It has opened 1.3m accounts. At Starling, we use a risk-based pricing that allows us to offer rates at 15%, 25% or 35%, depending on the customer’s credit score. At present Starling pays 0.05% AER on balances of up to £85,000 on personal current accounts. Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. How is AER calculated? To provide you with the full functionality of our website. Online banking. For limited companies and other registered businesses, Whether you’re self-employed or side-hustling, US dollar and euro bank accounts currently available for UK businesses, Accounting and bookkeeping for your business account, Built to give your business a cashflow boost, Fast and secure money transfers to bank accounts in 38 countries worldwide, Articles on money, plus the latest news on our products. These cookies are set by third parties. AER* Investec Fixed Term Deposits (on deposits between £25,000 and £1,000,000) 1 year Fixed Term Deposit: Closed: Closed We do not offer a separate savings account but we do offer interest on our personal and joint GBP accounts. However, it’s very important that you’re aware of the different representations of interest rates - whether you’re considering taking out a loan, applying for an overdraft or looking for a savings account, you’ll want to be confident you fully understand the rate you’re receiving or paying. Additional accounts. The Starling Bank Current Account has been awarded a Five Star Moneyfacts Star Rating for the past two years. Starling pays 0.05% AER interest on personal current account balances up to £85,000. It pays no interest on business and sole trader current accounts. Currently, the interest rate on a savings account is more than 7 per cent which is provided by most of the banks across the country. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 730166. in regards to a loan), it means that it has to offer that rate to at least 51% of customers who are successful in their loan application. From 18 May 2020 the interest rate on all personal current accounts will be 0.05% AER on credit balances up to £85,000. These cookies are set by third parties. Learn more about our savings account with some of the best savings interest rates available. To provide you with the full functionality of our website. The Best Bank Accounts guide has the highest paying options. Therefore, if you go into unarranged overdraft, your bank might charge you additionally. Here we’ll go through what you need to know about APR, EAR and AER; what they are, how they’re used and what they might mean for you. If you do not want YouTube cookies stored do not click on the YouTube embedded videos. I then went through this same process with my wife to make her separate accounts so we could get the full benefit on over 10 accounts. If you do not want YouTube cookies stored do not click on the YouTube embedded videos. Get 0.05% AER on balances up to £85,000. It is directly connected to major payment schemes, including Faster Payments, SEPA, Bacs and MasterCard. You can get a higher interest rate with Monzo if you open a separate savings account with one of its partners through the marketplace. Opening additional accounts If you want to decide which non-essential cookies are used on the site, click on ‘Manage cookies’ to modify your settings. We embed YouTube videos with the privacy-enhanced mode on which means it will not place any cookies until you click to play the video. 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