Banking
Account Offer |
Interest Rate [AER] |
Auth Overdraft Rate |
Comments |
More Details |
|---|---|---|---|---|
 Premier Direct Account |
8.5% up to £2,500 |
0% for 12 months |
No fees if account in credit and interest rate applies to balances up to £2,500. [0.1% for £2,500+] |
|
 Bank Account |
0.1% |
18.8% |
No account fees if in credit, free 24/7 telephone and online banking. |
|
Bank Account Plus |
8% up to £1,000, 2.5% up to £2,500 |
0% for 2 months |
Account fee applies - £6.47 p/month for 6 months then £12,95 p/ month, 1 month's notice req. Preferential rates or discounts for mortgages, insurance, overdrafts and savings. Worldwide family travel insurance - includes winter sports cover |
|
Today’s banks and building societies provide a valuable service to consumers, enabling them to keep their money safe, save up for their future, and enjoy access to a wide range of financial products. Banking has changed quite dramatically over the years, and today there are more major players than ever in the world of bank accounts, which means that consumers have far more choice when it comes to which bank looks after their money and which gets their custom when it comes to financial products such as loans and mortgages.
When it comes to banking it is not just about finding somewhere to have your salary paid in – you need to consider the different types of accounts, such as current accounts, savings accounts, business accounts, etc. You also need to consider the interest rates that the bank pays on your money, as when you make a deposit you will want to see it grow. Banks may pay interest in different ways too, such as compound interest on your savings, so this is something else you will want to look into when selecting the right bank for your needs.
Competition between banks is fierce these days, and this is why you will often see banking institutions offering free gifts and incentives to those that open accounts with them and use these accounts for their day to day financial needs. However, although the offers of free gifts and bonus cash into your account may seem tempting make sure you look at the big picture before you make your decision – for instance, what sort of interest rates will the bank pay on deposits and savings? Is there a good choice of accounts on offer for the consumer? Are there any other longer term benefits to joining a particular bank?
By choosing the right banking facilities and savings accounts you can see your money grow and earn a good rate of interest, which is a great way to make your own money work harder for you. You will find that most major banks and building societies provide all the details you need online, so you can compare the different facilities, accounts, and benefits with ease. Those with a poor credit rating may be limited with regards to the type of account that they can open and the banks with which they can open accounts, but there are still facilities available, although these accounts may be far more basic than those offered to good credit consumers.
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