Savings Account with 3% Interest – Igloo Energy?!

We wrote about utility providers recently, which summarises the companies that allow you to pay bills with Amex, so that you can accrue more points on your daily spend.

However, I just learned something new lately. Igloo Energy has this statement on their support article:

We think your money should be working as hard as you do which is why every month when we bill you, we add a 3% Interest Reward based on any credit balance you have.

The credit balance of your account, up to £1000, will earn a 3% interest p.a. reward on a daily basis. Then, every month, any reward you’ve earned is added to your balance when we generate your statement.

If you account is in credit, you can earn 3% interest on the credit balance up to £1,000. This is better than any current account or savings account you find at a UK bank, I believe.

It means that you can overpay your bill using Amex and then earn an interest on top, which sounds great. Of course when it comes to choosing an energy provider, fares is the first thing you should look at, however if Igloo Energy happens to be the cheapest then the interest is a nice add-on.

If not – feel free to use my referral link to join Octopus Energy for a £50 reward 😉

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