprayer wrote: »

Hmm. 4% on the maximum £3,000 is £120 pa, before tax. Probably about £8 pm after tax.

Which is exactly the same as Nationwide's 5% on £2,500.

Archi_Bald

Gromitt wrote: »

Which is exactly the same as Nationwide's 5% on £2,500.

Very true.

And it was possible to open the FlexDirect online. Seems a lot of hassle to have to put the application in by talking to them - a process that could take a couple of minutes would waste 10-20 minutes at least. I'd probably do it if they offered 6% but not sure I can work up the enthusiasm for 4%. Great offer for someone who is into Branches and has a Branch near them, or those who love to chat with a bank on the phone.

Onawingandaprayer

Gromitt wrote: »

Which is exactly the same as Nationwide's 5% on £2,500.

That's why I'm 'happy*' with Santander 123...

*or less depressed than with other accounts.

YorkshireBoy

Bingo!

I've kept a largely dormant YB Current Account Plus running, purely so I can say "30 years +" when asked how long with bank.

And it appears I can re-designate online. Just need to bung £1,000 in beforehand so I can tick the box saying "I currently have £1000 per month (excludes internal transfers) credited in to my account".

It would be rude not to!

Even the 2% AER (albeit variable!) go-to rate isn't bad come April 2015.


EDIT: Actually this is perfect timing for the £3K surplus from my Lloyds Vantage accounts at the end of this month. Was going to throw it in my Nationwide ISA at 2.5%, but may as well make 3.2% for now.

patientperson

Onawingandaprayer wrote: »

Hmm. 4% on the maximum £3,000 is £120 pa, before tax. Probably about £8 pm after tax.
(and I've got to drive to Scotland to open one.)
Just saying...

There seems to be a facilty to open an account on-line.

http://www.cbonline.co.uk/personal/current-accounts/direct/

Archi_Bald

patientperson wrote: »

There seems to be a facilty to open an account on-line.

http://www.cbonline.co.uk/personal/current-accounts/direct/

That's not an application,it's an "enquiry form". You cannot apply online.