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. The maximum level of protection will be reducing from £85,000 to £75,000 from 1 January 2016.
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.
The best easy access savings rates usually benefit from an introductory bonus. While these accounts tend to offer higher rates, remember that the initial bonus boost is temporary, and in most cases only lasts 12 months. That 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!
Some 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 this 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)
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
OK, we know it’s a bit soon to be talking about Christmas, but if you want to make sure you can comf... More
Easy-access savings accounts are as simple as they sound – they allow you to access your money whene... More
Squeezed household incomes mean that more and more of us are relying on family members for financial... More
Savers, we’ve got some great news – signs of life are cropping up all over the place in the savings ... More
News for savers over the last few years has been dreary to say the least, but it finally seems as th... 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
Secure Trust Bank has stormed the charts with a new launch of its highly competitive five and seven-... More
Kent Reliance has topped up the rate paid on its easy access savings account by 0.10%, allowing it t... More
Shawbrook Bank has increased selected fixed rate bonds by 0.10%, enabling three of its deals to impr... More
Kent Reliance has taken the Moneyfacts charts by storm after it increased the rates paid by selected... More
Kent Reliance has increased the rate of its 60-day notice savings account by 0.25%, giving it a mark... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.