Skint Dad

Where Every Penny Counts

  • Home
  • Save money
    • Latest supermarket offers
    • 1p Saving Challenge
  • Make money
    • Best Paid Surveys
    • Quidco New Member Offers
    • Genuine Work From Home Jobs
  • Manage money
  • Cheap recipes
    • Fakeaway Recipes
  • Win
    • Skint Dad competitions
  • Deals
    • Amazon Discount Tool
  • Join us
    • Newsletter
  • About
Home / Manage Money / TSB Classic Plus Account – Offers 5% Interest

TSB Classic Plus Account – Offers 5% Interest

By Ricky Willis | last updated 12th April 2019

Subscribe to our weekly newsletter and get a £16 Quidco sign-up bonus
Share
Tweet
Pin

TSB Classic Plus Account is a bank account offering 5% AER on balances up to £2,000 and that’s for the foreseeable future, not just an introductory rate.

This site contains affiliate links. We may receive a commission for purchases made through these links. [Learn more]

TSB Classic Plus Account - Offers 5% Interest

When it comes to money saving I’m think I’m pretty clued up. If you want information on how to spend less on your supermarket shop or how to cut household bills then I’m your man. Kids using too much toilet roll? I can help with that as well. I can even give you 5 thrifty ways to use an onion besides from eating it.

This is all well and good but what about the serious stuff such as investing, ISAs and bank accounts. When it comes to this stuff although I’m not completely clueless but I’m no expert either.

Thinking back I remember my parents opening a bank account for me when I was eleven. It was a simple passbook account and I would put any money I received for Christmas, birthdays and pocket money in there.

As I grew a little bit older I then opened up an account that came with a cash card. This gave me the freedom to look after my own money and it soon came apparent that I’d rather spend it than save it.

I left school at 17 and entered employment. My first job was working as a print finisher and I earned a whopping £4.00 per hour. Still, there was plenty of overtime and I had more money than before.

Realising that the bank account I’d opened up in my early teens probably wasn’t sufficient, after a trip to the bank I opened up a fully-fledged current account.

That was in 1996 and I kept that same bank account for 13 years!!

Up until a few years ago I always believed that loyalty counts for a lot and I suppose it does when you are talking about friends and family but what about everything else?

Just because I shopped at Tesco’s or Morrison’s for a number of years, does that mean I shouldn’t go anywhere else. Of course, it doesn’t, especially if you can get better value.

The same goes with banks.

I’ve had the same bank now for about five years but switching accounts has not been at the top of my agenda. Switching energy companies and insurances are like second nature as I can see myself saving the money instantly but (and I’m not sure why) changing bank accounts feels different.

It is probably about time I consider switching accounts as I can probably get a better deal.

I looked at the TSB Classic Plus Account and saw they had a decent deal. As an immediate reaction I compared what I currently had to see if their deal was any good, or if I should just stick with what I already have. On checking my bank account it a very small interest rate, so much so that they don’t even say how much on their online guide! In fact, the TSB Classic Plus Account makes my current account look pathetic in comparison.

TSB are offering 5% AER (not sure about financial jargon then check this guide) on balances up to £2,000 and that’s for the foreseeable future, not just an introductory rate.

All you have to do is pay in £500 per month (most banks ask for £1,000 as a minimum or more!) and you have to opt in to both paper statements and paperless statement, which isn’t hard.

I love online banking and probably check my account daily (I move the odd pennies in my account over to a savings account as a sly way to put money aside) but having paper statements is useful too. For instance, Naomi works for an organisation where she needs a DBS check so needs to have paper documents to verify her ID.

You can use the Current Account Switch Service to move to the account in just seven working days and they’ll pretty much do it all for you.

How long have you had your current account for? Would you consider switching? 

Written in collaboration with TSB

  • About
  • Latest Posts
Ricky Willis
A little bit of everything at Skint Dad
Ricky Willis is the original Skint Dad. A money-making enthusiast, father, and husband to Naomi. He is always looking for unique ways to earn a little extra.
Latest posts by Ricky Willis (see all)
  • Christmas Saving Clubs – Prepare for Christmas Early - 3rd February 2021
  • A massive change for the Skint Dad family - 22nd January 2021
  • CheckoutSmart – earn up to 100% back when you shop - 12th January 2021

Leave a Reply Cancel reply

Your email address will not be published.

final sd bio
Skint Dad in the media
HIBS100 Index of Home and Interior Blogs
HIBS100

Find out how to

Save money

Make money

Manage money

Start a blog

Eat cheap

Win competitions

Join us

Information

About Skint Dad

Contact us

Awards, Media and Press

Jobs at Skint Dad

Privacy Policy

Cookie Policy

Terms & Conditions

SKINT DAD®

8b Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

Skint Media Limited
is a registered company
in England & Wales.

Company reg no: 09991508
VAT No: 318 7349 80

Check out our sister site Skint Chef

Copyright © 2021 · Skint Media Limited · All rights reserved · Registered in England and Wales with company number 09991508 · Sitemap · Privacy Policy · Cookie Policy · Terms and Conditions

Skint Dad | Where Every Penny Counts! Logo Header Menu
  • Home
  • Save money
    • Latest supermarket offers
    • 1p Saving Challenge
  • Make money
    • Best Paid Surveys
    • Quidco New Member Offers
    • Genuine Work From Home Jobs
  • Manage money
  • Cheap recipes
    • Fakeaway Recipes
  • Win
    • Skint Dad competitions
  • Deals
    • Amazon Discount Tool
  • Join us
    • Newsletter
  • About