We name and shame the banks paying just 0.01% on your savings (and reveal where you SHOULD stash your cash)

THOUSANDS of struggling savers are being paid just £1 in interest on a savings balance of £10,000 as banks cash in on savers’ apathy.

original source
https://www.thesun.co.uk/money/3895923/we-name-and-shame-the-banks-paying-just-0-01-and-reveal-where-you-should-save-your-cash/

Savings rates are pitiful across the board but The Sun Online found some providers are plunging to new depths by paying just 0.01 per cent interest to loyal customers

WHERE IS THE BEST PLACE TO SAVE YOUR CASH?
IF you want to get a better rate on your cash then you should consider a fixed rate account or look at a bank that pays higher interest on its current account savings. Easy or “instant” access savings accounts are designed to allow you to withdraw your cash whenever you need it. They can usually be opened with an initial deposit of £1. The top easy access rate is from Ulster Bank which pays 1.25 per cent on its eSavings account. Sticking your cash in a high interest current account would allow you the exact same easy access but also the opportunity to earn an interest rate up to 5 per cent – that’s 500 times higher than the 0.01 per cent rate.Banks use high interest rates to lure customers to their current accounts as customers then tend to buy other products from the same bank. But, there are often a few hoops to jump through to get the high rates:
Nationwide pays 5 per cent on balances up to £2,500 for the first year you hold a FlexDirect current account. But you need to pay in £1,000 a month to get the rate (but you can take it out again).
Tesco Bank pays 3 per cent interest on balances up to £3,000. To get the rate, you need to pay in £750 a month and set up three direct debits from the account.
TSB’s classic plus account also pays 3 per cent but only on balances up to £1,500.99 and you need to pay £500 a month into the account to be eligible. TSB account holders can also earn £5 cashback per month when they make 20 debit card payments, and a £5 bonus if they have two or more direct debit on the account. Doing both for 12 months means earning an extra £120 each year.