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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
The current account currently betters several variable savings rates.
Challenger bank Kroo increased the rate on its high-interest current account to 3.03% AER today. This is earned on positive balances up to £85,000, the maximum protected by the Financial Services Compensation Scheme (FSCS).
Interest is also paid monthly, meaning it could be an ideal option for those looking to supplement their regular income.
As for other account features, it doesn’t come with a monthly fee while access to an overdraft is subject to eligibility.
One feature, which might entice future holidaymakers, is that it doesn’t charge fees for purchases made abroad.
This works in a similar way to Chase Bank’s current account, as spending is broadly accepted worldwide but is restricted to merchants who can facilitate Visa card purchases.
As a digital provider, opening and managing this account is done entirely online.
Kroo was founded in 2016 and secured its official banking licence last year. It currently markets itself as an eco-friendly bank which will plant two trees for every customer it gains. As for its current account, it previously offered a rate of 2.00% AER.
Kroo’s high-interest current account rate currently betters several different accounts on our savings chart.
On the easy access savings table Santander and Yorkshire Building Society offer better rates of 4.00% AER and 3.35% AER respectively, but these do come with deposit restrictions.
Meanwhile, the top easy access ISA comes from Virgin Money at 3.00% AER. Not only is this paid yearly, but it is 0.03 percentage points lower than the rate on Kroo’s high-interest current account.
Naturally, it’s important to remember that Kroo’s high-interest current account rate might be bettered, especially if the Bank of England increases interest rates on Thursday.
While Nationwide BS offers the best high-interest current account rate on the market, there’s the potential to earn more in interest through Kroo.
This is because Nationwide BS’s FlexDirect only offers a rate of 5.00% AER on balances up to £1,500. It means, according to Moneyfacts calculations, the most interest this current account could earn is £75.
By contrast, a balance of £2,500 in Kroo’s current account will match this payout.
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Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts. However, their fixed bonds are more competitive.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
Big banks continue to offer low returns on easy access accounts, while paying higher returns on fixed bonds.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts. However, their fixed bonds are more competitive.
Flexible savings rates from the big banks continue to lag behind the market-leading accounts.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
Big banks continue to offer low returns on easy access accounts, while paying higher returns on fixed bonds.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a re-launched 60-day notice ISA from The Stafford Building Society, and a two-year fixed rate mortgage from NatWest.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
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