This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Compare Latest Instant Access Savings Accounts Deals

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 0.58%

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)

Aldermore
Double Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER Up to 0.6%

Why we like it: 0.60% AER if customer makes two or fewer withdrawals within an anniversary year. Monthly or annual interest. Manage your account online. Covered by the FSCS. If a customer makes three or more withdrawals in an anniversary year the rate reduces to 0.10% from the date of the third withdrawal. Must be UK resident and be aged 18 or older

Hampshire Trust Bank
Online Easy Access Account Hampshire Trust Bank
Min deposit £1
Term Instant Access
Interest AER 0.5%

Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.5%

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.

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)

Hampshire Trust Bank
120 Day Notice Account Hampshire Trust Bank
Min deposit £1
Term 120 Day Notice
Interest AER 0.9%

Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. Unlimited withdrawals subject to 120 days notice

Hampshire Trust Bank
95 Day Notice Account Hampshire Trust Bank
Min deposit £1
Term 95 Day Notice
Interest AER 0.85%

Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. Unlimited withdrawals subject to 95 days notice

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 0.82%

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

Investec Savings
32 Day Notice Account Investec Savings
Min deposit £1000
Term 32 Day Notice
Interest AER 0.8%

Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. Interest paid monthly. Maximum deposit £85,000. FSCS Protected. Withdrawals subject to 32 days notice. Must be UK resident and aged 18 or older

Aldermore
120 Day Notice Account Aldermore
Min deposit £1000
Term 120 Day Notice
Interest AER 0.7%

Why we like it: Monthly interest. Manage your account online. Unlimited deposits. Covered by the FSCS. Must be UK resident. Must be aged 18 or older. Unlimited withdrawals subject to 120 days notice. Maximum deposit £1,000,000

Aldermore
30 Day Notice Cash ISA Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.55%

Why we like it: Unlimited deposits and withdrawals. ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdrawals subject to 30 days notice

Aldermore
30 Day Notice Account Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.55%

Why we like it: Monthly interest. Manage your account online. Unlimited deposits. Covered by the FSCS. Must be UK resident. Must be aged 18 or older. Unlimited withdrawals subject to 30 days notice. Maximum deposit £1,000,000

load more

Instant Access Best Buys

Investec Bank »

Investec Bank offer a competitive instant access account.

  • 0.58% AER/Gross pa (variable) interest rate
  • Interest is paid monthly either to linked bank account, or added back in
  • Unlimited payments and withdrawals
  • Online account
  • Minimum deposit - £5,000
  • FSCS Protected

Quick online application setup from Investec

Aldermore Bank »

Aldermore Bank offer a great easy access rate if withdrawing less than 3 times a year.

  • 0.60% AER/Gross pa (variable) interest rate if customer makes two or fewer withdrawals within an anniversary year
  • Interest is paid monthly or annually
  • If a customer makes three or more withdrawals in an anniversary year the rate reduces to 0.10% from the date of the third withdrawal
  • Online account
  • Minimum deposit - £1,000
  • FSCS Protected

Quick online application setup from Aldermore

Hampshire Trust Bank »

Hampshire Trust Bank also offer a competitive instant access account.

  • 0.50% AER/Gross pa (variable) interest rate
  • Interest is paid annually
  • Unlimited payments and withdrawals
  • Online account
  • Minimum deposit - £1
  • Open in single or joint name
  • FSCS Protected

Quick online application setup from Hampshire Trust Bank

RCI Bank »

RCI Bank also offer an instant access account.

  • 0.40% AER/Gross pa (variable) interest rate
  • Interest is paid monthly or annually
  • Unlimited payments and withdrawals
  • Online account
  • Minimum deposit - £100
  • Which? Recommended Savings Provider
  • FSCS Protected

Quick online application setup from RCI Bank

Current Accounts

NatWest Select Current Account »

SPECIAL OFFER - £100 to switch and another £50 if you stay 

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 »

SPECIAL OFFER - £100 to switch and another £50 if you stay 

A reward current account, earn up to £4 a month. 

  • Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each, or earn £1 a month in rewards with 1 mobile app login
  • 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’
  • Arranged overdraft available (subject to eligibility)
  • Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit
  • FSCS Protected

For more information and to apply for NatWest Reward Current Account

Santander Everyday Current Account »

SPECIAL OFFER - £130 Cashback when you switch

An everyday bank account which has no monthly fee, no minimum funding per months and offers up to 15% cashback at chosen retailers. 

  • No minimum monthly funding
  • No monthly fee
  • Earn up to 15% cashback with Retailer Offers
  • Online and Mobile Banking with text and email alerts
  • FSCS Protected

For more information and to apply for Santander Everyday Current Account

 

First Direct 1st Account »

Get £100 for switching, and ten earn 1.00% AER/gross on linked regular savings account. 

  • £100 when switching to First Direct as a new customer
  • No minimum monthly funding
  • 1.00% 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 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

HSBC Advance Current Account »

Get £110 + £30 Uber Eats Voucher for switching, and then earn 1.00% AER/gross on a regular savings account. 

  • £110 + £30 Uber Eats Voucher when switching to an HSBC Advance Account as a new customer
  • 1.00% AER/gross available to HSBC Advance customers who open a new Regular Saver account, saving between £25 and £250 per month
  • No monthly fee
  • Arranged overdraft limit of at least £1,000 on account opening
  • Money Banking app
  • FSCS Protected

For more information and to apply for HSBC Advance Current Account

Santander 123 Account »

SPECIAL OFFER - £130 Cashback when you switch

Whilst general interest rates are low some banks and building societies are offering high interest current accounts as an alternative. Santander's 123 Current Account offers a rate of 0.30% AER for savings.

  • Fixed interest on balances up to £20,000 - 0.30% AER
  • £4 monthly fee
  • Up to 3% cashback on household bills
  • Must pay in £500 per month
  • FSCS Protected

For more information and to apply for Santander 123 Account

First Direct 1st Account »

Earn 1.00% AER/gross on linked regular savings account. 

  • No minimum monthly funding
  • 1.00% 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 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

 

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.

Latest news

Top 3 picks for current accounts in 2021

Over 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers. Read More »

Newsletter signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

Let's get social now! Twitter Facebook

About us

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.