Nationwide has revamped its FlexDirect current account to include an interest-free overdraft for a year and 5% in-credit interest on balances up to £2,500 for the same period.

This makes it one of the top current accounts on the market, but it can be beaten — see our Best Bank Accounts guide for a rundown of the top deals.

Martin Lewis
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The features will also apply to existing FlexDirect customers, who will be moved onto the new terms, with their 12 months beginning today.

FlexDirect current account features

  • Credit interest. It pays 5% on balances up to £2,500. You'll get nothing above that. After a year, this drops to 1%.
  • Interest-free overdraft. There are no fees for 12 months. Afterwards, it has an arranged overdraft fee of 50p per day.
  • Funding requirement. To get the credit interest, customers must pay in a minimum £1,000 each month to qualify. There's no minimum pay-in for the free overdraft.

Is it worth getting?

Helen Saxon, money analyst at, says: "Whether you're always overdrawn or always in credit, the new FlexDirect account is a cracker.

"The 12-month 0% overdraft gives you time to sort out your finances. Any account paying 5% on savings is unheard of in this day and age. Sadly, it only pays it up to a balance of £2,500 – but that's still up to £100 a year after basic rate tax."