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.
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)
Monthly interest savings accounts, as their name suggests, pay interest on your savings each month (... More
Savings levels have dropped over the summer months, bringing the steady rise seen over the last year... More
The latest Lloyds Bank Family Savings report has found that a staggering £877,000 is needed to meet ... More
The latest official inflation figures, released this morning, show that the Consumer Prices Index (C... More
We know it can be difficult to get into the habit of saving. Other spending can easily get in the wa... 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
Savings accounts for the over 50s can offer a better rate, but not always. Make sure you always comp... More
Penrith Building Society’s new three-year regular savings deal has stormed the Moneyfacts charts and... More
Principality Building Society has made a slight reduction to its five-year fixed rate cash ISA. Neve... More
Yorkshire Building Society has released a new one-year e-bond that has headed straight into the Mone... More
Bank of Cyprus UK has reviewed its fixed rate offerings and made slight reductions. However, the 18-... More
National Counties Building Society has re-booted its popular one-year savings bond, which has succes... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.