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.
When was the last time you changed savings account? For many, it won’t be recent, be it through misp... More
Fixed rate bonds can be one of the best ways to secure a decent return from your money, but if you r... More
Savers, we have some good news – average rates across the fixed savings market have ALL increased fo... More
Do you have any savings squirreled away that your partner doesn’t know about? According to research ... More
Research from NS&I reveals that average monthly savings levels have risen by 52% in the last decade,... 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
Furness Building Society has reduced selected variable savings rates, but despite this, its regular ... More
RCI Bank has increased the rate of its easy access deal by 0.15%,seeing it surge back to the very to... More
United Trust Bank has reduced the rates of selected fixed bonds by up to 0.15%. Despite this, its on... More
Aldermore has increased the rates of selected fixed bonds by up to 0.30%. Its two-year deal has subs... More
Vanquis Bank has reduced selected fixed rate bonds, but its three and five-year deals have retained ... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.