Compare easy access accounts

Easy access accounts

Easy access accounts are ideal if you think you may need to dip into your savings. But, as generally rates are low, you may need to get creative to get the most out of your money.

Even consider a current account where you can earn up to 3.00% AER variable on a limited balance, but still have easy access to your cash.

Easy access accounts – Ordered by interest rate

These are the accounts available to open through MoneySuperMarket. We can show you all the accounts on the market, but we can only help you to open some of them.

 

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

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Notice period

none

Account type

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Great for
  • Opening an account online with a low minimum opening balance of just £1
  • Account may be opened online, via telephone, through the post or in-branch
  • Suitable for customers who don’t plan to make regular withdrawals
But be aware that
  • The interest rate includes a fixed bonus of 0.25% AER for the first 12 months the account is open. After the first 12 months, your rate will change to the underlying variable interest rate (currently 1.15% AER/Gross p.a.)
  • Your account must be managed online or over the telephone, not by post
  • You can only take money out of your account up to three times a year without having to pay a charge. From the fourth withdrawal onwards, you’ll receive a charge equal to 50 days’ interest based on the amount you’re withdrawing
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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{10000000 | currency : '' : 0}}

Notice period

none

Account type

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Great for
  • Ideal for opening an account online with a minimum opening balance of £1
  • No withdrawal restrictions
  • Choose between monthly or annual interest payments
But be aware that
  • Rates are variable and could change at any time
  • After 12 months, the account automatically changes to a Standard Saver Internet Account currently paying 0.20% Gross/AER variable. See provider site for details
  • Monthly interest will be paid at a lower gross rate
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Paragon Bank Paragon Bank

Limited Edition Easy Access (Issue 6)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{100000 | currency : '' : 0}}

Notice period

none

Account type

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Great for
  • UK based bank with FSCS protection up to £85,000
  • Free withdrawals with no penalties or notice periods
  • Opening and managing your account online
But be aware that
  • Online access only
  • You must be over 18 and a UK resident to open this account
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AA AA

Member Saver - Issue 3

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{100 | currency : '' : 0}} to {{productCurrency}}{{2000000 | currency : '' : 0}}

Notice period

none

Account type

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Great for
  • No withdrawal restrictions
  • Open and manage your account online 24/7
  • Apply online
But be aware that
  • Available to AA Breakdown members only
  • Rate is variable and could change at any time
  • The Member Saver is provided by Bank of Ireland UK
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RCI Bank UK RCI Bank UK

Freedom Savings Account

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{100 | currency : '' : 0}} to {{productCurrency}}{{1000000 | currency : '' : 0}}

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Great for
  • Unlimited payments and withdrawals with no penalties
  • 7 day service and choice of monthly or annual interest
  • Part of Renault’s global banking group
But be aware that
  • RCI Bank is part of a French banking group and the first €100,000 equivalent is protected by the French deposit guarantee scheme, rather than by the UK FSCS scheme which protects the first £85,000
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Sainsbury's Bank Sainsbury's Bank

Defined Access Saver - Issue 5

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1000 | currency : '' : 0}} to {{productCurrency}}{{500000 | currency : '' : 0}}

Notice period

none

Account type

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Great for
  • Make up to three withdrawals in a 12-month period without any reduction in your interest rate
  • Suitable for customers who don’t plan to make regular withdrawals
  • Open your account with just £1
But be aware that
  • If you make more than three withdrawals in a 12-month period your interest rate will be reduced
  • On the fourth withdrawal an interest rate of 0.50% (AER) will apply for the rest of the account year
  • Interest paid annually. You must be aged 18 or over and be a UK resident
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Paragon Bank Paragon Bank

Easy Access (Issue 4)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{150000 | currency : '' : 0}}

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Great for
  • No withdrawal restrictions
  • UK based bank with FSCS protection up to £85,000
  • A choice between monthly or annual interest
But be aware that
  • Online access only
  • You must be over 18 and a UK resident to open this account
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AA AA

Easy Saver - Issue 7

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{100 | currency : '' : 0}} to {{productCurrency}}{{2000000 | currency : '' : 0}}

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Great for
  • No withdrawal restrictions
  • Open and manage your account online 24/7
But be aware that
  • Rate includes a bonus, you may want to move your money at the end of this period
  • Rate is variable and could change at any time
  • The Easy Saver is provided by Bank of Ireland UK
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Go to site

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{1000000 | currency : '' : 0}}

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Great for
  • Simple online application
  • Open, view and manage your account online
  • No withdrawal restrictions
But be aware that
  • Rates are variable and can change at any time
  • Online access only
Show key information
Close
Go to site

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{100 | currency : '' : 0}} to {{productCurrency}}{{2000000 | currency : '' : 0}}

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Great for
  • Allows withdrawals on three days per account year based on the anniversary of account opening
  • Close your account with no loss of interest by using one of your 3 withdrawal days
  • Save from £100
But be aware that
  • If a withdrawal is made from the account by CHAPS a charge of £23.50 will be incurred. Proof of name ID will be required
  • Online withdrawals are not available for the first 14 days after your account has been opened
  • Only 2 accounts can be opened per person
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Easy Access Savings Accounts

If you want a simple and flexible savings account where you know exactly what you’re getting, an easy access non-bonus account could be right up your street.

Savings accounts can be complicated. Between rules on how often you can make withdrawals, rate-inflating bonuses and the like, what looks like a great deal can often turn out to be less appealing.

With easy access non-bonus savings accounts you can rest assured that the rate you see is what you’ll get and that you’ll be able to access your money as and when you need to.

And, since the introduction of the new Personal Savings Allowance (PSA) in April 2016, banks and building societies now pay interest on all savings accounts gross, or before any tax is deducted. The PSA means that basic-rate taxpayers can earn £1,000 of savings interest without the taxman taking a slice, and higher rate taxpayers can earn £500. Additional rate taxpayers are not eligible for a PSA. 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.

Sound good? Here’s a look at these kinds of accounts in a little more detail.

What is an easy access non-bonus savings account?

Just as its name implies, an easy access savings account grants you easy access to your money whenever you like, without having to pay any penalties or forfeit any interest.

Some savings accounts place restrictions on withdrawals. Notice accounts, for example, require you to put in a period of notice before you can withdraw cash. Other savings accounts will impose penalties for making withdrawals.

Easy access accounts, on the other hand, let you take out money as you please – though some easy access accounts do limit the number of penalty-free withdrawals you can make each year.

The non-bonus part means that the rate of interest is not inflated by a temporary bonus. For example, an account may be advertised with a headline rate of, say, 1.50%, but include a 12-month bonus of 1.00%. After the bonus period ends, the rate drops to 0.50%.

So, with an easy access non-bonus account you’ll be able to withdraw cash pretty much as you please, and the rate you see is the rate you’ll get, unless it’s a variable rate account which is subject to change.

The importance of saving

It’s always been a good idea to put some money away for emergencies, or just for rainy days. Many households are now being squeezed by the rising costs of living, making it even more important to have something to fall back on.

The benefit of an easy access account is that you’ll be able to dip into your savings at the drop of a hat, without having to give any notice or worry about penalties – after all, you’re not going to get any notice of an upcoming emergency.

The flexibility of these types of accounts comes at a price, though, as easy access accounts tend to have lower rates than other types of savings accounts.

Things to look out for

To say the rate you see is what you’ll get with a non-bonus savings account is slightly misleading, because accounts with variable rates can go up and down. It’s important to keep an eye on your rate as you may want to move your money to a more attractive account.

Again, there may actually be restrictions on how many withdrawals you can make during the term of the account, at least without incurring penalties. Be sure to check the terms and conditions of the account before signing up.

Our savings comparison tool allows you to compare rates across a range of accounts and providers to help you find the best home for your money. 

Is your money safe?

Your savings are protected by the government-back Financial Services Compensation Scheme. This covers deposits of up to £85,000 (as of 30 January, 2017). This amount applies per individual per institution, not per account, so watch out if you have two accounts with a single bank that have a combined balance above £85,000, as not all of your money will be protected. If you have a joint account, both accountholders have £85,000 of protection, giving a total of £170,000.