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Product focus: Instant access accounts

Product focus: Instant access accounts

Category: Savings

Updated: 17/12/2012
First Published: 16/02/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Savers looking for short-term access to money will be best suited to an instant access savings account.

These accounts often include introductory bonuses which make up a large portion of the overall rate and run for a limited period, usually twelve months. Once the bonus period expires, the rate will reduce so savers must make a note as when this will be to avoid losing any return on the funds.

Here is a selection of some of the best instant access accounts with introductory bonuses.

Nationwide Building Society - MySave Online Plus Issue 4

  • This online account pays a monthly rate of 3.08% including a bonus of 1.58% for twelve months.
  • Savers can invest between £1,000 and £3 million.
  • Funds can be accessed without advance notice or penalty, although if more than one withdrawal is made within a twelve month rolling period, the rate will revert 0.10% during which the withdrawal was made.
  • The account can be operated online only by savers aged 16 and over.

Santander - eSaver Issue 4

  • The eSaver account pays a rate of 3.10% on its anniversary including a bonus of 2.60% variable bonus of 2.60% for twelve months.
  • A monthly interest option is available at 3.06% including a bonus of 2.56% for twelve months.
  • Investments range between £1 and £2 million.
  • Funds can be accessed without advance notice or penalty.
  • The account is available to savers aged 16 and over and can be operated online and by telephone.

Skipton Building Society - Online Bonus Saver

  • This account pays 3.05% on its anniversary including a bonus of 1.55% for twelve months.
  • Savers can invest between £1,000 and £1 million.
  • No advance notice is required to access funds, although all withdrawals must be made via the internet to a nominated external account or internal transfer to a Skipton Building Society account.
Find the best savings accounts for you - compare savings accounts with bonuses

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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