Please excuse the somewhat clickbaity title. But if you have £45,000 of savings in your business account, move it over to Tide’s Instant Saver account and earn £1,590 of interest, instead of letting it stagnate where it currently is.
To be specific, you can get 3.55% AER (variable) by moving your money into a Tide Instant Saver. You can get access any time you like if you need the funds. You keep all interest you’ve earned (it gets paid monthly).
Don’t have a big chunk of savings? You still get the 3.55% AER on any money you move over and Tide and add to your savings account. I just used my example as it felt like a nice title.
What’s more, you even get £50 when you use my link to open an account.
(That’s where the £1,640 figure comes from.)
What about tax?
You pay tax on interest received. This means that if you add £45,000, you’ll get taxed on the £1,500 you make. The same as your normal earnings.
If you’re unsure or skeptical, consult your accountant first.
Is the Tide app any good?
It’s fine. I only use the app for storing my savings. I haven’t activated my card as I plan to keep my Starling Bank account for all my business dealings.
So I can sit and stare at my savings on my phone not utilising this nice interface they designed.
It is nice when your interest gets paid to get a notification on your phone, though.
There really isn’t much more to it.
It feels a bit weird rounding up here as I always write long form blog posts. But there’s nothing else to add because it’s that simple.
- Open your Tide account using this link.
- Get £50 just for opening an account.
- Move your spare funds to the Tide Saver.
- Earn interest.
You’re welcome! ✌️
