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Friday, October 10, 2025
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Kroo: Only UK current account to offer more than 3% AER interest on balances up to £85k

The award-winning digital bank, Kroo, will be increasing its current account interest rate from 1 February 2023, offering customers 3.03% AER, the highest retail bank offering of current accounts in the UK for balances up to £85K***.

Kroo announces the rate rise as analysis of Bank of England data shows banks profiting up to £9.4bn in interest rates that are not passed on to customers*.

As 71% of UK adults are suffering from financial anxiety**, Kroo is demonstrating who you bank with matters now more than ever. The increase puts money back into customers’ pockets, placing Kroo ahead of all other UK retail banks that offer interest on their current accounts (on deposits above £1,500) and in line with many savings accounts.

In addition to the top-tier interest rate, Kroo’s current account allows customers to share, track and split bills all in one place. It also offers zero fees on spending with the Kroo debit card abroad and an overdraft at an APR one-third less than most high street banks.

“We want to change the way banking is done and move away from the profit extraction model of old. Interest of 3.03% allows customers to grow their balance like a savings account without the hassle of moving money from an e-saver account. Our current account lets you do your banking in one place with no catches and gimmicks.” says Andrea De Gottardo, CEO of Kroo.

Kroo was granted a full UK banking licence earlier this year, only the third bank to receive one since 2016. This enables Kroo to provide the security of a high-street bank combined with the flexibility and intuitive customer service of a FinTech, helping break down barriers to switching.

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