Aldermore Instant Access Savings Accounts

Aldermore savings accounts review

Aldermore is a retail bank offering personal and business banking. They provide a range of high interest accounts offering flexible access to your money, including instant access savings accounts.

Aldermore Easy Access Account

The Aldermore Easy Access Account is their version of an instant access account. It allows you to add and withdraw money from the account whenever you like, giving you complete flexibility with your savings.

Features include:

• Fast setup – open an account, complete identity checks and deposit your savings in minutes
• Open an account with just £1,000
• Unlimited withdrawals
• Manage your accounts online, by phone or by post
• No upper age limit, suitable as a savings account for over 60s
• Easy saver rates

Aldermore Notice Accounts

The Aldermore Notice Account is similar to an easy access account in that you can add savings whenever you like and make unlimited withdrawals. However, you have to give the bank 30 days’ notice for a withdrawal and in exchange you will get a better interest rate than for an instant access account.

Features include:

• Guaranteed minimum interest rate for an introductory period
• Fast setup – open an account, complete identity checks and deposit your savings in minutes
• Open an account with just £1,000
• Add funds whenever you like
• Unlimited withdrawals (subject to 30 day notice period)
• Manage your accounts online, by phone or by post

Aldermore Notice Cash ISAs

The Aldermore Notice Cash ISA is like a notice account, with the same 30 days’ notice period for withdrawals, except you pay no tax on deposits up to the current ISA threshold (£20,000 for the 2017/18 tax year).

Features include:

• Guaranteed minimum interest rate for an introductory period
• Option to split your ISA allowance between any of Aldermore’s cash ISA products
• Make instant withdrawals when necessary in exchange for a deduction of interest equivalent to the notice period
• Fast setup – open an account, complete identity checks and deposit your savings in minutes

Aldermore Easy Access Help to Buy: ISA

The Easy Access Help to Buy: ISA from Aldermore is a government-backed ISA, and it is designed to help people saving up for their first home. The government will give you a bonus of 25% of your savings when you complete the purchase of your first property. You can add and remove funds whenever you like, subject to a maximum monthly deposit limit.

Features include:

• Open an account with as little as £1
• Deposit up to £200 per month
• Option to add an extra £1,000 in the first month
• Get 25% extra from the government once you have a balance of at least £1,600
• Maximum bonus of £3,000
• Fast setup – open an account, complete identity checks and deposit your savings in minutes
• Manage your accounts online, by phone or by post
• Unlimited withdrawals (but funds can only be repaid within the £200 a month deposit limit)

Compare Aldermore instant access savings accounts

Which Aldermore savings account will be best for you will depending on the amount you have to save, what you are saving for and your personal circumstances. In many instances it may be worth keeping your savings in a current account, as some current accounts offering highly competitive interest rates.

For example, at the moment the Santander 123 current account offers 1.50% AER/1.49% gross (variable) on balances up to £20,000 as well as cashback of between 1-3% on a variety of household bills, all for an account fee of just £5 per month.