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This comparison simply includes all savings accounts.

Ulster Bank
eSavings Ulster Bank
Min deposit £1
Term Instant Access
Interest AER 1.25%

Why we like it: MARKET LEADING. 1.25% AER Gross (variable). Open with £1. A simple instant access savings account. Manage your account online, by telephone banking or via our mobile app. You'll need to be 18 or over and a UK resident

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.20%

Why we like it: No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

Ford Money
Flexible Saver Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.12%

Why we like it: Open with £1. Unlimited deposits and withdrawals. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Ford Money
Flexible Cash ISA Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.00%

Why we like it: Minimum deposit £1. Unlimited deposits. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Notice Cash ISA Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.8%

Why we like it: Unlimited withdrawals subject to 30 days notice.

Wyelands Bank
Notice Savings Wyelands Bank
Min deposit £5000
Term 35 Day Notice
Interest AER 0.8%

Why we like it: Save from £5,000. 35 days notice for withdrawals. FSCS Protected

Notice Savings Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.8%

Why we like it: Unlimited withdrawals subject to notice. Withdraw cash early if you need to (subject to loss of interest).

Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.75%

Why we like it: EASY ACCESS TOP SELLER: Earn 0.75% gross/AER on balances from £1,000 to £1 million. Guaranteed to be at least 0.50% above Base Rate until 31 December 2017. Unlimited withdrawals without restriction or loss of interest.

Current and Savings Account B
Min deposit £1
Term Current Account
Interest AER 0.5%

Why we like it: INNOVATIVE NEW BANKING SERVICE powered by Clydesdale and Yorkshire Banks. Get your current account and instant access savings account working together. Earn 0.50% AER on ALL instant access credit balances and 0.25% AER on current account balances up to £2,000. Fee free

Instant ISA Saver Nationwide
Min deposit £1
Term Instant Access
Interest AER 0.5%

Why we like it: Instant ISA Saver is designed for those that want the convenience of a tax-free cash ISA with instant access.

Scottish Widows
Direct Transfer Account 2 Scottish Widows
Min deposit £1000
Term Instant Access
Interest AER 0.35%
Scottish Widows More info

Why we like it: Open with £1,000. Monthly and Annual Interest options. Access - Online, Telephone or Post. No notice period or fees on withdrawals.

123 Current Account Santander
Open With £1000
Account Type Current Account
Interest AER 1.50%

Why we like it: BEST SELLING CASHBACK CURRENT ACCOUNT. Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.

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 the various banks, but 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 in 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 there are restrictions on how much you are able to save each year in a cash ISA and, should you decide to withdraw your money, with many ISAs you will not be able to replace it.

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.

Choosing the best easy access savings account for you.

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