Overview
- The FlexDirect current account pays 5% AER (4.89% gross) fixed for 12 months on balances up to £1,500, worth up to £75 over a year if the cap is maintained.
- There is no required monthly pay-in beyond meeting the account’s balance conditions to receive the promotional interest.
- Interest is based on the daily closing balance, calculated on the final day of each month, and paid on the first day of the following month, with no promotional interest on amounts above £1,500.
- After the 12-month introductory period, the rate reverts to a variable 1% AER (0.99% gross).
- A separate £175 switching bonus is available via the Current Account Switch Service subject to conditions, and combining this with the maximum interest could deliver £250 in total.