Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.
An easy or instant access savings account is a type of account where you can get to your cash quickly if you need to make a withdrawal. However, depending on how your account is managed, the length of time it takes from requesting the withdrawal to actually having the money in your hand or bank account can vary.
Particularly where an account is managed by post, there will be a time lag because the length of time it takes for you to post in your withdrawal request, and then for the transaction to be processed. In contrast, accounts that are managed online, over the phone or in branch can give you instant or very quick access to your cash.
Some easy access savings rates benefit from an introductory bonus. While these accounts can offer higher rates, remember that the initial bonus boost is temporary, and in most cases only lasts for 12 months. This means that in order to continue getting the best rate on your savings, you’ll need to review your account again after a year. Easy and instant access accounts are available without introductory bonuses, if you’d rather not make changing accounts an annual job! Many accounts that don’t pay a bonus actually have better rates than those that do, so its worth comparing the two.
Many easy and instant access savings accounts put certain restrictions on withdrawals, limiting you to a certain number of ‘free’ withdrawals in a 12-month period. After you’ve hit that limit, your interest rate may suffer if you need to access your money again.
If you think you’re going to need to make several withdrawals over a yearly period (perhaps to pay university tuition fees for instance), be sure to check the small print of the account before opening it.
Savings home Search all easy access savings accounts Compare instant access savings accounts (without bonus) Savings guides
Please send me emails with the latest Moneyfacts news, best buy products and specially selected third party offers
Following the news that inflation has risen to a 41-month high, it's more important than ever to mak... More
Inflation soared to 2.3% in February, which has had a devastating impact on savings returns - only o... More
It seems that the amount of pocket money children are getting is on the rise, with research showing ... More
Easy-access savings accounts are as simple as they sound – they allow you to access your money whene... More
Having sufficient savings can be key to financial security, and making sure you’ve got a suitable em... More
Islamic savings accounts offer a Sharia’a-compliant way of saving for Muslims living in the UK, as w... More
Find out where your bank or building society is licenced, and what deposit protection guarantees you... More
With some forecasters predicting interest rate cuts by November 2012, we look at the pros and cons o... More
Paragon Bank has entered the Best Buys with improved rates on its 120-day notice account and one-yea... More
OakNorth Bank has amended the rates on selected fixed term deposits by up to 0.20%, which has seen t... More
United Trust Bank may have reduced rates on a selection of fixed bonds by 0.15%, but despite this, b... More
Ikano Bank has increased the rates on selected fixed bonds by up to 0.15%, which has seen its one, t... More
Zenith Bank UK has increased the rates on selected fixed term bonds by up to 0.12%, which sees its t... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.