MoneyExpert.com: Lloyds TSB Vantage account

Sean Gardner, founder of MoneyExpert.com, said: "The new Vantage account from Lloyds TSB is an innovative addition to the current account market.

"It's true that many current accounts don't pay great returns on larger balances. So while this account won't be for everyone, for those who prefer to keep substantial sums in their current account it might be worth considering, particularly as it can be fee-free.

"To qualify for the really high interest rates in the current account market you typically have to stick to a relatively low maximum balance. Or you need to save for a fixed one year term.

"But with the Vantage account the higher rate of interest kicks in when you reach £5000 and isn't limited to a specific time period.

"However rates aren't exactly exceptional if you have under £5,000 sitting in your account. Any one of the 179 instant access accounts that pay over five per cent must be worth considering if you're in the market for a high-interest account with easy access to cash.

"But there are people who prefer to have a healthy current account balance. And for those people the Vantage account meets their needs."