Lots of good interest rates on current accounts

Tue, 18 Mar 2008

There are "lots of good offers" on interest rates available for those looking for current accounts, one expert has claimed.

David Kuo, head of personal finance at fool.co.uk, explained that when looking for a savings account people need to consider their own personal circumstances as there is "no one size fits all" approach.

He said: "Thanks to the plethora of choices, consumers can find one account that most suits their lifestyle."

Mr Kuo pointed out that the Alliance and Leicester Premier Direct Current Account pays interest rates of 8.5 per cent, but this only applies to the first £2,500 in the account.

He added that students should seek an account that offers them the highest level of flexibility in terms of overdrafts, but that they should bear in mind that fees and interest can mount up if the exceed their agreed limits.

Students will also find that the interest rates on any overdrafts they have increase after they graduate, Mr Kuo concluded.
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