Now that you have a clearer idea of what easy access accounts are, you may want to know how to choose between the top deals. Doing an easy access savings accounts comparison can be as easy or comprehensive as you want it to be.
For instance, you may only have £1 to invest at the start, in which case it's likely that not all the top rates will be available to you. On the other hand, if you've got a large amount that you want to retain access to, you could just go for the number one account in the charts.
There will be a few other things that people look out for when deciding, such as:
- Branch-based or online-only?
If you'd like to do your banking in branch, there's a chance that you may need to look away from the best instant access savings account rates, as these tend to be reserved for those who do their banking online. Luckily, our search results should make it easy to see which deals can be opened in branch. Then it's just a matter of seeing if the rate is up to your standards, the minimum investment limit is something you can live with and you can manage the account in branch as well. Of course, if you’re comfortable online banking, you can usually take your pick of the deals, as the best online easy access savings rate is often the best overall.
- Best instant access savings accounts for over 50s
While there are still specific accounts for those who are over 50 or even 60, there are not as many as there may once have been and they tend not to pay the exclusive rates that they once did. If you desperately want one of these accounts, your best bet would be to contact your local banks or building societies. Otherwise, you may want to consider a traditional savings account, as they are likely to rival the rates of exclusive accounts and are simple to compare.
- Fixed rate instant access savings accounts
The overwhelming majority of easy access deals, including the very best instant access savings accounts, will have variable rates. There are, however, rare occasions when a fixed rate easy access deal gets released. These products may be in the guise of fixed bonds with flexible access options, and will usually be very limited and only available for a year, after which the funds may be transferred to a variable rate easy access saver.
Because they are so rare, you may think that they will be wildly appealing, but the rates on these accounts won't necessarily be market-leading. So, if you're looking to open an instant access account, don't wait around for the white whale of a fixed rate deal, as you may never find it. If you'd prefer the security of a fixed rate, you might want to consider a fixed bond instead - provided you're happy to restrict your access.
Considering all these different criteria, it's easy to see that there is not one single best easy access account. You will have to compare instant access savings accounts to find the one that best suits you. Thankfully, our search results are a great place to start, so it hopefully won't be too difficult to find what you're looking for.