Saturday, March 15, 2014

TSB PLUS Current Account : 5% interest on first £2500

This account does not appear to be available until 30 March 2014

There has been a recent trend of free current accounts having the best interest rates available to entice new customers. The catches usually seem to be :

You need to put a certain amount in each month, usually around £1000
The interest might be on a limited amount
You may need to add some direct debits to the account
Some charge a monthly fee (check for free ones)

TSB PLUS Current Account
This current account is of special interest because :
You only need to put in £500 a month. Probably the lowest amount of this type of account
You don't need to add direct debits to the account
The interest is only on the first £2500, but that's £125 a year (before tax)
Online account only

Many people will earn more in this type of account than having large sums in savings accounts

More about TSB PLUS Curent Account on TSB site 



Related Links
Moneyfacts : List of high-interst current accounts
Moneyfacts : About TSB PLUS current account
Moneysavingexpert : About TSB PLUS current account
The Guardian article


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