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Compare Latest Instant Access Deals

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 5.00%

Why we like it: 5.00% interest for 12 months on balances up to £2,500 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. Must be aged 18 or older.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.30%

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

Nationwide
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.

Instant Access Best Buys

High Interest Current Account

Nationwide FlexDirect »

Whilst general interest rates are low some banks and building societies are offering high interest current accounts as an alternative. Nationwide Building Society's FlexDirect Current Account offers a rate of 5% AER for short term savings.

  • Fixed interest for a year on balances up to £2,500 - 5% AER
  • No monthly fee
  • 12 month fee-free overdraft available
  • Interest drops to 1% in subsequent years
  • Must pay in £1,000 per month
  • FSCS Protected

For more information and to apply for Nationwide FlexDirect 

UK Market Leading Savings Account

RCI BANK »

Market leading RCI Bank offers a competitive instant access savings account.

  • Highest UK rate on instant access savings 1.30% AER/Gross pa (variable)
  • Interest is paid monthly or annually
  • Withdrawals - Unlimited & no penalties
  • Online account
  • Minimum deposit - £1
  • Maximum deposit - £1 million
  • FSCS Protected

Quick online application setup from RCI Bank

 

With so many different easy access savings accounts to choose from, it pays to shop around. We offer a selection of leading UK instant access accounts.

With UK savings rates at an all time low, you need to take action to ensure your savings are getting the best interest deal possible.

Many savings accounts offer interest below the current rate of inflation, which means people's savings are being eroded in real terms. While there are many savings accounts on the market, many do not offer much of a financial advantage, as they provide interest that only matches the base rate set by the Bank of England. We help you compare a selection of some of the best interest paying accounts.

For savers looking to access their money regularly, a good instant access savings account will offer flexible withdrawal facilities while combining these with a good rate of interest.

See here for a comparison of leading UK instant access accounts

Finding the best instant access savings accounts

If you are looking to access your savings on a regular basis, then a good instant access savings account should be able to offer you flexible withdrawal facilities with a good rate of interest. Having immediate access to your money is important to you.  

Instant access savings accounts provide a good home for short term goals, such as a holiday or school fees. however, you may also want to consider easy access or notice accounts and fixed rate bonds for timescales greater than 6 months. It is also worth considering the latest current account provider deals as an alternative option for your savings.

With the Bank of England Base rate at an all-time low, making sure you are maximising the interest on your savings is as important as it has ever been, particularly taking into account inflation. With easy access accounts paying well under inflation, which is currently running at 3.0% (December 2017), it really is important to shop around for the best deal possible.

What to look for in an Instant Access Savings Account

The first thing to establish when choosing an instant access savings account is whether the interest rate is fixed for a set period of time or variable. A number of instant access accounts will pay a bonus rate in the first 12 months after which the account rate will reduce. Providers rely on the fact that people are busy and will not switch out to a new account after the bonus period ends. These accounts are attractive, but you need to be proactive and diarise to review your account on the bonus end date.

Most instant access accounts operate on a variable rate basis e.g. the rate of interest you start with can go down as well as up. This means it is important to constantly monitor the performance of the savings account, and be prepared to move to a better-performing account. In these low savings interest rate times you need to monitor your account on a regular basis.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.