Club Lloyds 4% current account

OnlyMe_08

Can anyone clarify whether you need to have active or paying direct debits to qualify for interest?

anna42hmr

OnlyMe_08 wrote: »

Can anyone clarify whether you need to have active or paying direct debits to qualify for interest?

They have to pay out each month (from Lloyds website):

Benefits:

Up to 4% AER variable credit interest
Earn credit interest on your whole balance up to £5,000, if you pay two separate Direct Debits each month. If your balance is:

£4,000 to £5,000, you'll earn 4% AER
/ 3.93% gross
on it all.
£2,000 to £3,999.99, you'll earn 2% AER / 1.98% gross on it all.
£1 to £1,999.99, you'll earn 1% AER / 1% gross on it all.
Find out more

Monthly fee
Having a Club Lloyds current account is free if you pay in £1,500 a month, otherwise it costs just £5 per month.