New current account launching soon, and you can have two of them, so 5% on £4000. Not to be sniffed at.
No direct debits or switch required, £500 a month pay-in.
Key features:
- 5% AER variable interest on balances up to £2,000**.
- No introductory offer period.
- Available to existing and new customers.
- Minimum monthly deposit of £500.
- No monthly fee.
- Register for internet banking, paperless statements and correspondence.
- Transact in branch, online or over the telephone.
- Maximum two accounts per person.
- Switching service available.
Challenging the competition....
- Some other banks and building societies may try and tempt customers with a ‘teaser rate’ only to take that rate away after 12 months. TSB doesn’t. It simply gives customers 5% interest.
- Most other banks demand a minimum monthly credit of £750 or even £1,000. The Plus account requires a minimum deposit of just £500.
- Some banks insist customers do all their banking online. TSB Plus account holders can manage their money however suits them best, be that in branch, online or over the telephone.
- Other banks require customers to shift their direct debits and standing orders over in order to open new accounts and qualify for the best deals. TSB wants customers to experience what it’s like to be part of this new kind of bank so is happy to let them ‘try before they buy’. TSB will then help people move as and when they are ready.
- Most banks limit their best deals to new customers only. The TSB Plus account is open to existing customers as well as new ones.
The only downside is 5% credit interest which means you have to leave the 2k in bank account with all your dd etc.
misterboumsong to Henlans
12 Mar 14#16
not really a downside if you have 2 grand which i have :stuck_out_tongue:
knack to Henlans
12 Mar 14#29
I don't understand why you consider 5% credit interest to be a downside? The main selling point of this account is the 5% interest. Think of it as a savings account rather than current account.
happymanuk
12 Mar 14#2
.. Or just don't set up any dd's on this account :wink:
BustaLinx
12 Mar 144#3
That's the best bit.
DonkeyKonk
12 Mar 1410#4
Have almost forgotten what interest is
Henlans
12 Mar 14#5
yeah i guess you are allowed 2 accounts.. do you need to have £500 in each account. i guess i can move it from one to the other lol
enekomh to Henlans
13 Mar 142#47
That's what I'm going to do. Put 2000 when I open each of them, set up an automatic payment that goes from my Barclays account to the first TSB account, then the following day they will be moved to the second TSB account, then the following day to the Santader 123 I also have and leave it there until I reach the maximum 20,000. Afterwards, I'll see what I can do to make more out of my money.
sherbolton
12 Mar 14#6
Only £7 a month interest max per account per month.
nabz234 to sherbolton
12 Mar 141#8
where does it say that? I can't see it.
Moneyspider
12 Mar 14#7
Does anyone know the rationale for needing to open 2 bank accounts to gain the 5% on £4K. Then mess about moving monthly deposits into an out of accounts. Same with other banks. Why can't we just have one bank account with increasing interest depending how much you save i.e. not capped.
I've had to open 4 accounts with different banks to maximise my savings and play this stupid game of DD shuttlec0ck
Mucus69
12 Mar 14#9
Thanks OP. Great timing as the introductory 5% interest in my Nationwide account ends in a few weeks.
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Opening post
No direct debits or switch required, £500 a month pay-in.
Key features:
- 5% AER variable interest on balances up to £2,000**.
- No introductory offer period.
- Available to existing and new customers.
- Minimum monthly deposit of £500.
- No monthly fee.
- Register for internet banking, paperless statements and correspondence.
- Transact in branch, online or over the telephone.
- Maximum two accounts per person.
- Switching service available.
Challenging the competition....
- Some other banks and building societies may try and tempt customers with a ‘teaser rate’ only to take that rate away after 12 months. TSB doesn’t. It simply gives customers 5% interest.
- Most other banks demand a minimum monthly credit of £750 or even £1,000. The Plus account requires a minimum deposit of just £500.
- Some banks insist customers do all their banking online. TSB Plus account holders can manage their money however suits them best, be that in branch, online or over the telephone.
- Other banks require customers to shift their direct debits and standing orders over in order to open new accounts and qualify for the best deals. TSB wants customers to experience what it’s like to be part of this new kind of bank so is happy to let them ‘try before they buy’. TSB will then help people move as and when they are ready.
- Most banks limit their best deals to new customers only. The TSB Plus account is open to existing customers as well as new ones.
https://apply.tsb.co.uk/personal/a/apply_current_account/classicplusaccountVER is the link to apply
- rickyc88
Top comments
All comments (159)
The only downside is 5% credit interest which means you have to leave the 2k in bank account with all your dd etc.
I've had to open 4 accounts with different banks to maximise my savings and play this stupid game of DD shuttlec0ck