MoneyExpert: Find The Best Current Account For You

Two current accounts available at the moment could suit different financial needs while offering an annual equivalent rate (AER) of over five per cent.

If looking to pay in over £500 per month, the Premier Direct Current Account from Alliance & Leicester offers a 6.1 per cent AER – which is fixed until the end of 2007 – on balances up to £2,500 and ten per cent AER on those over £2,500.

There is no interest charged on the account’s overdraft for the first 12 months and a 5.9 per cent effective annual interest rate (EAR) thereafter. The account has no monthly fee and can be accessed online.

Alternatively, if planning to pay over £1,000 per month into a current account, the Halifax High Interest Current Account could be suitable.

It offers an AER of 5.12 per cent on balances up to £2,500 and a further 0.1 per cent AER/gross per annum for anything above this amount. The account also has an overdraft facility with a typical EAR of 15.9 per cent.

This article: © Moneyexpert Ltd.

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