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.
Easy and instant access savings accounts allow you to make a withdrawal without having to give any prior notice. However, although you don’t give notice, it can still take a little while for you to get hold of your money depending on how your account is operated (particularly if your account can only be operated by post).
When choosing an easy access account to deposit your savings, think about how quickly you’d need to get at your cash. If it’s an emergency pot for instance, you might want an account that offers online, telephone and/or branch access so that you can draw on your money within a matter of hours. In contrast, if it’s for a more tangible goal, such as paying the balance on your summer holiday, a postal account might be fine.
Some easy & instant access savings account rates will rely on an introductory bonus to bolster their rate. While this can be a great way for active savers to maximise the returns on their nest eggs, it can sting those who would prefer a longer term relationship with their savings account.
Bonuses only tend to last 12 months, and then the interest rate drops. This can leave those who are not keeping a close eye on their account with a rate as low as 0.10%. Some banks and building societies offer easy access accounts that pay solid rates of interest, without a temporary bonus. In fact the best rates are now found on accounts without a bonus. This can be a great option for those who want a decent rate of interest, but who don’t want to have to change their savings account in a year’s time.
An instant access savings account has a variable interest rate. That means that even if your account doesn’t have a bonus, the interest rate could still go down. So it’s still best to keep a regular eye on rate and review your account as necessary.
Savings home Search all easy access savings accounts Compare instant access savings accounts (with bonus) Savings guides
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
Expectations are at a record low for potential first-time buyers, with research suggesting that 8.5 ... More
Last Friday marked the 100-day countdown to Christmas, which means now’s the time to start planning!... More
At a time when savings rates are reaching record lows, there are clearly far fewer ways of earning a... More
It hasn’t been a good year for savings rates, and unfortunately, there’s no sign of things changing ... More
The UK’s inflation rate remained unchanged at 0.6% in August, but while this is undoubtedly welcome ... 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 launched a new variable rate 120-day notice savings account, which has managed... More
Vanquis Bank has increased its one, two and five-year fixed rate savings bonds by up to 0.14%, which... More
Charter Savings Bank has launched new one-year and 18-month fixed rate savings bonds with highly com... More
Ikano Bank has amended rates across its range of fixed savings bonds. Nonetheless, the two, three an... More
Raphaels Bank has reduced the rate paid on its 60-month fixed bond by 0.15%; however, this hasn’t de... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.