For months with no withdrawals, the account pays 3.50 percent AER/3.45 percent gross per year. To get it, youll need to open its reward or ultimate reward current account. Barclays does allow withdrawals on the Children's Regular Saver, but it can impact the interest rates. Some current accounts pay a certain level of interest on balances held within the account, but a few offer a higher than standard rate of interest. Halifax Current Accounts Guide. /0.50% gross Gross rate Gross rate means that we will not deduct tax automatically from your interest. Item EAR* AER**/Gross Gross Monthly Interest; Credit Balance 0.05% 0.05%: Arranged overdraft: 19.90%: 18.29 %: 18.29 %: Representative Example; The interest rate for using an arranged overdraft limit of 1,200 is 19.90% EAR Variable. Whilst it is not easy to get a good interest rate at the moment there are some high interest current accounts that have quite good rates: Virgin Money Current Account Virgin Moneys Current Account has a 2% interest rate without you having to pay in a certain amount to qualify for it. So for example, your account might pay 2% interest on anything up to 1000, and then 1.2% on anything from 1,001 to 1,500, and then no interest on anything over 1,500. Winner: Virgin Money. This is the annual interest rate of an overdraft. HALIFAX will pay you 100 if you leave your bank and switch to one of its current accounts. Current accounts often give you higher rates than elsewhere, though with limits. A feature of some current accounts is called Control, which stops you going overdrawn by more than any arranged overdraft limit. Quick & simple comparison of rates, terms & types to calculate your monthly repayments for Halifax mortgages. Interest paid annually. Un-tiered, interest-free arranged overdraft up to 1,500 in the 2nd and 3rd years of study. However, this account has a low interest rate. Ideally, you want a high AER on your balance and a low AER on your overdraft. Compare current account deals choose the type of account youre looking for and well show you a list of offers. Compare accounts. While regular savings accounts can pay higher rates of interest, the problem with them is that it takes time to build up the amount of money you have in there. Arranged overdraft limits and interest rates vary based on your individual circumstances. Halifax's stablemate Lloyds Bank offers its Club Lloyds account, which pays a blended interest rate of around 1.2 per cent on balances of up to 5,000, although this https://www.finder.com/uk/current-accounts/halifax-current-accounts Start with as little as 1. It pays 1.51 percent AER/1.50 percent gross per year for months with withdrawals. New customers. On February 5th, Halifax will be offering six per cent gross (6.17 per cent AER) on the account and to launch the product, will give any person switching to the any Halifax current account 100. Current account rates. Most applicants get an instant decision, but sometimes an application is forwarded for manual review which can take a few working days. Next up is TSB, which is cutting the interest rate on its Classic Plus current account from five per cent to three per cent from 4 January. The highest interest rate at the moment is from Virgin Money, giving you 2.02% on 1,000. These come with month There are quite a few current accounts on the market that charge interest according to a tiered system. You dont necessarily have to have your current account with Halifax to apply for a Halifax personal loan, but there are some potential benefits if you do.