Zopa blog
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Current account vs savings account: how to find the right fit for your finances
When it comes to opening a bank account, you’ll normally be choosing between two options: a current account or a savings account. But what’s the difference? And how do you know what’s the best option for your finances?
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Do current accounts pay interest? Everything you need to know.
Most standard current accounts pay zero interest. But some – particularly from digital banks and challenger providers – do pay a return on your everyday balance, offering rates between 2-5%. Whether it’s worth switching depends on how much you usually keep in your account, whether any fees eat into your returns, and what else the account offers beyond the rate itself.
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