If you’d like 5 pct interest on your current account then the FlexDirect current account from Nationwide could be for you.
The FlexDirect account offers 5pct AER (4.89pct Gross) on in-credit balances up to £2,500 for 12 months and after that the rate changes to 1 pct gross p.a./AER variable. Before you decide to drop £2,500 into the FlexDirect account you should take a look at the conditions attached to it. To get the 5pct interest from Nationwide you must pay in at least £1,000 per month and that does not include transfers from other Nationwide accounts. For the £125 interest you could get, its probably worth while setting up some direct debits to pay the money in and out of your account.
There are other terms and conditions for the FlexDirect 5pct account and you should read them before applying. Once the initial 12 month fixed interest period is over its worth while checking out what other accounts are on offer. Other accounts are availble and this review should not be considered as financial advice.