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This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.4%

Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.3%

Why we like it: Market Leading. Balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest. Eligible deposits covered by UK FSCS.

Plum
Easy Access Account Plum
Min deposit £0
Term 1 Day Notice
Interest AER 0.55%

Why we like it: You need to download the Plum Savings App and sign up for the Plum Plus or Plum Pro subscription to access 0.60% AER. Plum can help you save automatically. Interest is calculated daily but is applied to your account monthly. Your money is covered by the FSCS up to £85,000, if the scheme applies to you. If you would deposit £1,000 into your savings account, without adding or withdrawing any money throughout the year, you would have a predicted £1,006 in your account at the end of the year (at 0.60% interest). Interest accounts are provided by Investec Bank, who have the right to change the rate at any time. Must be UK resident. Must be aged 18 or older

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 0.45%

Why we like it: Interest paid monthly or annually. Manage account online. Which? Recommended Savings Provider. Unlimited withdrawals subject to 95 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features Fee FREE Account Earn up to 15% cashback

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexAccount Current Account Nationwide
Open With £1
Account Type Current Account
Features Fee FREE Account

Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

HSBC
Advance Current Account HSBC
Open With £1750
Account Type Current Account
Features Get £125 when you Switch

Why we like it: SPECIAL OFFER - £125 for SWITCHING to an HSBC Advance Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. Get the £125 when switching to an HSBC Advance Account as a new customer with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C’s apply. Offer may be withdrawn anytime

First Direct
1st Current Account First Direct
Open With £1
Account Type Current Account
Features Get £100 when you Switch

Why we like it: SPECIAL OFFER - £100 for SWITCHING to a First Direct 1st Account. Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. Easy switching with the Current Account Switch Service. Must be 18 or older and UK resident. Get the £100 when switching as a new customer and paying in at least £1,000 within three months of the account opening

Santander
123 Current Account Santander
Open With £500
Account Type Childrens Current Account
Features 0.60% AER Interest Up To £20,000 £5 pm Account Fee

Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Features 2% AER Interest (T&Cs)* Fee Free Account

Why we like it: *2.00% interest for 12 months on balances up to £1,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexPlus Current Account Nationwide
Open With £1
Account Type Current Account
Features Free insurance £13 pm Account Fee

Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

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Finding the best easy access savings account

Looking for a great rate on a easy access savings account? Use our FREE savings comparison service for the latest UK savings deals.

If you think that you might need to access your savings in the short to medium term, your best choice is likely to be an easy access savings account.

Given that interest rates are low with little chance that they will increase in the near future, it’s even more important that you find the best easy access savings accounts on the market. This short guide is intended to help you do just that.

What is an easy access savings account?

An easy access savings account is essentially what it says; a savings account that gives you easy access to your money.

With such an account you can access your savings without giving prior notice, and without forfeiting any interest.

There are some caveat’s however: there may be restrictions on the number of penalty free withdrawals you can make in any specific time period and, although you have easy access to your savings, unlike an instant access savings account there might be a few days’ delay before you have the cash in your hand.

Instant access accounts compared with easy access accounts

It is easy to get confused by the differences between easy access and instant access accounts. While both of these provide you with rapid access to your money, with an easy access account you must transfer your savings to another account, for instance your bank account, before you can receive the money as cash.

Generally, you will carry this out over the internet and there is likely to be a delay between your request to withdraw money, the money appearing in your bank account and for the funds to clear so that you can withdraw them.

This will vary between savings accounts and will depend on the bank, but it could typically take several days with the longest delay often being clearing.

With an instant access savings account, you can walk into the bank or building society and withdraw your cash immediately.

While there are no restrictions on the amount of your savings you are able to withdraw, you might be penalised in terms of loss of interest. From the provider’s viewpoint such an account is more expensive to manage than an easy access account. Consequently, interest rates tend to be a little lower than those on an equivalent easy access account.

Easy access ISA savings account

An easy access savings account can also be held in an ISA wrapper. Otherwise known as a cash ISA, the advantage is that you don’t have to pay tax on your interest. The two largest downsides are the restrictions on how much you are able to save each year in a cash ISA and you will not be able to replace any money you withdraw. 

There is, however, an exception to this. With a flexible ISA you can withdraw money and replace it within the same tax year without losing any of your allowance, though not all providers offer flexible ISAs.

Which is the best choice for me?

The best easy access savings account will depend on your circumstances, savings objectives and tax position.

You might decide to keep some savings in an instant access savings account to provide you with emergency funds immediately; some in an easy access savings account that will provide you with cash within a few days of making a withdrawal, or alternatively you might decide on a cash ISA that provides you with all the advantages of an easy access account without the need to pay tax on your interest.

The problem with cash ISAs is that the interest rates are often lower than those of a conventional easy access savings account, so don’t forget to check out the small print.

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