A NEW current account offering a 6% gross interest rate with no minimum pay-in amount comes into operation on Monday.

Halifax Ultimate Reward Current Account will offer a rate of 6% gross - equating to 6.17% AER - and the benefits available on the product add up to a collective total of more than £800.

The perks include RAC breakdown cover, family worldwide multi-trip travel insurance and a free overdraft.

Customers will receive a bonus payment of £100 for switching before March 23.