TSB has launched a new current account offering a highly competitive rate of interest.
Classic Plus pays 5.00% AER (4.89% gross) on amounts up to £2,000 and there is no fee to hold this account.
The account must be credited with a minimum of £500 a month and interest is only paid on amounts up to £2,000. Authorised overdrafts are charged at 19.94% EAR and come with an additional monthly usage fee of £6 for amounts above £25.
The account can be opened in branch, by telephone and online and can be operated via the same channels, as well as in any Post Office branch and via a smartphone app.
Paying a competitive rate of interest, and with a low minimum funding requirement making it attractive to customers with a lower income, this current account from TSB storms into the Moneyfacts best buys.
Four Moneyfacts Stars have been awarded.
Apply for a Classic Plus account today
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