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Product focus: Easy access accounts

Product focus: Easy access accounts

Category: Savings

Updated: 28/01/2010
First Published: 18/11/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Most savers will typically have at least part of their savings portfolio in an easy access account, which they can get at quickly in an emergency. If savers want to maximise the interest earned on such accounts, then they should consider opting for a online operated account, where the average rate of 1.10pc, double that available on a branch based account.

Citibank – Flexible Saver Issue 6

Citibank is offering new customers a rate of 3.25pc, including a 2.25pc bonus for 12 months, on its Flexible Saver account. Savers can invest up to £1m into the account, which can be operated in branch or by telephone as well as online. The account offers instant access to their money if savers wish to make a withdrawal.

Sainsbury's Finance – Online Saver

The Online Saver account from Sainsbury's Finance is currently paying 3.20pc, including a 2.70pc bonus for 12 months. Savers can invest between £1,000 and £500,000 into the account, which has a monthly interest option available for those looking for a regular income. No notice is required to make a withdrawal, but if more than three withdrawals are made then the rate drops to 0.50pc.

AA – Internet Extra

Savers investing in the Internet Extra account from the AA will receive a rate of 3.15pc from £1, including a 2.65pc bonus for 12 month or 3.30pc on investments over £50,000, including a 2.80pc bonus for 12 months. Up to £1m can be invested in the online operated account, which pays interest on the anniversary of the account opening. No notice is required to access funds, but all withdrawals must be made via a nominated account.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.