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 0.90% 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
*Headline rate includes a guaranteed fixed bonus rate of 3.01% for the first 12 months (on balances up to £1 million), plus the standard variable rate which is currently 1.05%. After 12 months, you’ll continue to receive the standard variable rate (all rates are Gross/ AER. Annual interest payments. Unlimited deposits and withdrawals (daily limits apply). 24/7 access to your savings through the mobile app. Your eligible deposits held by a UK establishment of Barclays Bank UK PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Business Banking, Barclays Premier Banking, Barclays Wealth Management and Tesco Bank. Any total deposits you hold above the limit between these brands are unlikely to be covered
Interest rate tracks the Bank of England (BoE) Base Rate, plus 1.14% 12 month bonus
Why we like it
Unlimited deposits and withdrawals.Open and manage online or in app. Open in single or joint name (online only). FSCS Protected. £500,000 maximum deposit across all OakNorth accounts (£1,000,000 for joint accounts)
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 FSCS
£500 bonus to boost your savings if you receive a residential purchase mortgage offer from Leeds Building Society
Why we like it
The Home Deposit Saver lets you earn a competitive rate of interest whilst building up the deposit needed for your first or next home. Open and manage online. FSCS Protected. You can only pay in up to £500 in a single month. Withdrawals are limited to 1 each year. You can deposit up to £30,000 in total. Bonus eligibility criteria apply
The interest rate tracks the Bank of England (BoE) Base Rate+ 0.25% Spread. New customers only also receive a 0.23% 12 month bonus. 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 £120,000 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
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)
Open in single or joint name (online only). FSCS Protected. £500,000 maximum deposit across all OakNorth accounts (£1,000,000 for joint accounts). No withdrawals permitted
A good instant access savings account will offer flexible withdrawal facilities with good rates of interest, and is suited to savers looking to access their money regularly.
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 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.
Fixed Rate Bonds:
Fixed rate bond terms vary from 3 months to 5 years, most being for 1 ,2, 3 and 5 year terms. Generally speaking the longer your money is locked away the higher the rate of interest you will receive on your money.
- There is usually a minimum commitment for depositing money into a fixed rate bond. This makes fixed bonds unsuitable for those who wish to top up a savings account in small amounts or through regular saving. Minimum bond deposits can vary from £500 to over £10,000. Make sure you are happy to lock away cash for set period of time.
- With a fixed term these types of savings bonds have a maturity date at which time you will be contacted by your savings provider and provided with options on how you wish your money to be returned to you.
- With a fixed rate bond you are usually restricted on access to your money during the specified term. Some fixed rate bond terms will not allow you access at all - while others may provide access on certain terms e.g. one withdrawal a year.
- Interest paid on your savings is treated as income and you may have to pay tax on it depending on your personal circumstances.
