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Easy Access Savings Accounts

Compare our best easy access savings accounts

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Why choose an easy access account with MoneySuperMarket?

  • It’s quick and easy

    See all available accounts in one place. You’ll be shown the interest rate you’ll receive, the notice period – if any – and the minimum and maximum deposit

  • Compare from a range of providers

    MoneySuperMarket works with a range of leading UK providers to bring you the best easy access saving accounts from across the market

  • Open your new account today

    It’s easy to get started. Click through to open your account online. All you’ll need is proof of ID and residence in the UK

Can I withdraw my money instantly from an easy access account?

With an instant access savings account you can withdraw money from your account just like you would from a current account – instantly and with no penalties. You’ll be able to withdraw money electronically into another account – or from a cash machine or at your bank branch.  

In contrast, an easy access account may have a short waiting period before you can take out your money – or in some cases you may be limited to a certain number of withdrawals each month or each year. You can usually transfer the money from your easy access savings account to your current account.


How do easy access savings accounts work?

Easy access savings accounts are designed to make paying in and withdrawing your money as easy as possible

  • Open the account online

    You’ll need to put in an initial minimum deposit, which can vary from £1 to £5,000 

  • Start earning interest

     The rates tend to be variable, meaning the provider can change the interest rate

  • Withdraw money when it suits

    You don’t need to give advance notice, simply withdraw your cash when you need it

What are the pros and cons of easy access accounts?

There are advantages and disadvantages to opening an easy access savings account. Here are some things to consider:

  • Tick


    • Easy to set-up and manage and you’ll receive interest on your money

    • Make deposits to add to your savings whenever you want 

    • Withdraw money without having to give notice

    • You don’t need a large amount of money to open up the account

  • Cross


    • Higher interest rates may be available elsewhere, such as fixed rate savings accounts

    • There may be a limit to the amount of cash withdrawals you can make in a given time period

    • Variable interest rates – which can be reduced at short notice

    • The Annual Equivalent Rate (AER) - how much interest you’ll earn in a year - is usually lower than fixed-term accounts and even some current accounts

How to choose the best easy access savings account for you

There are a number of things to consider before choosing your next savings account, these include:

  • Interest rate

    Rates will vary widely between providers. Remember to check if the rate includes a short-term bonus rate, which will drop after six or 12 months, for example

  • Access

    Check if there are any restrictions on when and how you can get your savings. Some accounts may put a limit on the number of withdrawals per month or year

  • Penalty restrictions

    Will the account charge a penalty for withdrawals? While this is rare, all accounts will have different terms and conditions, so read the small print

  • Managing the account

    Look at how you’ll be able to handle the account and if that suits your needs, whether it’s online, via an app, or if you want to use a bank branch

What are the best easy access accounts for over 50s?

Some savings providers offer easy access accounts designed for the over 50s.

They work in the same way as other easy access accounts - and making deposits and withdrawing your cash is usually quick and straightforward. The best accounts are typically those that offer the highest interest rates without restrictions.

But while there are specialist accounts for the over 50s, it’s also worth comparing easy access savings from across the market to ensure you pick the most suitable for you.


What are the alternatives to easy access accounts?

If an easy access account isn’t right for you, consider one of these options…

  • Fixed rate bonds

    A fixed rate savings bond could offer higher returns than an easy access account, but you’ll have to lock your money away for a period, often between one and 5 years

  • Regular saver account

    You’ll usually have to save a minimum amount each month, such as £150, to earn the agreed interest rate. But rates tend to be high and you could soon build up a lump sum 

  • Individual Savings Account (ISA)

    With an ISA you’ll benefit from tax-free savings. Save up to £20,000 each tax year. You have a choice between cash ISAs and stocks and shares ISAs – or a combination of both

Victoria Russell

Our expert says


With an easy access savings account you have the peace of mind that you can quickly get your money should you need it. While this makes it similar to a current account, an easy access savings account could also pay you a higher interest rate on your balance. Higher rate introductory period offers can be worth snapping up. Once the rate drops, it’s time to easily access your money and move it elsewhere.

- Victoria Russell, Money & Savings Expert

Compare easy access savings accounts with MoneySuperMarket

MoneySuperMarket can help you compare several accounts all in one place

  • Browse our providers

    Just click the button below to see a list of all our savings accounts, ordered by highest interest rate

  • Filter and sort

    Use our filters to focus on what’s most important to you, whether it’s interest rate or deposit amount

  • Click through to provider

    When you find the account you want, click straight to the provider to complete your application online today

Easy access accounts almost always offer variable rates of interest, which means the rate on your account can go up or down at any time. It’s worth keeping an eye on the interest you’re earning. If it no longer looks competitive, we recommend moving your savings to an account that offers a higher rate.

Easy access accounts are designed to give you access to your money, but some may impose certain restrictions, such as how many withdrawals you can make in a given period, such as per month or per year. Check the terms of the account before you sign up, so you’re not surprised later.

With the personal savings allowance all basic-rate taxpayers can earn £1,000 of interest on their savings each year before they have to pay any tax on it. Higher-rate taxpayers can earn £500 of gross interest a year tax-free. Anyone earning upwards of £150,000 won’t be able to benefit from the personal savings allowance. If the interest you earn exceeds these limits, any tax you owe will usually be collected via the Pay As You Earn (PAYE) system or via your self-assessment tax return.

Just as with other accounts, easy access savings accounts are generally covered by the Financial Services Compensation Scheme (FSCS) guarantee – you can check before you sign up. This means the first £85,000 of your savings with the financial institution will be covered in the rare event that the bank or building society goes bust. 

You can compare savings accounts using a number of factors. These include the interest rates they offer as well as how long the rate will last, the amount you might need to deposit in order to open the account, and how you can access the account. Once you’ve decided which account you want, simply click through and you’ll be taken to the provider’s website.

Not sure what type of account to go for? Our Savings Decision Tree can help you decide.

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