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Compare Latest Instant Access Deals

SmartSave
Instant Access Account SmartSave
Min deposit £10000
Term Instant Access
Interest AER 5.07%

Why we like it: Sign up to a Flagstone account, and access hundreds of savings accounts from 60+ banks, including this one. Easily split cash between multiple accounts, all with a single application. Maximise your interest with exclusive rates. Personalised illustration tool to see how you can maximise your cash. FSCS Protected. Minimum deposit £10,000. Must be UK resident and aged 18 or older

Leeds Building Society
Limited Issue Online Access Account Leeds Building Society
Min deposit £1000
Term Instant Access
Interest AER 4.85%

Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older

Chip
Instant Access Account Chip
Min deposit £1
Term Instant Access
Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.75%

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)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.70%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 4.60%

Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

Yorkshire Building Society
Easy Access Saver Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.60%

Why we like it: Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

Aldermore
Easy Access Account Aldermore
Min deposit £100
Term Instant Access
Interest AER 4.50%

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

OakNorth
Base Rate Tracker 95 Day Notice Account OakNorth
Min deposit £1
Term 95 Day Notice
Interest AER 5.37%

Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 5.25%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 4.95%

Why we like it: Unlimited withdrawals subject to 95 days notice.

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.80%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 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)

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Instant Access Best Buy


Leeds Building Society »

Leeds Building Society offer a very competitive instant access account.

  • 4.84% AER/Gross pa (variable) interest rate for balances over £1,000
  • Interest is paid annually
  • Unlimited payments and withdrawals
  • Online account
  • FSCS Protected

Quick online application setup from Leeds Building Society

Chip »

Chip Savings also offer a very competitive instant access account.

  • 4.84% AER/Gross pa (variable) interest rate
  • Interest rate moves with Bank of England base rate
  • Interest is paid monthly
  • Unlimited payments and withdrawals
  • Apply and manage account online
  • Minimum deposit - £1
  • FSCS Protected

Quick online application setup from Chip

Yorkshire Building Society »

Yorkshire Building Society offer a competitive instant access account.

  • 4.80% AER/Gross pa (variable) interest rate for balances over £1
  • Interest is paid annually
  • Unlimited payments and withdrawals
  • Online account
  • FSCS Protected

Quick online application setup from Yorkshire Building Society


RCI Bank »

RCI Bank also offer a competitive instant access account.

  • 4.75% AER/Gross pa (variable) interest rate
  • Minimum deposit £1,000
  • Interest is paid monthly or annually
  • Unlimited payments and withdrawals
  • Online account
  • FSCS Protected

Quick online application setup from RCI Bank


Investec Bank »

Investec Bank offer an instant access account.

  • 4.70% AER/Gross pa (variable) interest rate
  • Interest is paid monthly, either to linked bank account or adding back in
  • Unlimited payments and withdrawals
  • Minimum deposit - £5,000
  • FSCS Protected

Quick online application setup from Investec Bank

Post Office Savings »

Post Office Savings also offer an instant access account.

  • 4.60% AER/Gross pa (variable) interest rate
  • Low minimum deposit £1
  • Interest is paid monthly or annually
  • Unlimited payments and withdrawals
  • After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable
  • Online account
  • FSCS Protected

Quick online application setup from Post Office Savings

Aldermore Bank »

Aldermore Bank also offer an instant access account.

  • 4.50% AER/Gross pa (variable) interest rate
  • Minimum deposit £1,000
  • Interest is paid monthly or annually
  • Unlimited payments and withdrawals
  • Online account
  • FSCS Protected

Quick online application setup from Aldermore Bank

Current Accounts

NatWest Select Current Account »

A 5* Defaqto rated everyday bank account which has no minimum monthly deposit and no fee. 

  • No minimum monthly funding
  • No monthly fee
  • Great money management tools with our mobile banking app. ‘Criteria Apply’
  • Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply
  • Arranged overdraft available (subject to eligibility)
  • FSCS Protected

For more information and to apply for NatWest Select Current Account

 

NatWest Reward Current Account »

A reward current account, earn up to £5 a month.  

  • Earn up to £5 per month back in rewards: £4 for 2 or more Direct Debits (2 of the Direct Debits need to be +£2 each) and £1 with 1 mobile app log in
  • Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners
  • Great money management tools with our mobile banking app. ‘Criteria Apply’
  • Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply
  • Arranged overdraft available (subject to eligibility)
  • £2 monthly fee
  • Must pay in £1,250 per month
  • FSCS Protected

For more information and to apply for NatWest Reward Current Account

first direct 1st Account »

Access to 7% AER/gross on linked regular savings account.

  • 7% AER/gross for 12 months, available to first direct 1st Account customers who open a new Regular Saver account, saving between £25 and £300 per month
  • No minimum monthly funding
  • No monthly fee
  • £250 interest free overdraft (subject to status)
  • Money banking app
  • UK based contact centre
  • FSCS Protected

For more information and to apply for first direct 1st Account

Santander Everyday Account »

Fee free account for everyday needs.

  • No minimum monthly funding
  • No monthly fee
  • Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts
  • Mobile banking app
  • Arrange overdraft facility available (subject to status)
  • FSCS Protected

For more information and to apply for Santander Everyday Account

Santander Edge Up Account »

3.50% AER interest on balances up to £25,000 and cashback available.

  • 3.50% AER/3.45% gross (variable) on balances up to £25,000
  • 1% cashback (up to £15 a month) on selected household bills when you pay by Direct Debit
  • 1% cashback (up to £15 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply)
  • Make international payments with no extra fees
  • £5 monthly fee
  • Must pay a minimum of £1,500 into the account each month
  • Arranged overdraft facility (subject to status)
  • FSCS Protected

For more information and to apply for Santander Edge Up Account

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 below-inflation interest rates, 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 offer 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, 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. Although, 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 inflation running at 3.0% (December 2017), and the average easy access savings account paying under 0.4%, 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, for example 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.

What you should be aware of when using an Instant Access Savings Account

  • Some banks and building societies appear at the top of savings tables with an account paying a bonus rate that ends normally after 12 months. It’s good to get the highest rate but diarise to ensure you switch out when the bonus rate ends.
  • Offers from banks providing online accounts only are great if you do not have regular online access or are not technically confident, maintaining an account online might not be right for you. You may prefer a telephone, postal or branch account where you can speak to someone.
  • Some accounts can be opened and maintained with a minimal deposit as low as £1, but savings providers may offer incentives such as tiered interest rates to encourage savers to commit more of their money to the account. Regularly review savings deals by using sites like this or the weekend best buy tables.
  • Interest paid on your savings is treated as income, and you may have to pay income tax on it depending on your personal circumstances. If you don’t pay tax, you can receive interest gross providing you complete tax form R85. Some accounts will pay interest gross, and it is up to you to declare any tax owed to the Inland Revenue.

With interest rates at the time of writing at an all-time low, the impact of inflation on your money is a real and present danger to its future buying power. Use our savings account comparison tables to help find a better savings deal.

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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.