The Bank of England has taken action to ease pressures on the economy by cutting interest rates by a quarter of a percentage point to 5%.
|
IN THE wake of the major blunder this week by HM Revenue and Customs (HMRC), which has left 25 million people at risk from potential fraud after computer discs...
|
|
Current Accounts
| Bank |
% Gross |
Interest Paid |
Deposit |
Notice or Term |
|
Alliance & Leicester
|
8.19 |
Mly |
£1 |
Instant |
Apply
|
|
Abbey
|
7.72 |
Mly |
£1 |
Instant |
|
|
Halifax
|
6.0 |
Mly |
£1 |
Instant |
|
|
Coventry BS
|
5.7 |
Mly |
£1 |
Instant |
|
|
Norwich & Peterborough BS
|
4.2 |
Mly |
£1 |
Instant |
|
|
Lloyds TSB
|
4.17 |
Mly |
£1 |
Instant |
|
|
Citibank
|
1.0 |
Mly |
£1 |
Instant |
Apply
|
Overdrafts
| |
Authorised |
Unauthorised |
| % per month |
EAR |
% per month |
EAR |
| Alliance & Leicester |
0.0% |
0.0%
|
0.0% |
0.0%
|
| Norwich & Peterborough BS |
0.623% |
7.74%
|
1.87% |
24.9%
|
| Nationwide BS |
0.79% |
9.9%
|
1.87% |
24.9%
|
| Intelligent Finance |
0.8% |
10.05%
|
1.89% |
25.25%
|
| Cahoot |
0.9367% |
11.8%APR
|
1.66% |
21.9%APR
|
| Abbey |
1.02% |
12.9%
|
2.12% |
28.7%
|
In Oct 2004, the best current accounts such as Alliance and Leicester were paying over 4% interest (before tax) (Source: Moneyfacts Oct2004) while some high street banks such as the Woolwich Plc were paying just 0.1%. (Moneysupermarket Oct 2004). Therefore a customer can earn up to 40 times more interest if they switch their money into a high rate current account.
Source: Moneyfacts. Date:01/07/2005. Please check terms and conditions before applying.
Get more information on our Best Buy selection criteria
Operated for The Scotsman Publications Limited by Moneywise. Moneywise distributes services supplied by Interactive Investor. Interactive Investor Trading Limited, trading as "Interactive Investor", is authorised and regulated by the Financial Services Authority. Use of this site signifies your agreement to our terms of use and privacy policy. All rights reserved.
Contact us
Terms of use
Privacy policy
|
