interest paying current accounts

JPM28

Thanks to this site, we now receive over £100 monthly in interest on current accounts with Nationwide Flex Direct, TSB, Bank of Scotland and Halifax. WOW!!!

Dan83

Well done, £100 of free money every month.

I'm currently opening worth while accounts for my saving but I won't be anywhere near you.

leebo87

How much do you need to have spread across these accounts to receive £100pm??

Eco_Miser

A quick estimate:
£100 pm = £1200 pa
times 20 (÷5%) = £24000
The true averaged rate will be less than 5%, so over £24000 is needed.

bigfreddiel

I make £200/ month tax free on Santander 123x3, TSBx4 and Tescox4, that's £2,400 a year. I could do better, but I'm lazy and I know it.
TSB is a bit dodgy tho'.

People laugh at me tho' when I tell them I get 3% on £3,000 in a Tesco account, they say but that's only £8/month, hardly worth the effort, then I see them working at weekends for the overtime.

Then you tell them how a little work opening a few more accounts generates £2,400 extra annual income, whic at basic rate tax and NI they would need to earn about £3,500 extra, a whole load of overtime!

Cheers fj

Of course I forgot, you need the capital to fund these accounts in the first place.

fromtheshires

Welcome to the club. stick around, have a coffee an continue to post