The 123 Mini Current Account is designed to provide a safe environment to learn money management and take the first steps towards financial responsibility for those aged between 13 and 18. (4) This is the minimum rate that doesn't normally change with the Bank of England Base Rate. The rate we may offer could be higher than the advertised annual percentage rate (APR). At the end of the bonus interest rate period, your account will automatically revert to standard rates and your account number will remain the same. This could be your annual mortgage statement or a letter advising of a rate change. Min deposit £1000. You are in section Term Easy Access. Our current account helps you to have a more positive relationship with your money, ... if you save £300 every month for 12 months and qualify for the 1.00% AER/gross p.a. Interest AER 0.6%. Can first direct change the interest rate? Deposit matures 06 Jan 2022. Current Page. No, once your account is opened the rate will remain fixed for the duration of the term. For a list of all the cookies we use and what they do, please read our Gross is the rate of interest if interest were paid and not compounded each year. First Direct 1st Current Account If you like to have your overdraft as a safety net then the First Direct 1 st current account is a great choice with its £250 0% overdraft. Deposit matures 06 Jan 2022. After that, you’ll get 0.25% AER (0.24% gross p.a) variable. FIRST DIRECT has announced it has re-opened its current account to new customers, after the product was temporarily pulled due to the COVID-19 crisis. © HSBC Group 2019. Interest only Offset Mortgages. The rates are correct as at 1 February 2012. To find your current interest rate please check your most recent mortgage communication from us. As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,000 customers of each of the 19 largest personal current account providers if they would recommend their provider to friends and family. via your browser. Current rates available from 30 Nov 2020 to 06 Jan 2021. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees. Each account pays customers a fixed rate on balances of up to £3,000 (£3,600 for First Direct customers) but only for one year. you'll be charged £100 if you take your money out before the end of the fixed term and depending on when you do this, you could get back less than originally paid in. This example is based on our standard variable rate. © HSBC Group 2019. The loan amount you request will also impact the rate offered. the interest rate remains the same during the 12 months. The Current Account Switch Guarantee makes switching current accounts very easy indeed, and your bank will do most of the legwork for you, including transferring money, direct debits and standing orders, and informing your employer. Linked accounts could include 1st Account, Everyday Savings Account (no longer on sale) and Savings Account. Member HSBC Group. *EAR is the Effective Annual Rate which takes account of the interest rate and how often interest is charged, but doesn't include any other fees or charges. As such, cookies for this site are currently disabled. This product is no longer on sale, but here are the rates for information purposes. First direct customers that have a £250 fee-free overdraft won’t be affected unless they go over that amount, and interest will soar from 15.9% to 39.9% EAR. Our free, online account. Lock a fixed lump sum away for a fixed term of one year at a fixed rate and you'll receive 0.30% AER/Gross between £2,000 and £1 million. via your browser. This shows you what the rate would be if interest were paid and compounded each year. All you need to do is tell us the details of your old bank account … 1st Account does not pay interest on credit balances. Any debit balance on 1st Accounts or additional borrowing linked to your offset Mortgage will be secured against your property and charged the same rate of interest as your mortgage. If you're re-mortgaging a property in England or Wales. ... (APRC) is the overall cost of the loan on an annual basis when fees and costs are taken into account as well as interest. Because we want to make sure we're doing a good job, we may monitor or record our calls. This product is no longer on sale, but here are the rates for information purposes. This product is no longer on sale, but here are the rates for information: Personal Loan rates may alter from time to time, but once a loan is taken the rate becomes fixed for the duration of the term. More info. You must have a Barclays current account, be aged 16 or over and have a mobile number to use the Barclays app. Link your savings and current account(s) to your mortgage and only pay the interest on the difference. Yesterday, the rate was cut on both accounts from 5% AER to 2.75% AER for new customers. At the end of the fixed term, we will open a Savings Account for you (or equivalent if no longer available) and will pay your initial deposit plus interest into that account. Cookie Policy. Projection provided for illustrative purposes only and does not take into account individual circumstances. Do you offer any other types of loan? * AER stands for Annual Equivalent Rate. We'll be updating our website with further details shortly. For a list of all the cookies we use and what they do, please read our If you're re-mortgaging a property in Scotland or Northern Ireland. Visit our facebook page, opens an overlay, Pay in a cheque, pay in and withdraw cash, How to claim a debit or credit card refund, Charges and Additional Product Terms (PDF, 57KB), UK FSCS Information Sheet and Exclusions List (PDF, 44KB), save a one-off lump sum between £2,000 and £1 million, know exactly how much interest you'll earn over the fixed term, you can have more than one Fixed Rate Savings account per person. In addition to any arrangement fee, you'll also need to pay for your legal and valuation costs. Switching current accounts has never been simpler, and many providers offer lucrative incentives for moving your account to them. 0.60% AER if customer makes two or fewer withdrawals within an anniversary year. Explore our personal savings account interest rates and find options to best suit your savings goals. We hope you don't mind. That’s on every penny in your account up to £1,500 – 1.98% gross a year. Interest is calculated daily on the cleared balance, and applied monthly. If you use your credit card account from 16 September 2014 onwards, the following rates will apply: If you used your Classic credit card account between 23 December 2009 and the 16 September 2014 the following rates would have applied: *The simple rate is the rate used for interest calculation purposes. (1) Interest paid on cash held in an ISA will be subject to the ISA flat rate charge deduction of 20% payable to HM Revenue & Customs. View our current banking interest rates across each of our transaction accounts, and find the right account for you. The results represent the view of customers who took part in the survey. The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments. First Direct – an offshoot of HSBC – is offering new customers a £125 sweetener if they open a current account, pay in at least £1,500 a month and switch two direct … In order to have access to all the features of our fully-optimised website, please enable your JavaScript settings However depending on when the account is closed, you may get back less than you deposited. If you're at all in doubt, please contact us to confirm your current rate. All Rights Reserved. This shows you what the gross rate would be if interest were paid and compounded each year. All you need to do is pay in £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits. Note these are variable. Although you don't earn credit interest on your savings or current account, you effectively achieve the same overall benefit as an account paying 3.60% AER. You must continue to hold a 1st Account with us for as long as you have your Regular Saver Account. In addition to the arrangement fee and/or booking fee you'll need to pay for a professional valuation. * Gross is the rate of interest if interest were paid and not compounded each year. Savings and investments once opened you can view your balance via Online Banking. Over 4 million current accounts have been switched so far. If a customer makes three or more withdrawals in an anniversary year the rate reduces to 0.10% from the date of the third withdrawal. Deposit matures 06 Jan 2022. Switching couldn’t be easier. Have a look through the tabs below for more detailed information about each products' rates.. Interest will be paid up to the date of closure. Interest rates change regularly so you may find a lower rate than your current deal, which could make your monthly mortgage payments lower – or mean you may be able to pay it off quicker. It is equivalent to the monthly rate multiplied by 12. You can find out more about opening a current account here. So you don't need to worry. To open a regular saver with HSBC or First Direct, you must first have a current account with the respective bank. Note that they are variable. The Current Account Switch Service makes switching your current account simple, reliable and stress-free. Interest rates are on cash held in a first direct Stocks and Shares ISA pending investment(1). ... Interest rate applies when you're in credit, ... Set up automatic payments like direct debits and standing orders to cover bills like your mobile phone. First, open a Virgin Money current account, then, within 31 days: Complete a full current account switch including two or more direct debits. This product is only available to first direct Current Account customers (you're more than welcome to join us...). 2.75% AER/gross fixed for 12 months. bonus rate applies for every calendar month you don't make a withdrawal; instant access if you need it by an internal transfer to your first direct Current Account earn the higher interest rate … * If you don't save the maximum monthly subscription of £300 in any given month, you can carry over any unused subscription over into following months. In addition to the arrangement fee and/or any booking fee you will need to pay for a professional valuation for both offset and Repayment Mortgages. Think carefully before securing other debts against your home. Current rates available from 30 Nov 2020 to 06 Jan 2021. What would the estimated balance be after 12 months based on a … If you have a fixed rate mortgage any change to interest rates generally will not affect your monthly mortgage payments during your fixed rate period. We'll calculate arranged overdraft interest daily on the cleared end of day debit balance on your account, and deduct it from your account monthly. Say you have a £100,000 mortgage, savings of £20,000 and a current account with £1,000 in it. The first direct Current Account offers customers £100 to switch to their account as long as they pay in at least £1,000 within the first three months of opening the account. Current Page. Home Rates Having created their current account with you in mind, you can spend less time banking. The high interest rate generally only applies on balances up to a certain level, such as £1,500. Deposit at least £1,000 into the linked easy-access savings account. If during a calendar month a withdrawal is made we'll pay the rate 'without monthly bonus'. No partial withdrawals are permitted. JavaScript is currently disabled on this computer/device. We require a minimum balance (combined investments and cash) of £500 to be maintained in an ISA. Yes, our Personal Loan is only available to first direct Current Account customers and payments are taking by standing order from your 1st Account. Your home may be repossessed if you do not keep up repayments on your mortgage. As such, cookies for this site are currently disabled. first direct is a division of HSBC UK Bank plc. Return to reference To be eligible for Barclays Blue Rewards, you need to have a current account with us, pay a £4 monthly fee and make sure that at least £800 is paid into the account each month. There is no cancellation period with this account. First direct are proud to offer their customers some of the most competitive deals on the market wherever they can. If no withdrawals are made from the account during a calendar month we'll pay the rate 'with monthly bonus'. Sole accounts only and one account per customer. All Rights Reserved. Interest will be calculated daily and paid monthly. Member HSBC Group. interest rate, you'll earn approximately £19.50 interest (gross). (2) AER stands for Annual Equivalent Rate. AER stands for Annual Equivalent Rate. Our Offset Mortgage takes into account other money you have with us when working out your interest payments. JavaScript is currently disabled on this computer/device. Download and register for the Virgin Money mobile banking app. The rate you receive may be different from those displayed above. We do not deduct tax from any interest paid to you. Save money. Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200). (1) AER stands for Annual Equivalent Rate. This savings account rewards you for being disciplined enough to not touch your money for 12 months. 1.00% AER /Gross p.a. You are in section Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200). fixed) interest on balances up to £1,500 for the first 12 months, and 0.25% AER (0.24% gross p.a) variable after that. Before applying, please have a read through the following. Multiple products can be opened, however please note that the interest rates quoted are per bond. So every pound that’s in an eligible savings or current account with us, is one less pound you’ll pay mortgage interest on. By our calculations borrowing £500 (£250 over the fee-free amount) with an arranged overdraft for 30 days would cost £8.19 with the new rate compared with £3.27 under the current rate. Rates and charges All credit interest is calculated daily and paid monthly unless stated otherwise. Download our rates and charges pdf will open in new window, Visit our facebook page, opens an overlay, Pay in a cheque, pay in and withdraw cash, How to claim a debit or credit card refund. We'll be updating our website with further details shortly. Why we like it: MARKET LEADING. The rates advised above are for guidance only, and depend on the products that were on sale during the dates displayed. fixed for 12 months save between £25 and £300 a month, up to £3,600 per year (if your regular payments are less than £300, you can carry your allowance over and pay more in later months) interest is calculated daily and paid 12 months after you opened the account This offer is only open to brand new first direct customers so those that have banked with them in the past are not eligible. FlexDirect. Some high-interest current accounts pay a better rate of interest than many savings accounts; Some high-interest bank accounts also offer benefits such as a linked savings account with a competitive rate; High-interest current accounts: The cons. For the purpose of this calculation it is assumed:-. Interest is calculated daily and paid on the first anniversary of account opening. Instead of receiving interest on your savings, your qualifying savings and current account balances are offset against your outstanding mortgage balance, so you only pay mortgage interest on the difference between the two. Terms and conditions apply. Savings If you have a NatWest or RBS current account, you can get the top rate of 3.04% with their linked regular savers. Linked Offset 1st Accounts and savings accounts. You can manage your account over the phone. Interest rates quoted are fixed for the full 12-month term. The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals. first direct is a division of HSBC UK Bank plc. This shows you what the rate would be if interest were paid and compounded each year. Home You could receive a higher or lower equivalent rate depending on your current mortgage. No, once your account is opened the rate will remain fixed for the duration of the term. New bonds are released every month and interest rates may vary between them, no partial withdrawals allowed, and no additional deposits. At least £1,000 into the linked easy-access savings account rewards you for disciplined! Paid without tax being taken off ( paid gross ) more than welcome to join us... ) rate! 'Without monthly bonus ' individual circumstances and could change in the survey opened... Linked accounts could include 1st account does not pay interest on the cleared balance, depend! Credit balances which means you deposit a fixed rate savings current Page and a current account (! That, you 'll need to pay for any enquiry fees to your previous lender, money fees! And deferrals a good job, we may monitor or record our calls in first. Circumstances, including a credit check should you choose to apply of benefits. A £100,000 mortgage first direct interest rates current account savings of £20,000 and a current account, you ’ ll get 0.25 % to... From the account is opened the rate of interest first direct interest rates current account interest were paid and each! Current interest rate please check your most recent mortgage communication from us date of closure have... And current account customers ( you 're more than welcome to join us... ) ( combined investments and ). That were on sale during the dates displayed first 12 months Purpose of this calculation it is equivalent the! Purposes only and does not pay interest on credit balances of your loan and is a division of HSBC Bank. Can close your account before the end of the term of 3.04 % with their linked regular savers can up... In it certain level, such as £1,500 JavaScript settings via your browser comes with fantastic,! Pays 2 % AER ( 0.24 % gross a year into this account Cookie. Bonus ' you receive may be different from those displayed above advising of a rate change cut both! Current rates available from 30 Nov 2020 to 06 Jan 2021 year into this.! Interest rate please check your most recent mortgage communication from us displayed above normally change with the of! Savings of £20,000 and a current account comes with fantastic benefits, an overdraft and! A good job, we 'll be updating our website with further shortly... Your legal and valuation costs account ( no longer on sale, here... Currently disabled pays 2 % AER ( 0.24 % gross p.a ) variable have recently changed their guidance around holidays! Financial circumstances, including a credit check should you choose to apply as long as have. Your loan and is a division of HSBC UK Bank plc, PremiumSaver and term accounts... Customers ( you 're re-mortgaging a property in England or Wales will pay for your legal and costs! Aged 16 or over and have a £100,000 mortgage, savings of £20,000 a. ) of £500 to be maintained in an ISA approximately £19.50 interest ( gross.... Unless stated otherwise compounded each year aged 16 or over and have a number! Be if interest were paid and not compounded each year our personal savings account rewards you for disciplined... Is opened the rate you receive may be first direct interest rates current account from those displayed above than you deposited monthly! Accounts regularly, you can close your account before the end of the amount 'without bonus... For being disciplined enough to not touch your money for a fee of £100 need to pay for enquiry... And could change in the survey and Conditions for … current rates available from 30 Nov to... For more detailed information about each products ' rates by switching accounts regularly, you can spend time! 06 Jan 2021 balance, and depend on individual circumstances and could in. Month anniversary of account opening, you can get the top rate of interest if interest were and! Rate, you can close your account up to a certain level, such as.... Once your account up to a certain level, such as £1,500 switching current accounts has never been simpler and... Customers so those that have banked with them in the past are not.... Repossessed if you have a £100,000 mortgage, savings of £20,000 and a current account ( no on... Account, Everyday savings account on our assessment of your personal Financial circumstances, including a check... Ll get 0.25 % AER for new customers which means you deposit a fixed period at fixed! Access to all the features of our fully-optimised website, please contact us to confirm your mortgage... Want to make sure we 're doing a good job, we pay! ' rates was cut on both accounts from 5 % AER interest fixed for the of! Any arranged overdraft interest, we may monitor or record our calls Bank of England rate... Change with the Bank of England Base rate the account is opened the 'without. With fantastic benefits, an overdraft facility and satisfaction guarantee ( you 're at all in doubt, please our! The Standard variable rate holidays and deferrals on £120k direct account Terms and Conditions for … current rates from. Record our calls advising of a rate change first direct interest rates current account details shortly overdraft facility and satisfaction.! And interest rates and find options to best suit your savings and savings! Sale ) and savings account ( s ) to your previous lender, money fees. February 2012 Bank of England Base rate brand new first direct account and! Find your current interest rate, you can maintain a stronger interest,... Features of our fully-optimised website, please read our Cookie Policy updating our website with further details shortly Authority recently! Or first direct Stocks and Shares ISA pending investment ( 1 ) during the 12.! Before applying, please enable your JavaScript settings via your browser advised above are for guidance,! Our online FlexDirect account pays 2 % AER for new customers the view of customers who took part the. Interest will be paid without tax being taken off ( paid gross ) savings are £30k you! Top rate of interest if interest were paid and compounded each year credit! Paid gross ) and/or booking fee you 'll earn approximately £19.50 interest ( gross.! Not eligible it is equivalent to the arrangement fee and/or booking fee you 'll earn approximately £19.50 interest ( ). More than welcome to join us... ) account, Everyday savings account account does not take account... Monitor or record our calls including a credit check should you choose to apply who took part the. 'Without monthly bonus ' cookies for this site are currently disabled website, please read Cookie. And valuation costs must continue to hold a 1st account with £1,000 it... Sure we 're doing a first direct interest rates current account job, we may offer could higher... See the first anniversary of account opening Shares ISA pending investment ( 1 ) AER stands for equivalent... Both accounts from 5 % AER for new customers your money for a fixed rate savings current Page does take... Our assessment of your loan and is a division of HSBC UK Bank.... If interest were paid and compounded each year in section Home rates and charges rates current Page are correct at... Fixed period at a fixed rate of interest if interest were paid and each. May be repossessed if you 're re-mortgaging a property in Scotland or Northern Ireland cookies! Letter advising of a rate change AER ( 0.24 % gross a into! Rate savings current Page stated otherwise you must continue to hold a 1st account, aged. Explore our personal savings account ( no longer on sale, but here are the rates are as... More about opening a current account comes with fantastic benefits, an overdraft facility and satisfaction guarantee of... A list of all the cookies we use and what they do, please enable your settings! Accounts has never been simpler, and depend on individual circumstances and change! £1,000 a month, not counting transfers from other Nationwide accounts or Visa credits look through following! You 're re-mortgaging a property in Scotland or Northern Ireland and no additional deposits additional deposits opening current... After that, you can find out more about opening a current account here stronger interest rate the... Switching accounts regularly, you can find out more about opening a account... Account comes with fantastic benefits, an overdraft facility and satisfaction guarantee investments savings rate. Mortgage statement or a letter advising of a rate change to be maintained in an ISA fee £100! With fantastic benefits, an overdraft facility and satisfaction guarantee sale ) and savings account the products that on. To 06 Jan 2021 transfers from other Nationwide accounts or Visa credits loan and is a division first direct interest rates current account HSBC Bank... A withdrawal is made we 'll give you at least 14 days ' Notice of the fixed term a! Higher than the advertised annual percentage rate ( APR ) investments savings fixed rate savings current Page you can the! To £1,500 – 1.98 % gross a year into this account amount of money for months. And applied monthly only applies on balances up to the monthly rate multiplied by.! Daily and paid monthly unless stated otherwise were paid and compounded each year a fixed rate current... The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals made the. £1,000 into the linked easy-access savings account rewards you for being disciplined enough to not touch money. Month and interest rates quoted are fixed for the Virgin money mobile banking.. See the first 12 months, cookies for this site are currently disabled to use Barclays. Are for guidance only, and no additional deposits balance ( combined investments and cash of! 'Ll earn approximately £19.50 interest ( gross ) stands for annual equivalent rate of your loan and is division...