Current Account Comparison Table 26/07/2007
Interest income based on £6,000 balance for 12 months
| Provider | Product | Funding required | Credit interest AER | Payable up to | Interest earned per year | Remaining balance | Reverts to credit interest Rate | Annual standard Interest | TOTAL INTEREST |
| Abbey | The Abbey Current (Credit option) | £1,000 | 6.30% | £1,000.00 | £63.00 | £5,000.00 | 0.25% | £12.50 | £75.50 |
| Halifax | High Interest Current Account | £1,000 | 6.17% | £2,500.00 | £154.25 | £3,500.00 | 0.10% | £3.50 | £157.75 |
| Alliance & Leicester ** | Premier Direct Current Account YEAR 1 | £500 | 6.1%* | £2,500.00 | £152.50 | £3,500.00 | 0.10% | £3.50 | £156.00 |
| Year 2 | (Base rate less 1%) | 4.25% | £2,500.00 | £106.25 | £3,500.00 | 0.10% | £3.50 | £109.75 | |
| The Coventry * | Coventry First | £1,000 | 5.85%* | N/A | £351.00 | 0 | 0 | 0 | £351.00 |
| Year 2 | 5% | N/A | £300 | 0 | 0 | 0 | £300.00 | ||
| Norwich & Peterborough | Gold Current Account | £1,500 | 4.85% | £5,000.00 | £242.50 | £1,000.00 | 0.25% | £2.50 | £245.00 |
| Nationwide | Flex Account | £1,000 | 4.25% | £3,000.00 | £127.50 | £3,000.00 | 0.25% | £7.50 | £135.00 |
| Lloyds TSB | Classic Plus | £1,000 | 4.25% | £5,000.00 | £212.50 | £1,000.00 | 0.10% | £1.00 | £213.50 |
| Cahoot | Current Account | N/A | 3.65% | N/A | £219.00 | 0 | 0 | 0 | £219.00 |
Source: Moneyfacts.co.uk the money search engine 19.03.2007
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| ** Rate reduces to Base rate minus 1% in year two (would currently equate to 4.25%) | |||||||||
| * Rate includes bonus of 0.85% for first 12 months | |||||||||
** Rate reduces to Base rate minus 1% in year two (would currently equate to 4.25%)
* Rate includes bonus of 0.85% for first 12 months
Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.
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