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5 cracking easy access savings accounts

5 cracking easy access savings accounts

Category: Savings
Date: 03/01/2014

Easy-access savings accounts allow you to access your money whenever you need it, without having to give advance notice to your savings provider.

They are the most flexible type of savings account, letting you pay into them at any time.

But you must remember to check an account's terms and conditions in case there are any withdrawal restrictions to ensure it suits your financial and lifestyle needs.

For example, don't opt for a high-paying deal which penalises for numerous withdrawals if you feel you will be regularly accessing your cash.

Here are the current top-paying easy-access accounts that do not include an introductory bonus.

Top 5 easy access savings accounts (without Bonuses):

Coventry BS
Coventry BS
Online Saver (5)

1.60% AER

  • Minimum investment of £1
  • No advance notice needed to withdraw funds
  • 4 free withdrawals a year
  • 50 days' loss of interest penalty if 5 or more withdrawals are made
  • Account must be opened and operated online

Penny saysPenny says…
"Heading up the no-notice market is this deal from Coventry BS offering a top rate of 1.60% on a minimum investment of only £1.

"Savers must remember that, although no notice is needed to access funds, only four penalty-free withdrawals are permitted per year."


Investec E-asy Access Account

1.55% AER

  • Minimum investment of £25K
  • No advance notice needed to withdraw funds
  • Withdrawals and further additions are allowed
  • Interest paid monthly
  • Account must be opened online then operated via phone or internet

Penny saysPenny says…
"Sitting comfortably in second place is the E-asy Access Account from Investec, offering an impressive rate of 1.55%.

"Withdrawals and additional deposits are allowed as long as the account remains open, however the minimum initial investment of £25,000 might make it less appealing to some."



Virgin Easy Access Saver Issue 8

1.51% AER
  • Minimum investment of £1
  • Instant access account – no advance notice needed to withdraw funds
  • Withdrawals and further additions are allowed
  • Account can be opened and operated via branch, post and telephone

Penny saysPenny says…
"Paying a top three rate is this account from Virgin Money, offering 1.5% AER on a minimum initial deposit of just £1.

"This flexible account allows additions and withdrawals with no notice needed to access funds."



ICIC Bank HiSAVE
Remittance Account

1.50% AER
  • Minimum investment of £1
  • No advance notice needed to access funds
  • Withdrawals and further additions are allowed
  • Account must be opened online then operated via phone or internet
  • Interest paid monthly
  • Account not available to existing HomeVantage Current Account holders
  • Preferential rates and charges for transfers to India

Penny saysPenny says…
"In fourth spot is the HiSAVE Remittance Account from ICICI Bank UK, offering 1.50% on a minimum initial investment of £1.

"Savers can access their funds at any time and can make additional deposits, with no maximum investment limit being in place."


State Bank of India Online Instant Access Savings Issue 3

1.50% AER

  • Minimum investment of £500
  • Instant access account
  • Further additions are allowed via cheque or electronic transfer
  • Withdrawals permitted
  • Account must be opened online then operated via branch or internet
  • Interest paid monthly

Penny saysPenny says…
"State Bank of India secures a top five spot with its Online Instant Access account, offering 1.50% AER for those with a minimum of £500 to invest.

"Savers can benefit from added flexibility with both withdrawals and additional deposits permitted, however savers should note that no interest will be paid on balances below £500."

Information & Rates correct as at: 03.01.2014

What Next?

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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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