Nationwide Building Society is offering a generous interest rate as well as a cash bonus for people who switch to their FlexDirect account. The current account can be opened and managed online.
The account offers a two percent AER, and this rate is fixed for 12 months.
Savers will receive 1.98 percent gross interest for the year, and it is paid on balances up to £1,500.
This means any amount saved into the account above £1,500 will not receive any interest.
Account holders will need to pay in a minimum of £1,000 per month.
After the initial 12 months of the account being opened, an interest rate of 39.9 percent (AER Representative, variable) will apply.
The account can easily be managed online via Nationwide Building Society’s banking app or through internet banking.
These services can be accessed via phone, computer, tablet or smart watch.
Savers could also pick up an extra £125 for switching.