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    Do I get compound interest on the following accounts?

    Bank of Scotland Vantage
    TSB current account
    Nationwide FlexDirect

    Do I earn interest on the interest on these accounts or should I move interest to my main account (Santander)?

    TIA.

    4 Comments

    They only offer interest up to a certain balance. Any £ above this earns no interest, whether it was transferred in or interest earned in the account. I have a 'full' Nationwide Flexdirect, I put £2,500 in and every month I transfer the earned interest out.

    Original Poster

    Muir

    They only offer interest up to a certain balance. Any £ above this earns … They only offer interest up to a certain balance. Any £ above this earns no interest, whether it was transferred in or interest earned in the account. I have a 'full' Nationwide Flexdirect, I put £2,500 in and every month I transfer the earned interest out.



    Thank you.

    Vantage account only pays interest up to a balance of £5k @ 2% Santander pays 1.5% up to £20k alsohas a monthly fee. So all depends on how much cash u have to stash.

    Original Poster

    melmacl

    Vantage account only pays interest up to a balance of £5k @ 2% Santander … Vantage account only pays interest up to a balance of £5k @ 2% Santander pays 1.5% up to £20k alsohas a monthly fee. So all depends on how much cash u have to stash.



    Thanks.
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