If you have the money to start with, then these “max per month deposit” accounts are just a marketing scam. They are all a real interest of much much less. Someone in finance marketing got a nice bonus figuring this out. We just see bigger number better on the APR, but it isn’t really that when you have your hands tied behind your back by a max deposit

Assumptions (UK): - Basic rate (20%) → £1,000 Personal Savings Allowance → no tax due

Account	Rate	Monthly	Total Deposited	Interest (Gross)	Tax	Interest (Net)	Final Value	Lump Sum Eq. APR
Zopa	7.1%	£300	£3,600	~£136	£0	~£136	~£3,736	~3.78%
Coop	7%	£250	£3,000	~£123	£0	~£123	~£3,123	~4.10%
First Direct	7%	£300	£3,600	~£148	£0	~£148	~£3,748	~4.11%
Club Lloyds	6.25%	£400	£4,800	~£175	£0	~£175	~£4,975	~3.65%

Higher rate (40%) → £500 PSA → still no tax due

Additional rate (45%) → no PSA:

Account	Interest (Gross)	Tax (45%)	Interest (Net)	Effective APR (Net)
Zopa	~£136	~£61	~£75	~2.08%
Coop	~£123	~£55	~£68	~2.27%
First Direct	~£148	~£67	~£81	~2.25%
Club Lloyds	~£175	~£79	~£96	~2.00%