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What bank do you use for compound interest?

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I really want to start! Can anyone recommend a bank they use? And the interest rate?
**2018 G O A L S**
[STRIKE]1) Pay off overdraft[/STRIKE]
2) Pay off credit card by November 2018
3) Begin 2019 debt free and be debt free for the rest of my life!
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  • Jo_Blogs
    Jo_Blogs Posts: 753 Forumite
    Debt-free and Proud! Mortgage-free Glee!
    edited 9 April 2017 at 10:19AM
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 ;)Sept NSDs 4/15:staradminCCCChl 9/12 months:D
    Sept PPChl#002 Pts 71
  • any one found the name of the bank that provides account which gives compound intrest
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lloyds Bank
  • HappyHarry
    HappyHarry Posts: 1,786 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    NatWest Bank
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Post of the Month
    No, Barclays.

    Wait, was it Halifax?

    Maybe Nationwide but that's a building society not a bank, so it probably doesn't fit the brief, but I heard they had an account that paid compound interest too.
  • Funnily enough I bumped into someone on the street earlier and she said that it's actually the International Bank of Lagos (UK) Ltd that does this. The compound interest rate they currently offer is -99.9% which is pretty good I'm sure you'll agree.
  • jimjames
    jimjames Posts: 18,609 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Bankety Bank?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • firestone
    firestone Posts: 520 Forumite
    500 Posts Third Anniversary Name Dropper
    edited 29 December 2017 at 12:36AM
    a piggy bank will work - a penny a day doubled for a month and its time to retire
  • firestone
    firestone Posts: 520 Forumite
    500 Posts Third Anniversary Name Dropper
    edited 29 December 2017 at 12:38AM
    also good fun is the 365 day pay yourself chart 1p then 2p up to £3.65 on the final day- it adds up over the year without trying
  • Zanderman
    Zanderman Posts: 4,863 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I really want to start! Can anyone recommend a bank they use? And the interest rate?

    Not sure about the seriousness of your question!

    But, assuming it is serious, all banks pay compound interest.

    Only, of course, after the initial interest has been paid and only, of course, if the account continues to pay interest anyway after that interest payment.

    So - I'd recommend any bank. As for interest rates - look at the comparison tables on MSE main site.
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